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Tds for super senior citizens

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(Querist)
23 May 2014 should the bank deduct TDS on interests received on deposits made by super senior citizens if its above the limit of 10000 rupees ??
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CMA Girish P

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CMA Girish P (Expert)
23 May 2014 Yes. Rs.10,000 is limit irrespective of category of person.
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CMA Girish P

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CMA Girish P (Expert)
23 May 2014 If your total interest income for the year will not fall within overall taxable limits, then you should inform your bank and request not to deduct TDS on deposit, by submitting a form as per the provisions of the Income Tax Act. The forms required for different categories have been listed below:

Individual 15H
Trusts 15AA.
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CMA Girish P

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CMA Girish P (Expert)
23 May 2014 Now Interest on SB Account ( Now 4% interest) and RD is not considered for Rs.10,000 limit
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Rupesh Jain

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Rupesh Jain (Expert)
23 May 2014 you can file 15H form with bank if the income of individual not more than Rs. 500000/- in a year.
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