Notification/Circular No. – Notification No. 27/2025
Document Date – April 4, 2025
Applicable Act/Rule – Income-tax Act, 1961
Applicable Section/Rule – Section 194EE, Section 80CCA(2)(a)
Central Government has notified that no tax shall be deducted at source (TDS) under Section 194EE of the Income-tax Act on payments related to withdrawals from the National Savings Scheme (NSS), as specified in clause (a) of Section 80CCA(2), if such withdrawal is made by an individual.
This exemption applies from the date of publication of the notification, i.e., April 4, 2025. The move aims to provide relief to individual investors withdrawing their matured NSS balances by ensuring they receive the full amount without TDS deduction.
Disclaimer: The information contained in this Article is intended solely for personal non-commercial use of the user who accepts full responsibility of its use. The information in the article is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. We make no representation or warranty of any kind, express or implied regarding the accuracy, adequacy, reliability or completeness of any information on our page/article.