Hi Members
Please help me in following query.
An assessee becomes senior citizen in Dec. 2019. She already have FDs in the bank and her estimated interest income for FY 2019-20 will be Rs. 55,000. The bank will be giving benefit, of extra interest to senior citizen, to her only after she crosses age of 60. Now for avoiding TDS on interest in FY 2019-20, which form she should submit to the bank - 15G or 15H?
Thanks
If her age is less than 60, then 15G, otherwise 15H.
She will be 60 years in Dec. 2019. Now if she submits 15G in April 2019, will she needs to submit 15H, with new/renewed deposits again in Dec. 2019.
Yes..but I would suggest to talk with the branch officials regarding the issue. If they allow to submit 15H in April'19 then she can do the same.
CAclubindia
