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Query Details

Asked by Pankaj on :Jun. 19, 2018

My total income during this year is 30000 from in…

My total income during this year is 30000 from interest on fixed deposit. I do not have any other i…

My total income during this year is 30000 from interest on fixed deposit. I do not have any other income except this interest. Can I say to bank not to deduct tax on interest?

0

Jeeba Jun. 19, 2018

The bank is liable to deduct 10% TDS on interest fixed deposit if interest from FD exceeds 10000 during the year.

Since you are not under the tax bracket and want to avoid tax, you are advised to furnish Form 15G( for senior citizen)/15H to the bank.

If you fail to do so or unable to furnish stated forms then you can claim the refund of tax while filing income tax return.

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Harassing: Disrespectful or rude towards a person or a group. Spam: Promotes an undisclosed link or product or service. Ingenuine: Not seeking genuine answers. Rotten: Vulgar, Obscene, abusive etc... Alien: Not a post on law or business. Plagiarism: Copied from other website or source and pasted here. Unformatted: Has bad format, grammar, spelling so requires moderatation.

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