<h1>Government Raises TDS Limits: Interest Income for Seniors Doubled, Rent Threshold Increased, TCS Adjustments Announced</h1> The government has proposed to double the Tax Deduction at Source (TDS) limit on interest income for senior citizens from Rs 50,000 to Rs 1 lakh. Additionally, the TDS threshold on rent will increase from Rs 2.4 lakh to Rs 6 lakh. The Finance Minister announced these changes during the Budget speech, aiming to simplify TDS rates and thresholds. The threshold for Tax Collected at Source (TCS) on remittances under the RBI's Liberalized Remittance Scheme will rise from Rs 7 lakh to Rs 10 lakh, with TCS removed for education-related remittances funded by loans from specified institutions.