To avoid TDS deduction on your fixed deposit (FD) interest in India, you can submit Form 15G or Form 15H to your bank before the due date at the beginning of each financial year. These forms are self-declarations that inform the bank that your income is below the basic exemption limit and that TDS should not be applied on your FD interest. If you are under 60 years old, you should use Form 15G, and if you are 60 or older, you should use Form 15H. You will also need to provide your PAN when submi
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To avoid TDS deduction on your fixed deposit (FD) interest in India, you can submit Form 15G or Form 15H to your bank before the due date at the beginning of each financial year.
Tax-eazy. . To avoid TDS deduction on your fixed deposit (FD) interest in India, you can submit Form 15G or Form 15H to your bank before the due date at the beginning of each financial year. These forms are self-declarations that inform the bank that your income is below the basic exemption limit and that TDS should not be applied on your FD ...
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TDS is often equated with final tax payable by NRIs. But they differ since TDS is applied at the source to prevent tax evasion. In this regard, Section 195 of the Income-tax Act, 1961 specifies the TDS provision in the case of an individual making a payment by way of interest or any other amount other than salary to an NRI or a foreign company. Non-Resident Indians (NRIs) also need to file their tax returns for the income earned in India. Similarly, they can also claim the tax deducted at source
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