Ways to Reduce or Save Tax on Fixed Deposits If your total income for the year is below Rs 2.5 lakh, you can submit or use  form 15G / 15H . This will ensure that the bank does not deduct TDS since income does not fall in the taxable slabs and you are not liable to pay any taxes. 15 G : For below 60yrs 15 H : For senior citizen , above 60 yrs What is Form 15G and 15H? Form 15 G When a depositor’s annual income is less than Rs.2.5 lakh (or Rs.3 lakh for senior citizens) and tax due is nil, then the depositor must file Form 15G or Form 15H with the bank requesting the bank to not deduct TDS on interest income from FDs exceeding Rs.40,000 or, in the case of senior citizens, Rs.50,000. Form 15H Form 15H is similar to Form 15G, except that Form 15H is exclusively for senior citizens who are 60 years and above in age. Conditions For Form 15H The depositor should be 60 or above of age Annual income should be less than Rs.3 lakh in case of senior citizens and Rs...

Are you amazed of this title? Yes! I know I am writing this post after 10 days of budget 2018 India. I really took myself a time to breath, time to come out of shock, time to read and understand. Writing here is honestly great pleasure but updating about new trends in budget 2018 India is a responsibility as well. Budget 2017 India was a historical budget with GST, Tax exception upto 3 lacks & basically the date shifter from 28th Feb 2017 to 1st Feb 2018. That was also historical being a first combined Railway & Finance Budget in India. After freedom from British Empowerment, we are still following few of British Rules like Finance Year is From April 1st to March 31st unlike English Calender Year !! On that front budget 2018 India was bit dissapointing from Investors Point of View. Finance Budget India 2018 : Dissappointing for Investors Appreciated a launch of Bidget as Farmer's Bidget. India is rich with Green Materialistic Propoerties & one should be proud of on...