I am retired bank employee 65 years of age
I am receiving pension about 50,000 per month
The DDO is deducting monthly tax
Is this ok
(ReferSection 207 of IT Act)
can I pay tax after making self assessment Before 31/03/2020 or after 31/03/2020 and request DDO not to deduct advance tax
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Advance tax
Replies (3)
For advance tax payment , senior citizens are exempted.
But not from TDS provisions. TDS is applicable to senior citizens beyond threshold limits.
But not from TDS provisions. TDS is applicable to senior citizens beyond threshold limits.
Sir
is threshold limit Rs10,000/=
is threshold limit Rs10,000/=
Theshold limits for TDS are different under different sections.
Here you discuss with your employer about TDS.
Basic limit of 3 lakhs plus standard deduction 50000/- so upto total 350000/- no TDS. You can take 80C deduction by informing to Employer.
Here you discuss with your employer about TDS.
Basic limit of 3 lakhs plus standard deduction 50000/- so upto total 350000/- no TDS. You can take 80C deduction by informing to Employer.
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