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 ...

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 ...

Senior citizens have an effective tool in Form 15H, which can help them prevent Tax Deducted at Source (TDS) deductions on interest earned from fixed deposits exceeding Rs 1 lakh. Under the new income ...

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 15H is a self-declaration for non-deduction of taxes at source which can be submitted by an eligible person to the payor of specified incomes. Specified incomes includes income from provident ...

Income Tax Saving on FD: Fixed Deposits (FDs) provide an investor guaranteed returns in the form of interest earned on deposits. One can also get tax exemption on deposits of up to Rs 1.50 lakh under ...

If you are meant to receive an interest income from a bank and your total annual income is likely to stay lower than the minimum threshold that qualifies for tax liability then you must intimate the ...

Income Tax Return: April is a great opportunity to proactively plan your tax strategy for the upcoming fiscal year. One effective way to do so is by utilizing Form 15G or 15H to avoid Tax Deducted at ...

However, if an individual's total interest income is below the taxable limit, then they can submit Form 15G and 15H to the bank and request them not to deduct any TDS. Representative image. Source: ...