If you invest in certain instruments like bank fixed deposit, recurring deposit and corporate deposit, the interest you earn is taxed. Banks and post offices will deduct TDS (Tax deducted at source) ...

Ideally, these forms should be submitted before the start of the financial year for which TDS is to be deducted or before the first income payment which is subject to TDS. (Image: Reuters) Question: ...

TDS is the process of collecting tax as and when the income is generated. It streamlines the process of collecting taxes for the tax department. TDS is applicable on several incomes such as salary, ...

This explains why FD reporting to tax authorities and TDS on interest follow different thresholds. The key takeaway is understanding bank-wise limits prevents confusion and unnecessary ...

Income Tax Saving on FD: Fixed Deposits (FDs) provide an investor guaranteed returns in the form of interest earned on deposits. One can also get tax exemption on deposits of up to Rs 1.50 lakh under ...

With the start of the new financial year, it is time to file Form 15H and Form 15G to avoid the tax deduction at source (TDS) while computing the interest earned during the financial year. These forms ...

State Bank of India (SBI), in a communication through Twitter said account holders can submit Form 15G and Form 15H online using internet banking facility. The Central Board of Direct Taxes (CBDT) has ...

This being the first quarter of the financial year it is important for all the people who want to receive interest without deduction of tax to submit form 15G and 15H immediately to the banks Let us ...

Individual investors fill up Form 15G and 15H to avoid tax deduction at tax. However, one should take due care while submitting these forms. Senior citizens may have a certain preference for Senior ...

The Central Board of Direct Taxes has extended the validity of Form 15G and Form 15H till June 30, 2020. These two forms are normally filed by tax payers, whose income is not taxable - to avoid ...