Scheme has been notified from which if Interest Income is not exceeding the prescribed limit then TDS u/s 194A is not required to be deducted

Notification No. 27/2023/F. No. 370142/11/2023-TPL

Notification Date: 16^th May 2023

Applicable Date: w.e.f. 16^th May 2023

Relevant Act / Rule: Income Tax 1961

Relevant Section / Rule: Section 194A (3) (i) (C)

Scheme named the Mahila Samman Savings Certificate, 2023 has been added in the list of notified schemes for section 194A (3) (i) (c) wherein no TDS is required to be deducted if the interest income from the said notified scheme does not exceed Rs. 40000 (Rs 50000 in case of senior citizen) in a year.

Notification Link: https://incometaxindia.gov.in/communications/notification/notification-27-2023.pdf

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