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.
Nikhil Kaushik
(Expert)
26 March 2014
15H shall be applicable only for next financial year...for current FY 2013-14, 15G shall continue.
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