What to submit to bank to not deduct TDS on FDR interest if Income below Taxable Limit :

By | December 1, 2017
(Last Updated On: December 1, 2017)

I have made some deposits with a bank on which annual interest is around 15000. My income is below taxable limit. The banker wants to deduct tax. What do I do?

You can file a self-declaration to the banker in Form  15G/Form 15H (if age 60 years or more)  stating that your income is below taxable limit.

The form is available with your banker, the local Income Tax office and can be downloaded from the website www.incometaxindia.gov.in

This form should be filed before the interest begins to accrue in the fixed deposit account, since the declaration has no retrospective effect.

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