Dear Friends,
My brother is working in a software company in Bangalore, now he is in europe on a project since last 3 years.
He has made a Fixed deposit in ICICI bank for 4 lacs. Now his online statement is showing TDS deducted @ 10 % on interest accrued on last 2 quarters.
His annual salary is around 5 lakhs. Pls advice if he can avoid the tax on FD interest, if so pls guide me through.
I have heard about form 15g but not sure about it. pls advice.
Thank you.
u have heard right.
ur brother needs to file form 15G for non deuction of tax. Go to bank and they will help u,courier it to him for signature.
All this will be helpful for FY 2013-14.
For the FY 2012-13, file IT return and get refund as the tax has already been deducted.
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
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