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: ...

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: ...

Banks deduct TDS when your interest income for a financial year crosses Rs 40,000. This interest income limit is Rs 50,000 for senior citizens under section 194A of the Income Tax Act. For tax ...

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 ...

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 ...

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 ...

When it comes to tax, the well-established rule is that no income can escape it, except in cases where your income is lower than the taxable threshold. In such circumstances, your income is exempt ...

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 ...