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    "Tax withholding limits enhanced," says Saraswathi Kasturirangan of Deloitte

    "Tax withholding limits enhanced," says Saraswathi Kasturirangan of Deloitte

    "Tax withholding limits enhanced," says Saraswathi Kasturirangan of Deloitte
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    By Saraswathi Kasturirangan   IST (Updated)

    Interest from bank accounts will be subject to TDS only beyond Rs 40,000 as against current Rs 10,000.
    House rentals being subject to TDS beyond Rs 1,80,000 will now be subject to TDS beyond Rs 2,40,000. This is not an across the board benefit. The benefit is available only where the taxable income is upto Rs 5 lakhs.
    This will benefit individuals with taxable income of Rs 3.5 lakhs by Rs 2,600 and taxable income of Rs 5 lakhs by Rs 13,000.
    The increase in standard deduction from Rs 40,000 to Rs 50,000 will provide a benefit ranging from Rs 2,080 to Rs 3,588 depending on income levels.
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