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TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens

It has been brought to the notice of CBDT that incase of Senior Citizens, some Banks are making TDS deductions eventhough the amount of income does not exceed fifty thousand rupees. In view of this, The Central Board of Direct Taxes vide Notification No. 06/2018 dated 06th December, 2018 has clarified that no tax deduction at source under section 194A shall be made in the case of Senior Citizens where the amount of such income or, the aggregate of the amounts of such income credited or paid during the financial year does not exceed fifty thousand rupees.

https://www.incometaxindia.gov.in/communications/notification/notification6_2018_tds .pdf