Resident senior exemption: withholding under section 207 removed for seniors without business or professional income.

The amendment inserts a sub-section excluding resident individuals from the withholding provisions where the individual has no income chargeable under the head Profits and gains of business or profession and is sixty years of age or more at any time during the previous year, thereby creating an age-based and source-of-income condition that removes the application of the withholding rule for qualifying senior resident taxpayers.

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