A bank deducts 10% TDS if the interest payable on a customer’s fixed deposit exceeds ₹50,000 ( ₹1 lakh for senior citizens) ...
As per the Income Tax Act, 1961, bank depositors had to submit Form 15G/Form 15H to the bank to avoid Tax Deducted at Source (TDS). Some depositors were confused about which of the two forms applied ...
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