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Income Exempt from TDS – Exemption Limit change for Senior Citizens- India Regulation (Doc ID 2430272.1)

Last updated on SEPTEMBER 26, 2019

Applies to:

Oracle FLEXCUBE Core Banking - Version 11.6.0.0.0 and later
Information in this document applies to any platform.

Goal

 Steps to apply new tax exemption limit for all senior citizen customers on the overall interest income from deposits effective from 1-Apr-2018.

Solution

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In this Document
Goal
Solution
 Case 1: For banks who already have separate customer type(s) created for Senior Citizen and/or Super Senior Citizen.
 Case 2: For the banks who don’t already have separate customer type(s) for Senior Citizen and/or Super Senior Citizen
 Addendum:

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