Finance Minister Nirmala Sitharaman proposed to rationalise TDS and TCS slabs and thresholds in the Union Budget. "The limit for the tax deduction on the interest for senior citizens is being doubled from the present ₹50,000 to ₹1 lakh," said Sitharaman. "Similarly, the annual limit of ₹2.40 lakh for TDS on rent is being increased to ₹6 lakh," she added.