Senior CItizen Interest Income Tax Rules 2024 | FD & Saving Account - TDS and Income Tax Rules 2024

Senior CItizen Interest Income Tax Rules 2024 | FD & Saving Account - TDS and Income Tax Rules 2024
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In this video, we have discussed about income tax tds rules on interest income for senior citizen. Interest income may arise from saving account, fixed deposits or any other deposits. As per income tax act, resident Indians above age of 60 years are referred as senior citizens.
Topics covered in this video
interest income itr filing
fd tds return filing online
15g-15h kya hai
tax on fd interest
fd interest taxable or not
tds rate on fd interest
tds refund kaise hoga
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[@sureshzachariah2979]

Inflation is rising but tax limits are not raised medical expenses are expensive due to high taxes on them. Senior citizens who rely on interest income are badly hit, but who cares.

[@javedahmad4392]

बकवास वीडियो भाई सीधे सीधे यह बताओ इतनी धन राशि जो इ़टिरेस्ट में मिलती है यह टैक्स फिरी है ओर इससे अधिक राशि जो साल में ब्याज की मिली सीनियर के लिए कितनी धन राशि एक साल की बयाज मुक्त हैं

[@BankingBaba]

Jo rule hai, wo hi bataunga, apni taraf se thori kuch bhi bol dunga sidha sidha ki, koi amount se jyada tax free nhi h. Agar tumko samaz nhi aaya to firse dekho, mene to puri tarah sahi jankari di hai.

[@gopalkrishnanigam6613]

Recurring deposit interest is not calculated for TD's

[@swarnsingh2154]

😊​@@javedahmad4392

[@irenemisquitta4895]

​Why saying Bakwas . It is explained well n all is right ok Mr. Javed bro..​@@javedahmad4392

[@deepalijoshi7843]

Pl share a video for 80+ senior citizens regarding Income tax and TDS on FD

[@jain_nb]

Nowadays, income from interest from all sources is already pre-filled in ITR return. No chance of evasion.

[@rajinderpaul710]

बहुत अच्छी जानकारी दी है आपका बहुत बहुत धन्यवाद जी।

[@gvsarma9208]

All income tax paying persons are aware of the said rules. What are the revised rules ? Explain please.

[@rakeshshukla5331]

Very very useful. Thanks a lot.

[@ankitarora1842]

Very useful information so ty bro god bless you

[@mohinderlal1812]

Nice explained.thanks

[@yasminsingh-h7t]

You ae making it so complicated. Explain in a simple way.

[@irenemisquitta4895]

Explained well. Tks sir

[@chandravijayshah1991]

Nicely explained in Lucid Language.

[@awadheshprasad9125]

Excellent thanks

[@ranjanmaity702]

What is the tds rate FY 24-25

[@idanoronha]

Thank you for your information.

[@rahuldahe]

No. 1 video

[@VijayPandey-u6i]

Income per Duble tax GST n income tax le Rahi hai government. Kya ye sahi hai

[@GurmelSingh-qx8er]

Income Tax Limit Should Not Be Less Then 20 Lac At Present Normal Standards Of Livings.

[@ramveersinghrathore9464]

Very nice information thanks dear Rajesh ji

[@uootuber]

kya senior citizens ke do bank me FD karwane par combined interest par TDS lagega ya individual bank par lagega ? Thoda Doubt hai, aapne video me clear nahi kiya. Maine kisi aur video me dekha tha ki senior citizens ke liye max 60,000 ₹ Interest income kisi ek financial year me tds ke under nahi aata. Please answer.

[@rahuldahe]

Nhi. Combine tds nhi lagta. 2 alag alag bank honi chahiye. Jaise ek sbi to dusri icici is tarah. Ek hi bank do alag alag branch ki bhi nhi chalegi. For example. Sbi me 50000 aur icici me 50000 tak tds nhi kata jata.

