Anitya ( ) (287 Points)
20 April 2019Good Evening Members
Please help me on following query:-
Estimated Interest on FDR for AY 2020-21 for a senior citizen is Rs. 3.40 lakhs. Her estimated Net Income for AY 2020-21 will be 2.80 lakhs. Can she give 15H for AY 2020-21 to the bank for non-deduction of tax on interest?
Thanks
Nayan Reddy
(accounts)
(274 Points)
Replied 20 April 2019
Yes, Form 15H can be submitted as age is more than 60 years and tax calculated on total income is nil.
Form 15H can be submitted although interest income exceeds basic exemption limit.
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