CBDT advises banks not to deduct TDS if interest paid to senior citizens doesn’t exceed Rs. 50,000

The CBDT has clarified that no tax is required to be deducted under section 194A in case of senior citizens where the amount of interest paid or payable during a financial year doesn’t exceed Rs. 50,000

from taxmann.com News https://www.taxmann.com/topstories/222330000000017250/cbdt-advises-banks-not-to-deduct-tds-if-interest-paid-to-senior-citizens-doesn’t-exceed-rs-50000.aspx