Income Tax Saving on FD: Fixed Deposits (FDs) provide an investor guaranteed returns in the form of interest earned on deposits. One can also get tax exemption on deposits of up to Rs 1.50 lakh under ...

However, if an individual's total interest income is below the taxable limit, then they can submit Form 15G and 15H to the bank and request them not to deduct any TDS. Representative image. Source: ...

As per the Income Tax Act of 1961, financial institutions like Bajaj Finance must deduct TDS if the interest income of customers investing in FDs exceeds Rs. 40,000 in a financial year (this limit is ...

Ideally, these forms should be submitted before the start of the financial year for which TDS is to be deducted or before the first income payment which is subject to TDS. (Image: Reuters) Question: ...

Did our AI summary help? Union Budget 2026: In a move aimed at simplifying tax compliance for retail investors, Finance Minister Nirmala Sitharaman in her Budget 2026 speech proposed enabling ...