Fixed Deposit: If you have also made a fixed deposit in any bank, then it is necessary for you to submit Form 15 G and Form 15 H. Let’s know why.
If you have not submitted Form 15G and Form 15H, then your TDS can be deducted. Know further what is its last date.
A bank official said that the form can be submitted anytime from April 1 to March 31. Generally we advise our customers to submit these forms in the month of April so that they can work without tension throughout the year.
Actually, FD holders have to submit two forms 15G and 15H every year. If the interest received in a year exceeds a certain limit, then banks deduct TDS on the interest amount.
This limit is Rs 40,000 for the financial year 2019-20 and Rs 50,000 for senior citizens. The same is applicable for the year 2021-22, 2022-23 as well.
