Union Budget 2025: FM Sitharaman Announces TDS Rationalisation, Higher Exemption Limits For Senior Citizens
Finance Minister Nirmala Sitharaman announced today that TDS rates will be rationalised in the 2025 Budget, providing much-needed relief to taxpayers.
The tax deduction limit on interest for senior citizens is set to double from the current ₹50,000 to ₹1 lakh.
Additionally, the minister stated that the TDS threshold on rental income will be raised to ₹6 lakh.
The rationalisation aims to simplify TDS by reducing the number of rates and thresholds at which tax is deducted.
(More details awaited)
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