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Monday, July 20, 2020

How To Submit Online 15 G and 15 H form on SBI fixe Diposite

How To Submit Online 15 G and 15 H form on SBI fixe Diposite

Deductible TDS on annual income can be saved

Form 15G or 15H is valid for one year only

The limit for deducting TDS for senior citizens is Rs 50,000

Delhi. If you have invested in a fixed deposit in State Bank of India (SBI), TDS will be deducted on the profit earned on it. SBI will deduct 10% tax on your profits. If your annual income does not fall into taxable income, you can save tax deductible on this FD profit. For this you have to fill Form-15G and Form-15H (for Senior Citizen). The government has extended the last date for filling up the form till July 31, 2020.

TDS will be deducted if interest exceeds Rs. 10,000

You have to fill up Form-15G or 15-H and tell the bank that your annual income does not fall within the tax deduction limit. Therefore, TDS should not be deducted on your FD interest income. Under the new system, no income tax will be levied on income up to Rs 5 lakh. In such a case if your tax is zero then inform the bank by filling Form-15G. Also, SBI reduces TDS on FDs and RDs only when the interest on the investment exceeds Rs 10,000. The limit for senior citizens is up to Rs 50,000.

Form-15 G / H is valid for one year

Form 15G can be used by Indian citizens below 60 years of age, Hindu Undivided Family (HUF) or Trust. Similarly, Form-15H can be used by Indian citizens above 60 years of age. Form 15G or 15H is valid for one year only. It is required to be submitted every year. Refund of additional TDS deducted for delay in submission of this form can be availed only by filing Income Tax Refund. This form will not be accepted if you are unable to provide your valid page number.

Forms can be filled at home

There are 3 options for filling and submitting Form-15G. You can submit Form-15G or 15H through your Home Branch, Non-Home Branch and SBI Internet Banking Portal. Then click on e-Services. Now select Form 15G or 15H. Then click on Customer Information File (CIF) number and submit it. Clicking on the submit button will take you to a page that is already full of details. Then add other information. This online facility will only be available from 8 a.m. to 8 p.m.

SBI customers can submit Form 15G/15H online through SBI's website. Here is how:

1) Go to www.onlinesbi.com and login to your account with your user name and password.

2) Now click on 'e-services' tab to proceed.

3) Select option 'Form-15G/Form-15H' under the 'e-services' tab.

4) Select the CIF No. and click on 'Submit'.

5) Now, you'll be required to pick the branch code from where the shape is required to be submitted and click on on 'Submit'.

6) You have to fill the Part-1 of Form in which some information is already filled. Now, you'll proceed by filling up the remaining information.

7) There will be one option: 'Whether assesed to tax : If you file ITR, select yes, if dont' then choose, No.

7) Then click on 'Submit'. A new tab will open where you'll see all the small print once more . Check the details and click on 'Confirm'.

8) A one-time password (OTP) will be sent to your registered mobile number.

9) Enter the OTP and click on 'Confirm'.

10) Once the shape is submitted successfully, UIN number are going to be generated.

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