[@rohitjain8266]

8:35 You said that senior citizens should submit Form 15h in each financial year. Brother, when our interest is not more than 50000 then why should senior citizens submit Form 15h?

[@dalsukhbhaiprajapati1323]

Please arrange calculator of income tax new and old

[@ashokp4536]

The Rules are explained in detail in this video. However, these rules are not new. This video refreshes the viewers. Form 15H should be submitted to all banks in the month of April every year so long as a deposit is active. Senior Citizens are exempt from paying Advance Tax. But Advance Tax may have to be paid quarterly if a Senior Citizen has business income. Else, interest may have to be paid for the default amount and period. A hint at Accrued Interest and its implications, the importance of collection of “Interest Paid Certificate” from banks could be of interest to some people.

[@rashmigs2878]

Thanks for the explanation! for a senior citizen with a FD, the bank has asked to pay the TDS due to not linking of PAN and AADHAR. When I check the 26AS form, the TDS has not been deposited so I cant even claim a refund through the income tax dept. Is the bank responsible to pay the TDS to the IT? Bank is now put some amount on hold calling it a penalty for not linking PAN and AADHAR while they have not paid the TDS against the PAN to the IT. Who is responsible to fix this? please advice! Additionally I have paid a penalty of Rs. 1000 for not linking the PAN and AADHAR in time. The 15H form has already been filled and I have a proof of the same.

[@BankingBaba]

That's consequences of not linking pan with aadhaar on time. Only you are responsible

[@rashmigs2878]

@@BankingBaba right, I understand! my question now is if I can claim a refund of the same by filing IT returns?

[@ramkrishankatoch1892]

Which bank . There may be some another story. Bank is completely responsible to deposit the amount to the IT depptt deducted as tds.

[@SuwarathRam-yn2hd]

कृपया ये बता दीजिए कि FD SCSS Scheme me maturity period पूरा हो जाने के बाद Extend कराने पर Extension Period मे क्या u/s 80c का लाभ मिलता है

[@sudhirkantmakani9972]

What about ointerest earned on SCSS2004 and Edelweiss bond interest?

[@rajarshisarkar4923]

Agr bank se fd ka interest k saath Rd ka v interest aaye to TDS kaise calculate kare? Plz guide

[@nandlalram3730]

A lot of thanks!

[@MKumar-h8s]

Income se kya mtlb Gross income ya Net taxable income

[@amitdahiya-zr8lr]

Senior citizen ki FD per Bank ne TDS 20% se bhi zyada kaat liya hai aur kaha ki surcharge bhi hai isme, but PAN card already deposit kar rakha tha, 15H bhi timely diya tha. Can you tell me what is this surcharge aur kya ye every single FD ke interest par kaat liya jayega in a same bank

[@vibekakham692]

Sir, what if a senior citizen have only interest income and there is no other source of income and his interest income is 2 lakh per annum, will IT be deducted from his interest income. Thank you

[@dharmanandnautiyal6736]

, Sir joint account mein kitne 13:03 13:03 intrest par TDS katata hai.

[@jnram3159]

What about Super Sr Citizen case?

[@SKhan-qi3xz]

Very useful info ...thank you brother 🙏

[@dilkhushmotish7659]

Senior citizen ka riteyarment ke kitne din baad tak khul sakta hai

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@nahalamarjeet]

THANKS FOR INFORMATION. MY QUESTION IS WHETHER TDS CAN NOT BE DEDUCTD WITHOUT SUBMITTING FORM NO 15 H. IN OTHER WORDS BANK SYSTEM NOT DEDUCTING TDS BY NOT ENTERING FORM NO 15H IN THEIR SYSTEM. CAN IT BE POSSIBLE.?

[@susmitamandi1243]

Sir, mujhe jamin sales ka 6lakh paisa mila,mujhe ish paise 90 days ke liye Sbi branch me FD karnaa hai. Kya mujhe 15 G form filup karna padega??????????? Pls bataiye 🙏🙏🙏🙏🙏

[@saurabhpandey6171]

Nice information

[@chandrakantkadam7778]

Very Informative.

