TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 194EE: 20% TDS on National Savings Scheme Withdrawals, Plus 12% Surcharge; Exemptions and Penalties Detailed.</h1> The circular outlines the provisions of Section 194EE of the Income-tax Act, 1961, introduced by the Finance Act, 1991, effective from October 1, 1991. It mandates a 20% tax deduction at source on withdrawals from the National Savings Scheme, with an additional 12% surcharge. Exemptions include payments below Rs. 2,500, payments to heirs, and cases where individuals declare nil tax liability using Form No. 15-I. Responsibilities for tax deductors include timely payment to the government, issuing certificates in Form No. 16A, obtaining a TAN, and filing annual returns. Penalties apply for non-compliance with these requirements.
TaxTMI 
TaxTMI 
