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Withdrawal from post NSS

ITR Filing 869 views 1 replies

 NSS 1987 IN POST OFFICE CLOSED ON 04.09.2024 AND AMOUNT WITHDRAWN. P.O DEDUCTED TDS UNDER SEC. 194EE. NOW THAT UNDER SEC 80CCA(2) THE AMOUNT WITHDRAWN IS EXEMPTED W.E.F 29.08.2024. 

HOW TO SHOW THAT IN ITR1. 

Replies (1)
    • In ITR-1, go to the section labeled ‘Exempt Income for reporting purposes’ (typically found after the main income details and before deductions).

    • Click ‘Add’ or ‘+’ to include a new exempt income item.

Select the Correct Category:

    • If ‘NSS withdrawal exempt under Section 80CCA(2)’ is not specifically listed, choose the category ‘Any Other Exempt Income.’

    • In the descripttion field, clearly specify:

      “NSS 1987 account withdrawal exempt u/s 80CCA(2), as per CBDT notification w.e.f. 29.08.2024”
    • Enter the withdrawn amount in the relevant column.

Your TDS deducted by the Post Office under Section 194EE will appear in the ‘TDS’ section pre-filled from Form 26AS.Leave it as-is; the system will calculate the refund automatically since this income is not included in your taxable total.


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