The X account post by Income Tax Department reiterates that banking companies are not required to deduct TDS where interest does not exceed the prescribed threshold. The clarification addresses the definition of “banking company” under the new law, noting that although the explicit reference to institutions covered under Section 51 of the Banking Regulation Act, has been omitted in the Income Tax Act, 2025, such institutions continue to be included within its scope. Accordingly, these banks and institutions remain eligible for the threshold exemption from TDS under the revised provisions.