Form 15H for TDS

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This discussion addresses the challenge of submitting Form 15H for fixed deposit interest income during the lockdown period. While the usual submission is at the start of the financial year, the bank might allow a late submission via email given the circumstances. If TDS is deducted, filing an Income Tax Return (ITR) will be necessary to claim a refund. It's also advised to await government clarification on potential extensions for Form 15G/H.

PRIYA

PRIYA (Querist)
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30 March 2020 Due to the lockdown period since 22-03-2020, I have not been able to submit form 15H. I have made a fixed deposit which gives me a interest income of 55000 in the financial year 2019-20, will the last date of submission of form 15H be extended due to lockdown so that tax is not deducted by the bank?

Eswar Reddy S

Eswar Reddy S (Expert)
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31 March 2020 Generally form 15G/15H should be submitted in the beginning of the financial year.If the interest payment is yearly then you may submit in March.. Considering the present situation ,banks may allow you to submit. But contact your banker and submit scan copy / photo of of the form by email.Else mostly interest payment will be on 31st March or 1st April and they may deduct Tds..

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Eswar Reddy S

Eswar Reddy S (Expert)
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31 March 2020 If they deduct Tds then file ITR and claim refund