VISHU RAJPUT (Article Assistant & CA Final) (489 Points)
17 October 2012if my interest income from bank fixed deposit morethan 50000.. can i file 15 g or H for non deduction of tds !!! is there any ciruclor that if my intereest income on fixed deposit is more than Rs50000 than tds must be deucted on it irrespective of 15g and h filled !!
please help me
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 18 October 2012
Hi
You can submit form 15G to bank for non deduction of TDS.
U/s 194 A if Int on bank Deposits exceeds Rs. 10K TDS willl be attracted @ 10%, however if you submit For 15G, bank should not deduct TDS.
Rgds//Vaibhav
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114225 Points)
Replied 18 October 2012
No there is no such circular. If your income is below taxable limit then you can submit 15G/15H.
Bhaskaran Chackrapani Warrier
(Chartered Accountant)
(80235 Points)
Replied 20 October 2012
I support Gupta Ji.
CAclubindia
