Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest
Updated : May 23, 2019 04:18 PM IST
Earlier, the limit for seeking Tax Deducted at Source (TDS) exemption was Rs 2.5 lakh.
The Central Board of Direct Taxes (CBDT) has issued a notification amending Form 15H to give effect to the Budget announcement. The Union Budget 2019-20 has given full tax rebate to individuals having a taxable annual income of up to Rs 5 lakh, benefitting around 3 crore middle class taxpayers