Question ID : 44493

Submission of Form 15H / 15G

Dear Friends, I am A resident senior citizen (62 years of age) having only interest income of about Rs.6,50,000/= for Asst. Yr.2024-25. If I opt for the new scheme of taxation u.s.115BAC at the time of filing my Return of Income for Asst. yr.2024-25 then my Total Income will also be Rs.6,50,000/= and my tax liability will be NIL. Can I submit Form 15H to the Banks this year for non deduction of tax at source from my interest income. Also, can my wife (57 years of age) submit Form 15G to the Banks under the above similar conditions. Please advice accordingly. Thanks.

posted by Sudeep B. Sarwate on May 24 2023 12:00AM