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) ...

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 ...

TDS is the process of collecting tax as and when the income is generated. It streamlines the process of collecting taxes for the tax department. TDS is applicable on several incomes such as salary, ...

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 ...

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 ...

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 ...

If you are eligible to fill Form 15G/15H and have completely forgotten to submit it, then the bank would follow the usual practice and deduct TDS on interest income. Have you ever wondered that even ...

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 ...

Form 15g/15h for PF withdrawal works like a declaration that one is having an annual income of less than Rs 2.5 lakh. Form 15g/15h for PF withdrawal is required when the PF account is less than five ...

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 ...