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.
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