Submit Form 15G, Form 15H To Bank To Avoid TDS Deduction. Five Things To Know

When you are entitled to receive interest from banks, they are supposed to deduct the tax deducted at source (TDS) before crediting the interest to your account. The TDS is meant to be deducted when the interest income shoots beyond Rs 10,000 per annum. However, when you are not liable to pay income tax, then you can inform the bank by submitting the form 15G/ form 15H and avoid paying the income tax in form of TDS. Want To Avoid TD...