The threshold limit has been doubled for senior citizens from April 1, 2025. The interest income from fixed deposits (FDs), recurring deposits (RDs), etc., will only be subject to deduction if the amount, at the aggregate level in a bank, exceeds Rs 1 lakh in a financial year for senior citizens. This means if a senior citizen keeps his/her interest income below Rs 1 lakh, then the bank will not cut any TDS.

Higher TDS threshold for general citizens

For non-senior citizens (general citizens), the government has increased the TDS threshold for interest income from Rs 40,000 to Rs 50,000, effective April 2025. The move aims to reduce the tax burden on depositors, particularly those relying on FD interest as a primary source of income. As per the revised rules, the bank will deduct TDS if the aggregate annual interest amount crosses Rs 50,000. However, the bank will not deduct any TDS if a general citizen keeps his/her interest income within the limit of Rs 50,000.

TDS on MFs or stocks

Investors in mutual funds (MFs) or stocks will gain from the increase in the exemption limit from Rs 5,000 to Rs 10,000 on dividends and income earned from MF units or specific companies.

Threshold hiked to Rs 10,000 for TDS on

UPS Provident Citizens Bill

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