Upto what income-a senior citizen- getting Interest income only-can file 15 H. What we understand is it is Rs.2.5 lacs. If his interest income is above 2.5 ;lacs it means he is not entitled to file 15-H. In that case all the banks wherever he has FDRs will deduct TDS whereas he is required to pay tax only on the interest income exceeding 2.5 lacs and also after claiming deductions on the saving Rs. 1 lac in PPF/ELSS or anyother scheme. How will he recover excess of TDS deducted by banks.
It is implied that if he is having income of Rs.3.5 lacs he is not required to pay income tax. and he can file FORM 15-H to avoid TDS.Pl conform this.
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