TDS on Family Pension...??

TDS 6972 views 8 replies

Hello everyone....

Plz tell me whether TDS is deducted on payment of family pension to the spouse of an employee by a nationalized bank, if yes den in which section and at what rate.......????

Waiting for your replies.......

Replies (8)

Dear Nimisha,

TDS is not required on Family pension except where the person receiving the same is a Non resident in which case Sec 195 comes into play.

TDS shall be deducted on Regular/Ordinary Pension given to employee directly.

Reason is Family Pension is taxable under the head "Other sources" & is not an income under head "salaries" & sec 192 begins as follows -

Any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax  [***] on the amount payable at the average rate of income-tax [***] computed

Dear Nimisha,

I have got one very good article written by Pranjal Sir -

/articles/tds-provisions-on-pension-payments-4875.asp

There is no TDS provision in case of Family Pension. For more details, visit

 

/articles/tds-provisions-on-pension-payments-4875.asp

Originally posted by : Amir

Dear Nimisha,

I have got one very good article written by Pranjal Sir -

/articles/tds-provisions-on-pension-payments-4875.asp

 wish my Browser would have been faster by 2 minutes..:-)

Dear Sunali,

Then also it would not have made difference since the difference is of 3 minutes (not 2).............:)

Originally posted by : Amir

Dear Sunali,

Then also it would not have made difference since the difference is of 3 minutes (not 2).............:)

 11.40 - 11.39..was talking about the link given, so sir, its 2..-)..Good Day..

Ya, you are right, I just misread it...........:(

Anyways, it was a good discussion...........:)

thanx Amir n Sunali


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