No tax on up to Rs 50k interest for senior citizens

​​​In a notification issued on December 6, it has clarified that no TDS has to be deducted under section 194-A of the Income Tax (I-T) Act in the hands of senior citizens, unless their interest income in the aggregate exceeds Rs 50,000 in a year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Pu4Nrc