New TDS rules for PPF, other small savings schemes: Check details here

Rules apply only for cash withdrawals of non-ITR filers

savings, schemes, funds, cash, insurance, tax, salary
Premium

In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman had said senior citizens above the age of 75, who only have pension and interest as source of income, will be exempted from filing ITR

Bindisha Sarang Mumbai
The Department of Posts (DoP) — trading as India Post — has issued new rules for tax deducted at source (TDS) if the aggregate withdrawal from all post office schemes is more than Rs 20 lakh.

Kapil Rana, founder and chairman, HostBooks, says, “DoP has brought the withdrawal from all post office schemes under the preview of Section 194N and will deduct tax in accordance with the provisions mentioned in this Section.”

Some of these schemes are Public Provident Fund, National Pension System, and Sukanya Samriddhi Yojana.

Also Read

Covid-19 makes small savings the prime channel for parking individual money

Covid-19 effect: Small savings cross Rs 1-trillion mark in first 6 months

Covid, income fears see shift to single-premium plans. How good are they?

Interest rates on small savings kept unchanged for fourth quarter of FY21

A quick and simple guide on tax compliance ahead of the March 31 deadline

Govt cuts interest rates on small savings schemes effective from April 1

Rejig wage structure to benefit from EPF rule change, say analysts

Finance Bill gives relief on digital tax, provident fund threshold

Interest on EPF taxable, partial withdrawal not allowed after retirement

If you want higher returns, and are prepared for volatility, opt for NPS

First Published: Apr 01 2021 | 6:10 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com