Can your bank cut TDS on interest income? Income Tax Department clarifies Income
Published on: March 30, 2026, 2:12 p.m. | Source: The Economic Times
The Income Tax Department has clarified eligible banks for TDS on interest under the new Income-tax Act, 2025, effective April 1, 2026. The definition of 'banking company' has been refined, impacting TDS applicability on interest below prescribed thresholds for general and senior citizens.
