Why Form 15G or Form 15H?

1.Below 60 yrs, Indians,HUF's and trusts are eligible to give 15G.
2.above 60yrs i.e.senior citizens are eligible to give 15H.
3.NO TDS deduction:earned interest upto Rs.40,000 for normal citizen
4.No TDS deduction: earned interest upto Rs.50,000 for senior citizens.
5.if limits are crossed TDS will be 20%on earned interest
6.every financial year you can submit these forms in the month of April.
7.in case TDS will be deducted,not to return.u can get the refund by filing ITR.
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