Validity of form 15 G and 15 H on Interest on fixed deposit

This query is : Resolved

CD SHARMA (Querist)
Follow

06 November 2025 Sir,
1. If a person below 60 years age earns interest on fd during the financial year 25 - 26 Rs. 4 lacs and submit form 15 G, then whether bank will deduct tds?and 15 g will be valid.

2. What is the limit of interest on fixed deposit earns, when 15 g and 15 H become invalid, and bank will deduct tds even after giving form 15 G and 15 H. Please note that 4 lacs as interest earn on fd is made in 3 banks separately and each bank interest on fd is less than 2 lacs.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

07 November 2025 1. Yes, if estimated total income including FD interest is up to 4 lakhs for new regime.
2. For form 15G the individual's tax liability for the year must be nil, i.e., after considering eligible rebates and deductions, the net tax payable should be zero.
3. If interest income from the bank's FD is expected to result in zero tax liability (even if the total income exceeds the basic exemption, after deductions and rebates), Form 15H can be submitted by such senior citizen to avoid TDS.

CD SHARMA

CD SHARMA (Querist)
Follow

07 November 2025 Thanks sir. Highly obliged
अगर एक ब्यक्ति 6o से कम उम्र वाला जिसकी सैलरी इंकम 7 lac हो और fd interest income 5.75 हो, तो क्या 15 G दिया जा सकता है? क्योंकि standard deduction के बाद tax liability nil होगी l
क्या बैंक 15 g देने के बाद भी tds काट सकता है, अगर Interest income 5.75 lac हो और annual estimated income 12.75 lacs हो (7 lac salary +5.75 lac fd interest) क्युकी standard deduction के बाद tax liability zero होगी l
🙏

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

07 November 2025 1. No. Aggregate income exceeds basic exemption limit.
2. Yes, interest income is more than 4 lakhs.

CD SHARMA

CD SHARMA (Querist)
Follow

07 November 2025 1.इसका मतलब है कि अगर बैंक tds काटता है तो क्या हमें बाद में ITR भरने बाद refund मिल जाएगा क्युकी aggregate income standard deduction के बाद 12 lac होती है?
2. अगर अलग अलग बैंक में fd हैं (3 बैंक में) जिनका कुल Interest 4 लाख होता है लेकिन किसी भी एक बैंक में इंटेरेस्ट 3 लाख से अधिक न बनता हो, तो क्या फिर भी 15 g दे सकते हैं?
3. किसी भी बैंक में सालाना Interest 3 लाख से अधिक नहीं है और 15 g देने के बाद भी tds काट सकते हैं बैंक?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

07 November 2025 1. Yes.
2. No, as the aggregate income is above basic income limit
3. No, if declared filing under new regime, But the assessee will be liable for action against wrongful declaration.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

09 November 2025 Good luck...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now