TDS on interest income

Amendment on Form 15H – Senior citizens can claim higher TDS exemption on interest income

TDSMAN01 mins

As per CBDT Notification No. 41/2019 dated 22/05/2019, senior citizens with a taxable income of up to 5 lakh can now submit in banks and post offices Form 15H to claim exemption from TDS on interest income on deposits. Earlier, the limit for seeking TDS exemption was 2.5 lakh. CBDT Notification No. 41/2019 dated 22/05/2019

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TDS on interest on deposits under Capital Gains Accounts Scheme, 1988 where the depositor has deceased

TDSMAN01 mins

CBDT has issued a clarification on TDS charged on the interest on deposits made under Capital Gains Accounts Scheme, 1988 if the depositor has deceased. As per the notification no 08/2017 dated 13th September, 2017, it has been clarified that the interest on TDS on the interest income accrued for and upto the period of…

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