TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens - reg.

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..... 6/2018 New Delhi, 06th December, 2018 Subject: - TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens - reg. It has been brought to the notice of CBDT that in case of Senior Citizens, some TDS deductors/Banks are making TDS deductions even when the amount of income does not exceed fifty thousand rupees. The same is not in accordance with the law a .....

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..... e manner so specified. 3. In exercise of the powers delegated by the Central Board of Direct Taxes (Board) under sub-rule (5) of Rule 31A of the Income-tax Rules, 1962 , the Principal Director General of Income-tax (Systems) hereby clarifies that no tax deduction at source under section 194A shall be made in the case of Senior Citizens where the amount of such income or, the aggregate of t .....

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