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 ...

Form 15H is a boon for those senior citizens who have limited income but expect to earn more than Rs 1 lakh as interest from fixed deposit as this form may help them avoid the deduction of TDS under ...

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: ...

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 ...

Form 15H is required to be submitted by individuals who are of the age of 60 years or more claiming incomes without deduction of tax at source. Further, this has to be done for every payment. If there ...

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 ...

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: ...

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 ...