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Tds

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20 April 2012 My bank deducted tds. I given form 15h for not deducting, but they deducted and saying FD above 15 lakh no rebate on TDS. I wnat to know, is it right FD above 15 lakh form 15h not applicable.
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swasti

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swasti (Expert)
20 April 2012 According to my knowledge there is no such clause and if Form 15G/15H is submitted to the bank in time, bank should not deduct TDS. Form 15G is meant for non-senior citizens whereas Form 15H is meant to be used by senior citizens.
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