The Ministry of Finance issued an official notification to simplify the tax compliance burden for individual taxpayers through the Central Board of Direct Taxes (CBDT).
Saloni Kumari | Apr 5, 2025 |
![TDS Exemption on Payments in Respect of Deposits Under NSS [Know More]](/cdn-cgi/image/fit=contain,format=webp,gravity=auto,metadata=none,quality=80,width=1200,height=730/wp-content/uploads/2025/04/INCOME-TAX-EXEMPTION-ON-PAYMENTS-IN-RESPECT-OF-DEPOSITS-UNDER-NSS.jpg)
TDS Exemption on Payments in Respect of Deposits Under NSS [Know More]
The Ministry of Finance, Department of Revenue, issued an official notification (No. 27/2025) on 4th April 2025 in the Gazette of India. The notice is aimed towards simplifying the tax compliance burden for individual taxpayers through the Central Board of Direct Taxes (CBDT).
According to the notification (S.O. 1615(E)), the Central Government, by exercising the powers granted under sub-section (1F) of section 197A of the Income-tax Act, 1961, the Central Government has specified that no tax deduction will be made under section 194EE on the payment of an amount referred to in clause (a) of sub-section (2) of section 80CCA when withdrawn by an individual, on or after the publication date of this notification in the Official Gazette.
For more information, refer to the official notification. The link is given below.
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