This discussion clarifies the submission deadlines for Form 15H (and 15G) for the Financial Year 2020-21. While the ideal submission date is April 15th to avoid TDS, banks often accept them until April 30th. The key is to submit if your total income from all sources falls below the taxable limit, regardless of individual interest income thresholds per bank.
Sir, Same question Suppose Mr. Ram has a two fD in separate separate bank. where interest income is one fD 29600 and 2nd fD is interest income is 22400 . one bank suggest you summit 15G because your interest is increase from 10000 but 2nd bank suggested no need to submit 15g because interest is fD less the 40K so lots of confusion please suggest
Bank need to deduct tds on interest more than 40000. But you need to check your income if it is less then taxable limit.then submit form 15g for non deduction.