A new circular has been issued to resolve the issue of withholding interest for senior citizens who have deposits of less than Rs. 100,000. Dr. Ranjith Siyambalapitiya, the Minister of State for Finance, has announced that a dedicated officer has been appointed at the inquiry point of each office of the Inland Income Tax Department to address any related concerns.
Furthermore, individuals can also obtain information by calling the number 1944.
The Minister of State provided a detailed explanation of this matter in a video statement, offering clarification on the steps taken to address the interest withholding problem for senior citizens.