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TMI BlogIs there any minimum amount upto which tax is not deducted?X X X X Extracts X X X X X X X X Extracts X X X X ..... 192 If net taxable income is less than the maximum amount which is not chargeable to tax (i.e. Rs. 2,50,000 for an individual other than senior citizen, Rs. 3,00,000 for Senior Citizens and Rs. 5,00,000 for Super Senior Citizens) 1A. No TDS from payment of accumulated balance of provident fund account due to an employee 192A If taxable premature withdrawal amount is less than Rs. 50,000. 2. No TDS from interest paid on debentures issued by a company in which public are substantially interested. Provided interest is paid by account payee cheque to resident individual or HUF 193 If amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 04/2019, the threshold limit is increased from Rs. 10,000 to Rs. 40,000. 6. No TDS from interest on any deposit with a post office under Senior Citizens Saving Scheme Rules, 2004 (Notified scheme) 194A If amount of interest paid or credited on time deposit during the financial year exceeds Rs 10,000 (*) (for all type of payee)/Rs 50,000 (from 01/04/2018 if payee is resident senior citizen) (*) w.e.f. 01/04/2019, the threshold limit is increased from Rs. 10,000 to Rs. 40,000. 7. No TDS from interest other than on securities if payer is any other person other than post office or banking company or co-operative society engaged on the ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts made out of deposits under NSS 194EE If amount of payment or aggregate amount of payments in financial year is less than Rs. 2,500. In case of payment is received by legal heirs no tax shall be deducted. 14. No TDS from commission paid on sale of lottery tickets 194G If amount of income the financial year does not exceed Rs. 15,000 15. No TDS from payment of commission or brokerage 194H If amount paid or credited during the financial year does not exceed Rs. 5,000 (Rs. 15,000 w.e.f. 01/06/2016). Further no tax to be deducted from commission payable by BSNL/ MTNL to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he financial year does not exceed Rs. 30,000. 19. No TDS from income in respect of units payable to resident 194K If the amount of income paid or payable exceeds Rs. 5,000 during the financial year. 20. No TDS on payment of compensation/enhanced compensation on compulsory acquisition of immovable property (other than Agricultural Land) to a resident person 194LA If such sum amount does not exceed Rs. 2,50,000 during a financial year. 21. No TDS is required to be deducted on sum payable to a person with respect to contractual work, commission, brokerage or for prof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Year doesn t exceed Rs. 20,000 26. No TDS from payment on transfer of Virtual Digital Asset 194S No tax shall be deducted under this provision in the following circumstance: If the consideration is payable by any person (other than a specified person) and its aggregate value does not exceed Rs. 10,000 during the financial year. If the consideration is payable by a specified person and its aggregate value does not exceed Rs. 50,000 during the financial year. Specified person means: (a) An individual or a HUF, whose total sales, gross receipts or turnover does not exceed Rs. 1 crore in case of business or Rs. 50 lakhs in case of a profession, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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