National Savings Scheme payments to an assessee's heirs qualify for no tax deduction when statutory deposit conditions are satisfied. No tax deduction at source applies to payments made to the heirs of an assessee in respect of specified deposits under the National Savings Scheme. The ... Summary
National Savings Scheme payments to an assessee's heirs qualify for no tax deduction when statutory deposit conditions are satisfied.
No tax deduction at source applies to payments made to the heirs of an assessee in respect of specified deposits under the National Savings Scheme. The treatment is available only where the payment relates to deposits within the prescribed category and is made to an heir of the assessee. Payments under the Scheme remain ordinarily subject to tax deduction at source unless these conditions for non-deduction are satisfied.
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