Banks deduct TDS when your interest income for a financial year crosses Rs 40,000. This interest income limit is Rs 50,000 for senior citizens under section 194A of the Income Tax Act. For tax ...

My wife, 45, is a homemaker. Last year she invested Rs. 5 lakhs in a bank FD on which she is getting Interest after deduction of tax. Can she submit form 15G to the bank? Does she need to file her tax ...

A Provident fund is a government-managed retirement savings scheme for employees who can contribute a part of their pension fund every month. And, Form 15G is a declaration that can be filled out by ...

As per the Income Tax Act of 1961, financial institutions like Bajaj Finance must deduct TDS if the interest income of customers investing in FDs exceeds Rs. 40,000 in a financial year (this limit is ...

Representational image. If your income is less than the basic exemption threshold of ₹2.5 lakh per year, you can submit Form 15G.(Mint) Question: I am a student and have no income except the interest ...

The Income Tax Department has extended the deadline for filing Income Tax Returns (ITRs) for the financial year 2024-25 (assessment year 2025-26) to September 15, 2025. This applies to individual ...

Can non-residents submit Form 15G for the receipt of interest income without the deduction of tax at source? Is it mandatory to inform the banks about the change in residential status? Today's Ask ...

Indian taxpayers face five essential tax deadlines on April 30, impacting declarations, TDS deposits, and forms 15G and 15H. These crucial dates could influence financial compliance and planning. The ...