Tds on retirement benefit

Querist : Anonymous (Querist) 30 May 2019 This query is : Resolved
I am an employer. My employee retired on 31/03/2019. Accordingly TDS returned has already been filed for FY-2018-19. Now I want to disburse Rs. 48,000 as his retirement benefit as per our policy in the month of June'19 . What rate of TDS I will deduct out of his retirement benefit, which may come U/S17(3) of IT Act i.e profit in liue of salary.

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kavksatyanarayana (Expert) 31 May 2019
Dear sir, the answer is yes. But it is better you post the query in CAclubinida for best replies.

Dr J C Vashista (Expert) 02 June 2019
Post your query in CA Club.
However, retirement benefits are exempted from income tax.

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