Friday, June 15, 2007

TDS THRESHOLD FOR SENIOR CITIZEN SAVINGS RAISED

The threshold for exemption under Tax Deduction at Source (TDS) has been enhanced to Rs. 10,000 on interest on any deposit under senior citizens savings scheme for AY 08-09.

Bank Audit fee increased

RBI has recently announced increase in Statutory Bank Audit fees by about 25% from accounting year 2006-07. The revision of tax audit fee is also under consideration.

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