Kerala High Court held that Bank is not required to deduct TDS on interest paid to senior citizen who has provided Form 15H. Accordingly, Bank cannot be considered as assessee in default for ...

If you invest in certain instruments like bank fixed deposit, recurring deposit and corporate deposit, the interest you earn is taxed. Banks and post offices will deduct TDS (Tax deducted at source) ...

This explains why FD reporting to tax authorities and TDS on interest follow different thresholds. The key takeaway is understanding bank-wise limits prevents confusion and unnecessary ...

The revised Form 15H can now be submitted in banks and post offices to claim exemption from TDS on interest income on deposits.(Pradeep Gaur/Mint) The income tax department has issued a revised Form ...

Form 15H is for an individual who is of the age of sixty years or more while Form 15G is for all other individuals. If you have a bank fixed deposit, it’s time to make sure that your bank does not ...

I am a 62-year-old retired professional. I submitted Form 15H to my bank, but TDS was still deducted on my interest income. What should I do now? Also, when is the best time to submit Form 15H to ...

Ideally, these forms should be submitted before the start of the financial year for which TDS is to be deducted or before the first income payment which is subject to TDS. (Image: Reuters) Question: ...

Form 15G, Form 15H are filed by people whose income is below the taxable threshold SBI account holders can log into their accounts online and submit the forms SBI said account holders can submit Form ...

Individual investors fill up Form 15G and 15H to avoid tax deduction at tax. However, one should take due care while submitting these forms. Senior citizens may have a certain preference for Senior ...

The Central Board of Direct Taxes has extended the validity of Form 15G and Form 15H till June 30, 2020. These two forms are normally filed by tax payers, whose income is not taxable - to avoid ...