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of <h1>Income Tax Bill 2025 Clause 393 modernizes TDS framework for interest income with updated thresholds</h1> The Income Tax Bill 2025's Clause 393 consolidates and modernizes the tax deduction at source framework for interest income, replacing Section 194A of the Income-tax Act 1961. The provision maintains threshold limits of Rs. 50,000 for general taxpayers and Rs. 1,00,000 for senior citizens when paid by banks, cooperative societies, and post offices, while other specified persons face a Rs. 10,000 threshold. The Bill retains existing exemptions for institutional recipients like banks, insurance companies, and cooperative society members, but freezes the government's power to notify new exemptions after April 1, 2020. The tabular format provides greater clarity and administrative efficiency while preserving branch-wise threshold computation and adjustment mechanisms for excess deductions.
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