Senior citizen tax slab and FOrm 15H applicability

POSTED BY akila mahesh ON April 29, 2013 2:45 pm COMMENTS (5)

Dear Ashal,

My mom is a Sr. citizen and she is earning around Rs.2.8L as interest from FDs in bank. Should she pay TDS / Would TDS be deducted? If so pls. let us know how much TDS would she pay for earning of Rs.2.8L as interest from FD?

Thanks,
AKila.

5 replies on this article “Senior citizen tax slab and FOrm 15H applicability”

  1. akila mahesh says:
    April 29, 2013 at 6:19 pm

    Thanks ashal

    Reply
  2. Ashal Jauhari says:
    April 29, 2013 at 5:12 pm

    Dear Akila, the TDS ‘ll be applied on 2.8L Rs. & thus @ 10% the TDs amount ‘ll be 28000 Rs.

    My workable solution for her, please that much amount from the FDs as the remaining interest falls below 2.5L Rs. & thus making her eligible to file form 15H. The redeemed amount is to invested in Debt fund growth option & do not redeem it for next 2-3 years.

    Thanks

    Ashal

    Reply
  3. akila mahesh says:
    April 29, 2013 at 3:22 pm

    Pls confirm if the tax would be 10% on (280000-250000) = 3000 + sevice charges applicable rite?

    Reply
  4. Ashal Jauhari says:
    April 29, 2013 at 2:55 pm

    Dear Akila, is her sole income is this 2.8L Rs. interest or there is more income say pension? Please confirm.

    Thanks

    Ashal

    Reply
    1. akila mahesh says:
      April 29, 2013 at 3:19 pm

      Yes this is her sole income which is invested in Sundaram finance. Shez getting 2.8L as interest and only income for this financial year…

      Reply

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