Tds
This query is : Resolved
23 January 2015
I am a senior citizen. I had submitted form 15H in April 2015. Subsequent to my submitting the form my income from interest has increased beyond the limit permissible for senior citizen. The bank has informed that they will withdraw the form 15H. My question is now whether the bank will deduct TDS on interest income paid so far or only for the interest that will be paid now on wards?.
My other view is that banks should deduct TDS on income beyond the exemption (3000000 for senior citizen) and not on total interest income paid.
My other view is that banks should deduct TDS on income beyond the exemption (3000000 for senior citizen) and not on total interest income paid.
23 January 2015
Bank will deduct TDS on interest income paid so far. Bank will deduct on total income paid. File return and get refund.
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