As per a CBDT notification, form 15H has been amended, now senior citizens with taxable income up to Rs. 5 lakh can claim TDS exemption in lieu of interest on their deposits with bank and post offices. It is to be noted for TDS exemption claim, earlier the limit was set at Rs. 2.5 lakh.
Neha Malhotra, Executive Director shares her views on aforementioned story for PTI.
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