If you invest in certain instruments like bank fixed deposit, recurring deposit and corporate deposit, the interest you earn is taxed. Banks and post offices will deduct TDS (Tax deducted at source) ...

Form 15H is valid for one financial year, and it is submitted every year at the beginning of the financial year to ensure that the bank does not deduct any TDS on your interest income.

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 ...

Interest earned on savings schemes such as the Provident Fund, the National Service Scheme, the Post Office Savings Schemes is fully taxable. The tax on the interest earned is deducted at source (TDS) ...