Form 15h

I am a retired Asoct Professor from Osmania University, Hyderabad and living in Hyderabad.  I am 65 Yrs Old Female.  I get pension from the University.  I live in Hyderabad.

I have been investing in 5 year Tax Saving Deposit in Sate Bank of India and Canara Bank from 2012 ever year and I was claiming the benefit in my returns.  I was also calculating Interest Accrued every year on these deposits and accordingly submitted my returns and paid tax.  So far I have not defaulted on payment of tax and my returns have been accepted without any problem.

I have JUST COME TO KNOW that I was required furnish form 15H EVERY YEAR TO THE BANKS so that TDS from the deposits at the time of maturity is avoided.  There is no problem in submitting forms 15H now for this year, is there any way I can furnish 15H for the previous years.  How do I go about.  Will the banks accept 15H for old years from AY 2012-13?  Otherwise what can be done at the time of maturity of deposits to avoid TDS.

Another question is when the Deposit Matures after 5 Years, will TDS be on whole 5 Years interest or will it be on only the 5th year?

I would like to avoid getting TDS certificate on maturity nd claim refund.

 

Can anyone come forward with solutions.

Thanks in advance

Malatgi Murali    muralikavi @ rocketmail.com

Replies (1)
Will the banks accept 15H for old years from AY 2012-13?

The form no. 15G or 15H as the case may be, should be submitted at the beginning of the year so as to avoid a situation where bank has already deducted the tax before you submit the form. However in case the bank deducts the tax in spite of you having submitted the form or before you actually submit the same, the bank will not refund the tax already deducted, as the bank would have already deposited the tax with the government. In such a situation the only option available with you is to file your income tax return and claim the amount of TDS a refund.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details