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 ...

Interest earned on savings schemes such as the Provident Fund, the National Service Scheme, the Post Office Savings Schemes is fully taxable. The tax on the interest earned is deducted at source (TDS) ...

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 ...

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 ...

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, ...

The bank is liable to deduct TDS if the interest earned during the financial year exceeds a certain limit. How to fill Form 15G: It is that time of the year when most fixed deposit holders make a dash ...

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: ...

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 ...