Section 194P : Deduction of Tax in case of specified senior citizen.

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....compute the total income of such specified senior citizen for the relevant assessment year and deduct income-tax on such total income on the basis of the rates in force. by specified bank on the total income of specified senior citizen for the relevant A.Y. computed after giving effect to- * Deduction allowable under Chapter VI-A and * Rebate allowable under section 87A. * No return of incom....

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....o is having income of the nature of pension and no other income except the income of the nature of interest received or receivable from any account maintained by such individual in the same specified bank in which he is receiving his pension income; and * (iii) has furnished a declaration to the specified bank containing such particulars, in such form and verified in such manner, as may be presc....

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....basis of the rates in force. [ Sub Rule (2) ] * The effect to the deduction allowable under Chapter VI-A shall be given based on the evidence furnished by the specified senior citizen during the previous year. [ Sub Rule (3) ] * Specified bank responsible for keeping and maintaining declaration and evidence furnished by the senior citizen * The declaration referred to in rule 26D(1) and evid....