TDS on National Savings Scheme payments lowered, reducing withholding on qualifying deposit payments after the amendment. The amendment substitutes the rate in section 194EE so tax deduction at source on payments in respect of deposits under the National Savings Scheme and ... Summary
TDS on National Savings Scheme payments lowered, reducing withholding on qualifying deposit payments after the amendment.
The amendment substitutes the rate in section 194EE so tax deduction at source on payments in respect of deposits under the National Savings Scheme and similar instruments is reduced from twenty per cent. to ten per cent. where the payment exceeds the statutory threshold, effective from 1st June, 2016.
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