15g/h-int.income 1,50,000 agrl. income 7-8 lakhs


(Guest)

A depositor gets an amount of Rs.1,50,000 appx. towards interest.

The depositor has agriculatural income of Rs.7-8 lakhs appx. The depositor wants to give Form 15G/H.

Now the  ?   is can his claim not to deduct as his interest income did not exceed basic limit - correct.

Can the company accept Form 15G/H. (If possible quote relevant rules /sec. to enable me argue with that 'educated' wealthy individual)