Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Tax deduction at source for specified senior citizens: banks must compute taxable income after deductions and deduct tax accordingly. A specified bank must compute the total income of a specified senior citizen after allowing Chapter VI-A deductions and the section 87A rebate, and deduct income-tax at the rates in force; the senior citizen need not file a return under section 139 for the assessment year in which tax is so deducted. A specified senior citizen is a resident individual aged seventy-five or more, receiving pension and only interest from accounts in the same specified bank, who has furnished the prescribed declaration; a specified bank is a notified banking company.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax deduction at source for specified senior citizens: banks must compute taxable income after deductions and deduct tax accordingly.
A specified bank must compute the total income of a specified senior citizen after allowing Chapter VI-A deductions and the section 87A rebate, and deduct income-tax at the rates in force; the senior citizen need not file a return under section 139 for the assessment year in which tax is so deducted. A specified senior citizen is a resident individual aged seventy-five or more, receiving pension and only interest from accounts in the same specified bank, who has furnished the prescribed declaration; a specified bank is a notified banking company.
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