Tds for senior citizen salary

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S.Swaminathan (Querist)
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02 August 2012 Now I am a senior citizen (60) and continuing as consultant in my company. What rate applicable for TDS on my consultation salary

Amol S Joglekar

Amol S Joglekar (Expert)
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02 August 2012 Consultationis normally 194J i.e.10%. But if your employer is considering it as SALARY, then goby the rates of SALARY. The person who becomes senior anytime during the year is considered as senior citizen for the entire year.

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CA Prashant Gupta

CA Prashant Gupta (Expert)
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02 August 2012 there is no exemption of senior citizen in TDS. for consultant 194 J is applicable @ 10%.
Company will deduct full TDS but you can claim refund in your return and you can take benefit of senior citizen exemption also

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S.Swaminathan

S.Swaminathan (Querist)
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02 August 2012 Thanks for reply. I am Not in role eventhough I am continuing in Job they are treating me as consultant and cosolidated pay. What rate TDS applicable

Amol S Joglekar

Amol S Joglekar (Expert)
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02 August 2012 10 % is the rate under section 194J

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