15h if interest above rs. 3 lakhs?

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287 Points Joined October 2018

Good Evening Members

Please help me on following query:-

Estimated Interest on FDR for AY 2020-21 for a senior citizen is Rs. 3.40 lakhs. Her estimated Net Income for AY 2020-21 will be 2.80 lakhs. Can she give 15H for AY 2020-21 to the bank for non-deduction of tax on interest?

Thanks

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On 20 April 2019 at 19:24 Report
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274 Points Joined January 2018

Yes, Form 15H can be submitted as age is more than 60 years and tax calculated on total income is nil.

Form 15H can be submitted although interest income exceeds basic exemption limit.

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On 20 April 2019 at 20:03


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