The Ministry of Finance, via Notification No. 27/2025, has specified that withdrawals under clause (a) of sub-section (2) of section 80CCA of the Income-tax Act, 1961, made by individuals, will not be subject to tax deduction at source (TDS) under Section 194EE. This notification, issued under the authority of sub-section (1F) of section 197A of the Income-tax Act, becomes effective from the date of its publication in the Official Gazette. Essentially, individuals who withdraw amounts related to 80CCA after this notification are exempt from TDS under section 194EE.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 27/2025- Income Tax | Dated: 4th April, 2025
S.O. 1615(E).—In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 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section 194EE of the Act on payment of amount referred to in clause (a) of sub-section (2) of section 80CCA, which is withdrawn by an assessee being an individual, on or after the date of publication of this notification in the Official Gazette.
[F. No. 370142/13/2025-TPL]
SURBENDU THAKUR, Under Secy. (Tax Policy and Legislation)