[@SumitYourSubscriber]

Nice video sir 👍

[@rajdk6884]

I need one clarification as per IT act, the amount received of PF and VPF is it taxable? [At the time of retirement or withdrawing during service only PF/VPF portion < is it allowed > ] How much anyone can contribute towards VPF. Should anybody pay tax on PF+VPF+Interest earned?Please clarify.

[@sureshsethi6217]

रिटर्न नही भरेंगे तो बैंक जो टीडीएस काट रहा है इंटरेस्ट इनकम पर वो कैसे क्लेम करेंगे?

[@BankingBaba]

अगर TDS कट गया, और claim करना है तो केवल 1 ही रास्ता है, रिटर्न फाइल करो

[@nahalamarjeet]

ONE IMPORTANT THING YOU FORGOT. DEPOSIT 15H/15G TO BANK & DONT FORGET TO GET PROPER RECEIPT WITH OFFICIAL SIGNATURE & SEAL. OF BANK I FACED---------BANK DENYED HAVING RECEIVED 15H & I HAD TO FACE THE MUSIC.

[@ramkrishankatoch1892]

Bank always send massege while deducting tds if 15 h is not entered you may remind the bank.

[@irenemisquitta4895]

For ICICI BK.They ask 15H or 15 G for every fd. Pl.note this.

[@MrsDhillon-i7v]

Pl let me know if there is any rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ in personal pension?

[@BankingBaba]

Yes, 15000 deductions from family pension And 50,000 from self pension both are allowed.

[@ravishankarsingh3174]

Sir agar ciniercitizen ka fd interest 400000 hoto TDS kitna Kate ga?

[@BankingBaba]

TDS Rate, interest ka 10% fix hai means 40000. Agar pan card nhi jama hai bank me to 20%

[@ravishankarsingh3174]

@@BankingBaba sir may ray parents ka age above 70+ hai too v TDS Lage ga kya?

[@ssnnrr]

Are you in Mumbai?

[@Sumanta14301]

Sir tex pay kaha karana hai

[@jagannathrao6689]

Namasthe.

[@Pankhuri-Kumari]

Sir, my Father age is 65 year, he have FD in bank of 5 Lakhs for 2 years. total interest on maturity is ₹ 68,366.00. 1st year interest will be ₹ 1,164.62 March-Apr 23-24 2nd year Interest will be ₹ 39,899.15 Apr-March 24-25 3rd year interest will be ₹ 27,302.23 Apr-March 25-26 Total Interest will be ₹ 68,366.00. for 2 years will bank Deduct TDS on interest ₹ 68,366? Because Interest Earn on FD for 2 year is above 50k limit. Do he need to fill 15H form? (Retired Person) no any other Source of income. Please Answer.

[@rahuldahe]

Nhi sir. Tds sirf ek financial year me count hota hai. Aapka tds nhi katega. Ek sal me agar 50000 se jyada interest aa rha hai tab hi tds katega.

[@ashokmike2585]

No... Your not submitted 15H... TDS deduction for every quarterly( 3months), must submitte TDS

[@velururamesh8733]

Thank sir, thank sir

[@sanjaysrivastava7928]

Form 15 H ( 28 March - 03 April ke beech)

[@sureshchandragupta2548]

Agar hamari income 5 lakh se zyada he to kya hum 15 H form bhar sakte hein taki TDS nakate? Pl clarify.

[@BankingBaba]

Yes

[@KUL-t3z]

Agar income 12 lakh ho fir bhi 15 G/ 15 H submit krva skte hai ,agar 20 lakh ki FD bank mein krva rakhi ho ,other than senior citizen?

[@baldevraj9462]

Abi tex seven lac. Tak nain hai esh bare batana chaye

[@BankingBaba]

Banaya hua hai uspe bhi video, channel pe dekhe

[@ramprasadagrawal3279]

You are giving bonus infomation my income is 60000 and on dposir I got6000 but bu

[@SKhan-qi3xz]

Mujhe ek question tha ...kitna amount bank ke FD mei safe hai ...God forbid agar bank doobta hai toh ..yaane humko hamari rakam wapas mil sakti hai ?

