Amendment of section 194A.

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..... b), and sub-clause (c) shall have effect as if for the words ten thousand rupees , the words fifty thousand rupees had been substituted. Explanation.-For the purposes of this clause, senior citizen means an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year; . - Clause 47 of the Bill seeks to amend section 194A of the In .....

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..... oposed to amend the said section so as to provide that in case of senior citizen, the said interest amount is increased to fifty thousand rupees. It is also proposed to define the expression senior citizen . These amendments will take effect from 1st April, 2018. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmana .....

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