TDS on pension payment by bank to non-employees
This query is : Resolved
28 January 2010
In the case of Pension Payment by Bank to non employees, is there any requirement on the side of bank to deduct TDS on the amount of pension Paid ?
If Yes - than under which section and at what rate ?
If Yes - than under which section and at what rate ?
28 January 2010
Normaly bank will not deduct TDS on these pension. They just sign a form from pensioner that he will pay his tax himself.
28 January 2010
CBDT vide circular No. 771 dt. 3/11/98 says that in the case of pensioners receiving pension through nationalised banks, provisions of TDS are applicable in the same manner as they apply to the salary income.
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