TDS is calculated on the premise of a threshold restrict, which is the maximum degree of revenue after which TDS can be deducted from future earnings/funds.I’m the first particular person while she would be the second particular person in FD ao I can get the tax rebate for that amount below 80C.
In the worst case, convert it right into a paid up policy in order that no additional premium needs to be paid. A invests the cash in Tax Saving Schemes underneath Section eighty-C Rs.150000/=.
Will my tax be deducted in this case for the yr 20.
Part 194DA: Payment in respect of life insurance coverage policy.
File your quarterly TDS return with the IT division in accordance to the IT provisions.
For details to check which ITR to file – see the post below.