I have an annual income of ₹4 lakh from EPFO pension and interest income. I invest ₹1.25 lakhs in Equity Linked Savings Scheme (ELSS). Am I eligible for giving Form 15H? Or I have to allow TDS and claim refund while filling returns?
- B K Aglave
A senior citizen can submit Form 15H to the bank only if the final tax on the computed income as per the provisions of the Income Tax Act is nil. Simply put, if your net income is below the taxable limit of ₹3 lakh, you can file From 15H. Since you are earning ₹4 lakh and you don't have to pay any taxes after deducting ₹1.25 lakh invested in tax saving mutual fund schemes under Section 80C, you can file Form 15H.
This article was originally published on June 16, 2017.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
