These can increase your tax liability and also result in penalties, fines and notices from the tax department.

Senior citizens can manage their Fixed Deposit interest income effectively. Banks deduct Tax Deducted at Source (TDS) on ...

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 ...

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 ...

State Bank of India (SBI), in a communication through Twitter said account holders can submit Form 15G and Form 15H online using internet banking facility. The Central Board of Direct Taxes (CBDT) has ...

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 ...

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 ...