Tds for payment of pension
This query is : Resolved
05 March 2014
Sir,
If Bank is making pension payment of a person whoes total Pension is Rs. 120000 p.a. which is below taxable limit.
If he is not having pancard does Bank should Deduct TDS @ 20% for non obtaining Pancard No?
If Bank is making pension payment of a person whoes total Pension is Rs. 120000 p.a. which is below taxable limit.
If he is not having pancard does Bank should Deduct TDS @ 20% for non obtaining Pancard No?
05 March 2014
yes the bank needs to deduct 20% in such cases on the whole of the amount.
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