TDS on Fix Deposit of 5 year (Form 15-H)

Harshit (Arbitrager) (215 Points)

11 March 2011  

Hi,

 

I was Planning to invest in Fix Deposit of 5 years to get an exemption under 80C, I was reading an article and it stated

 

"The interest earned on your investments will be subject to tax deduction at source. However, in case if you have no other
income apart from interest income, then in order to avoid Tax Deduction at Source (TDS), you can submit a declaration in Form 15-H (for general)."

My Query is


1) What does it mean "in case if you have no other income apart from interest income", I have income from my Business so I am not Eligible to fill the Form 15-H?


Please guide me on the Same
.


Thanks & Regards,

Harshit Patel