Submission of form: 15h

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2018 Sir,
A pensioner of 68 years old is having Gross Total Income of Rs : 3,90,000 /- with pension and bank int. ( Rs. 3,20,000 /- + 70,000 /- ) . After rebate u/s 80C ( Rs. 1,50,000 ) his Total Taxable Income is Rs. 2,40,000 /- . Tax liability is Nil . Can he submit Form : 15 H not to deduct TDS from his Bank Int. ?

Sudhir Saha

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 October 2018 Yes, because estimated INCOME for declaration is Rs. 70,000 (interest) and
estimated TOTAL INCOME is Rs. 2,40,000 , well below the taxable limit.

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2018 But Bank says , 15 H Form cannot be submitted if total income exceeds the basic exemption limit of taxable income before any deduction / rebate . Here basic exemption limit is Rs. 3,00,000/- so bank did not receive the Form 15H and as a result TDS was deducted .

Sudhir Saha