Tax Deduction at Source

One of the major problems that a senior citizen faces is that of ensuring that there is no Tax Deduction at Source (TDS). This step is to be taken so that they don’t have to run around and wait for the refund from the income tax department. This problem was resolved in this budget when the definition for senior citizen was changed and brought down.

However in TDS, the eligible age to apply is 65, because of which many people couldn’t submit from 15H, as they couldn’t fulfill the age criteria. To tackle this situation, this provision also has been changed from 1 July 2012 and the age limit has been brought down to 60 years, so that people can submit from 15H and get relief though TDS.