Tag: Budget 2025: Tax Relief on Interest Income – Exempting WHT Up to Rs.1.8Mn

The government has announced new provisions that will impact senior citizens and individuals with lower assessable incomes. Financial institutions will not deduct withholding tax on interest paid on deposits made by senior citizens, provided their assessable income from all sources does not exceed Rs.1,800,000/- for any year of assessment. Senior citizens must submit a declaration […]