Tax on Interest Income of Senior Citizen

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  1. drgyan1968

    drgyan1968 New Member

    what will be income tax if net interest income from fixed deposit is 5 lac of senior citizen
    can he give 15 h
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Income above Rs. 3 Lakhs is taxable in case of Senior Citizens. As your income is taxable, therefore you cannot submit Form 15H.

    The exact tax applicable on your income would depend on Investments done by you which are allowed to be claimed under Section 80C
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