Withdrawal of deposits under NSS or deferred annuity plan exempted from TDS under section 194EE
Section 194EE of the Income Tax Act, 1961 (the Act) provides for deduction of tax at source (TDS) @ 10 per cent in respect of deposits under National Savings Scheme or payment to a deferred annuity plan.
CBDT has issued Notification No. 27/2025 dated 04.04.2025 to provide that no deduction of tax shall be made under section 194EE of the Act on payment of amount referred to in clause (a) of sub-section (2) of section 80CCA, which is withdrawn by an assessee being an individual w.e.f. 04.04.2025.
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