POSTED BY March 6, 2014 3:54 pm COMMENTS (4)ON
I am aware of the eligibility criteria for submitting Form 15G to bank for non deduction of TDS on interest. In a case of a salaried Husband (H) and homemaker Wife (W) whose sole income is from bank deposits, whether W can submit 15G in the following 2 cases:
1. The interest received (less than 2Lakh – current threshold limit of 15G) by W is clubbed with H’s income.
2. W receives interest from 2 separate/different banks totaling more than 2L but the individual interest received from each bank is less than 2L and there is no tax liability for W due to her 80C savings.
Thanks in advance for clarification and regards,