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TDS on bank interest explained: Tax deduction rules above Rs 50000 under Income Tax Act 2025 - All you need to know

The Income Tax Department has clarified that all entities classified as 'banking companies' under the Banking Regulation Act, 1949, will be required to deduct tax at source (TDS) on interest income ...
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Income-tax returns: Form 121 replaces Form 15G, 15H — Who is eligible, where to download and how to avoid TDS, explained

The new Income-Tax Act (ITA) 2025, which came into force from last month (1 April), replaced the original Tax Deducted at Source aka TDS forms — Form 15G and 15H — with a single Form 121. Overall, the ...