https://www.taxtmi.com/acts?id=39608 Section 194P requires a specified bank to compute a specified senior citizen's total income after Chapter VI-A deductions and rebate under section 87A, and to deduct income-tax on that total income at rates in force; the specified senior citizen is not required to file a return under section 139 for the assessment year in which tax is deducted. A specified bank is a notified banking company; a specified senior citizen is a resident individual aged seventy-five or more receiving only pension and interest from an account in the same specified bank and who furnishes a prescribed declaration. en-us Tue, 30 Mar 2021 15:17:55 +0530 Tue, 30 Mar 2021 15:17:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39608 Section 194P requires a specified bank to compute a specified senior citizen's total income after Chapter VI-A deductions and rebate under section 87A, and to deduct income-tax on that total income at rates in force; the specified senior citizen is not required to file a return under section 139 for the assessment year in which tax is deducted. A specified bank is a notified banking company; a specified senior citizen is a resident individual aged seventy-five or more receiving only pension and interest from an account in the same specified bank and who furnishes a prescribed declaration. Act-Rules F. Acts / Amendment Acts Tue, 30 Mar 2021 15:17:55 +0530 https://www.taxtmi.com/acts?id=39608