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of <h1>CBDT Issues TDS Guidelines for Interest on Deceased's Capital Gains Accounts; Follow Rule 31A and Rule 37BA.</h1> The Central Board of Direct Taxes (CBDT) has issued guidelines regarding Tax Deducted at Source (TDS) on interest from deposits under the Capital Gains Accounts Scheme, 1988, when the depositor is deceased. Banks are instructed to issue TDS certificates for interest earned up to the depositor's death using the deceased's PAN. For interest earned after death, the TDS should be reported using the legal heir's PAN. This is in accordance with Rule 31A of the Income-tax Rules, 1962. The Principal Director General of Income-tax (Systems) has specified these procedures, effective immediately, with necessary declarations under Rule 37BA.
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