Budget 2019: TDS on Post Office Deposits Up Raised to Rs 40,000
In a major relief to small savers, the TDS threshold on interest on bank and post office deposits has been raised to Rs 40,000 in the Interim Budget for 2019-20.
New Delhi, February 1: In a major relief to small savers, the TDS threshold on interest on bank and post office deposits has been raised to Rs 40,000 in the Interim Budget for 2019-20.
Presenting the budget, Finance Minister Piyush Goyal announced that the TDS threshold on rental income had been increased from Rs 1.8 lakh to Rs 2.4 lakh. The earlier TDS threshold on the interest on such deposits was Rs 10,000. Notional Rent Explained: In Budget 2019-20, Piyush Goyal Announces Tax Exemption On Deemed Rent On Second Self-Occupied Property.
(The above story first appeared on LatestLY on Feb 01, 2019 02:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).