Submission of form: 15h
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2018
Sir,
A pensioner of 68 years old is having Gross Total Income of Rs : 3,90,000 /- with pension and bank int. ( Rs. 3,20,000 /- + 70,000 /- ) . After rebate u/s 80C ( Rs. 1,50,000 ) his Total Taxable Income is Rs. 2,40,000 /- . Tax liability is Nil . Can he submit Form : 15 H not to deduct TDS from his Bank Int. ?
Sudhir Saha
A pensioner of 68 years old is having Gross Total Income of Rs : 3,90,000 /- with pension and bank int. ( Rs. 3,20,000 /- + 70,000 /- ) . After rebate u/s 80C ( Rs. 1,50,000 ) his Total Taxable Income is Rs. 2,40,000 /- . Tax liability is Nil . Can he submit Form : 15 H not to deduct TDS from his Bank Int. ?
Sudhir Saha
12 October 2018
Yes, because estimated INCOME for declaration is Rs. 70,000 (interest) and
estimated TOTAL INCOME is Rs. 2,40,000 , well below the taxable limit.
estimated TOTAL INCOME is Rs. 2,40,000 , well below the taxable limit.
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2018
But Bank says , 15 H Form cannot be submitted if total income exceeds the basic exemption limit of taxable income before any deduction / rebate . Here basic exemption limit is Rs. 3,00,000/- so bank did not receive the Form 15H and as a result TDS was deducted .
Sudhir Saha
Sudhir Saha
16 October 2018
Then,please file return and seek refund being no other option available.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Refund of AY 22-23
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