[@SwatiSamant1965]

As per my knowledge ₹ 5 lakhs. Utne hi amount ka insurance hota hai

[@sarangingle3590]

Yes it is upto 5 lakh. But this 5 lakh includes your Principal Amount plus Interest.

[@SKhan-qi3xz]

Thank you for the reply. 🙏

[@pritpalSingh-pe8cc]

Only five lac in one bank .

[@SKhan-qi3xz]

@@pritpalSingh-pe8cc bohot shukriya

[@ngkrishnan]

Please do not customers just as politicians. FM has said that no income ta x for any income or i terest income upto Rs.1200000. Please confirm what is mentioed is correct or not.

[@ramkrishankatoch1892]

If income is above 12lac another 75 thousand is allowed as standard deduction with some conditions as details not been given yet .incase total income is raised 1275000 the income tax is payable leaving four lac say from 4,00001🎉as per the slab rate. No government or public is after raising this of exemption limit for 2025-26. At present ie for 2024-25 it is it is three lakh instead of four lakh .I think it is clear now .

[@ananthacharpuranik9492]

All the of income are taxable.

[@sunillal4151]

sir 15 h jab jama karna hi hai to itni kahani kyo bata rahe hain confuse mat kijiye

[@Blessed-y7j]

Bhai puch h SCSS me tax deduction ke baare me... Or tu idher-udher ki BAAT Bata Raha h😡

[@adilakshmitirugabattini7720]

Sirscss account bank opened so this is govt plan I think for the interest quarterly tds deductible sir please reply sir. Form15.h submitted at the time of begining.

[@ashokp4536]

Form 15H should be submitted to all banks in the month of April every year so long as a deposit is active.

[@rabindranathghosh1652]

250000/-

[@cksaha8781]

वही पुरानी कहानी कुछ नई बात बताईए

[@choprasahib5574]

Naya kya hai isme? Sab kuchh to purana hi hai.

[@vijayvadera4558]

Anything new. These are well known facts. Time barbar mat karo bhai.

[@anandas3733]

Nothing new bro

[@AshokGupta-cu1yl]

Very slow person. Very shame.go fast

[@shammidhingra6338]

KYA AAP ITR BHI FILE KARVAATE HAIN? AGAR HAAN TOH AAPKE CHARGES KI RANGE KYA HA? MAY I HAVE YOUR MOBILE & WHATSAPP NUMBER?

[@sanjayjoshi8965]

ये गलत बोल रहा है सीनिअर सिटिजन अगर पोस्ट मे सीनिअर सिटिजन अकाउंट मे 15 H फॉर्म भरने से टी डी एस नहीं काटा जाता गलत है मैंने 15H फॉर्म हर साल भर कर देता हू फिर भी मेरा हर साल टी डी एस पोस्ट ऑफिस कट रहा है

[@BankingBaba]

Me Galat nhi bol rha, Na hi mene koi Rule banaya hai. Jo rule hai Wo bata rha hu kewal, Ab agar aap post office me Form 15h jama krwate hai toh uska acknowledgment post office se lia kro, or uske baad bhi agar TDS cut ho rha hai to complain kro. Bina acknowledgment ke complain nhi kr paoge

[@ashokp4536]

टीडीएस काटने के कारण, 15H जमा करने का तथ्य रिकॉर्ड में दर्ज नहीं होना, या एक बैंक में FD पर अर्जित ब्याज 50,000 से अधिक होना, हो सकता है |

[@NilamaniSahu-de9rl]

Thanks for your information.

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?

[@MrsDhillon-i7v]

Pl let me know if there is rebate of Rs 15000/ on family pension along with rebate of Rs 50000/ of personal pension in new tax system?