Interest on fd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2014
I want to submit 15 G for FD interest in the bank so that bank do not deduct TDS as the income is less than the taxable slab rate. But the person for whom I want to submit 15 G is 59 yrs of age & in the month of April he will turn 60 i.e. Senior citizen. So now my question is whether I should wait for him to turn to 60 & submit 15 H or I submit 15 G as of now so that bank stop deducting TDS from FD interest. Please suggest appropriate answers.
26 March 2014
15H shall be applicable only for next financial year...for current FY 2013-14, 15G shall continue.
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