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of <h1>CBDT clarifies no TDS u/s 194A for senior citizens with income below Rs. 50,000 annually.</h1> The Central Board of Direct Taxes (CBDT) has issued a notification clarifying that under section 194A of the Income-tax Act, 1961, no Tax Deducted at Source (TDS) should be made for senior citizens if their income or the total income credited or paid during the financial year does not exceed fifty thousand rupees. This clarification addresses instances where some TDS deductors or banks have been incorrectly deducting TDS from senior citizens whose income falls below this threshold. The Principal Director General of Income-tax (Systems) is responsible for ensuring compliance with this provision.
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