New TDS rules for post office schemes starting April 1, 2025

economictimes.indiatimes.com

New TDS thresholds for post office schemes begin April 1, 2025, impacting interest income. Senior citizens face TDS above Rs 1 lakh, general citizens above Rs 50,000. Interest on some post office schemes is taxable, with TDS applicable if income exceeds new limits. Schemes like RD and SCSS are affected, while NSC, PPF, and SSY have different tax treatments. TDS collects tax at the source of income. Budget 2025 doubled the senior citizen threshold for interest income from FDs and RDs.


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New TDS rules for post office schemes starting April 1, 2025 | News Minimalist