Form 15H Eligibility

[Guest]

Hello,

I am senior citizen having pension income 230000 and interest income of 170000 totaling 400000.

I am also investing 150000 in ppf.

Can I submit form 15H to banks for not to levy TDS?

Or I have to pay TDS on interest earned and claim refund?

Keyur

AI Summary

Senior citizen earning below taxable threshold can submit Form 15H to avoid TDS on bank interest. A senior citizen with a total income of 400,000, comprising 230,000 from pension and 170,000 from interest, inquires about submitting Form 15H to avoid TDS. After investing 150,000 in PPF, their net income is 250,000, which is below the taxable income threshold for those aged 60 to 80. It is suggested that they are eligible to submit Form 15H to the bank to prevent TDS deduction. Another participant agrees with this advice, acknowledging the contribution to their understanding.