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Claiming tds from it dept on scss

24 October 2012

Hello,

I understand that the interest from Senior Citizen Savings Scheme (SCSS) is fully taxable but the interest income of my parents is well below the IT slab for senior citizens.

1) Can they avoid TDS by sumitting Form 15H/15G?

2) If above is not possible, can they claim back the TDS from IT dept as refund by filing IT returns?

Regards,

Praveen

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2 Replies

Ashish M (Chartered Accountant) (2731 Points)
Replied 24 October 2012

Its better that Form 15H be submitted to the relevant authority as after that, tax will not be deducted. Othe wise return need to be filed to claim Refund.

in my view, form 15H be submitted.

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 24 October 2012

Originally posted by : Ashish M
	Its better that Form 15H be submitted to the relevant authority as after that, tax will not be deducted. Othe wise return need to be filed to claim Refund. in my view, form 15H be submitted.