Tax deducted at sources fy 18-19

TDS / TCS 144 views 1 replies

Dear Sir

I am working in nationalized bank,i have few question regarding TDS to be deducted on pension received by pensioners:-

1.Whether standard deduction is applicable for all pensioner .I.e should i deduct 40000 from gross salary to get taxable salary,are family pensioner are eligible standard deduction.

2.What is income tax rebate under sec 87a for pensioner

3.Should i deduct TDS of family pensioners.

Early reply will be appreciatedenlightened  

Thanks and Regards

Harish Kumar

Replies (1)
1.Whether standard deduction is applicable for all pensioner .I.e should i deduct 40000 from gross salary to get taxable salary,
Yes
are family pensioner are eligible standard deduction. YES
 
 
2. What is income tax rebate under sec 87a for pensioner
You need to deduct TDS on gross payment, need not worry for arrears.
 
3.Should i deduct TDS of family pensioners.  Yes, if above taxable limit.


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