Income Tax-Form 15 H

You can submit form 15H and ask for tds to be deducted at lower rates. However if 15H is already submitted for this fy then claim refund. But henceforth you can opt for tax at lower rates.

Thanks for guidance.

As I may have to pay only Rs 4000/- Tax Whether it will be proper to pay Rs 4000/- as advance Tax and then submit form 15 H to Bank as per CBDT's Notification on 30/09/2015.

Thanking you for cooperation

No normally 15H is required to be filled at the start of the fy. Hence it is advisable to submit the details in form 15H itself. Advance tax is not required in your given case.

Thanks for reply.

I request you to go through modified Form 15 G/ 15 H as mentioned above.These forms and modified procedure is operative from 01/10/2015

Thanking you again

Sorry. Made a mistake. Fill form 13 which is regarding deduction of tax at lower rates. And extremely sorry for quoting wrong form no. Form 13 is about asking permission to the AO to allow deduction of tax at lower rates. 

And also there is no need to pay advance tax. Since you being a senior citizen and not earning any business income, IT Act specifically exempts such person from payment of advance tax

Please find attached form 13 for ready reference

Hope this will help you.

Thanks for reply.

I am already paying Tax @ 10 % (Lowest)  as my income after deductions is less than 500000/-

Form 13 is not relevent in my case

It is good that you have spared time to to reply my querry.

Thanks again.

No you need to compare the tds amt and estimated tax liability. How did you determine that form 13 is not liable in your case.

Thanks. I shall take action as per your guidance as regards form 13