Hi,
I am Hitesh and I have a query regarding the withdrawal of the term deposit.
The details are as follows..
The fixed deopsit mature on 3/8/2013.
My father passsed away. The other 2 names are of my mother and mine.
my mother is a house wife and dnt have any other source of income.. apart frm 2 lac invested in mutual fund.
i need to know wheather:
1. If I submit for H15 while withdrawing. Will the bank deduct the tax from the maturity value and return the rest or I will get the full matured value..
2. how long will the procedure take to get the formalities done and get the amount..
3..If any other tips or suggestions will be highly appreciated to make this transaction viable..main aim is to save tax .
Thanks in advance for your time..
would appreciate any replies on my email id... seaa.biscuit @ gmail.com or unbornaverage @ gmail.com
Regards,
Hitesh Mistry
CAclubindia
