IT Dept. - Clarifies no Sec. 194A TDS on Senior citizens’ income not exceeding Rs. 50,000

DIT(Systems) clarifies that no TDS deduction u/s. 194A shall be made in case of senior citizens where the amount of income or aggregate amount of income credited or paid during the financial year does not exceed Rs. 50,000; Takes note of instances where despite provision contained in 3rd proviso to Sec. 194A, some deductors / Banks are making TDS deductions in case of senior citizens even when the amount of income does not exceed Rs. 50,000.