Section 194P allows specified senior citizens to receive interest without TDS if they file a declaration and meet income thresholds notified by the government.
Eligibility snapshot
- Age 75 or more (verify current rules)
- Only pension and interest income within limits
- File declaration with bank in prescribed form
- Still file ITR and pay tax if liability exists
Pair with senior citizen ITR guide, Form 15G / 15H, and FD interest in ITR.
