It is mandatory for the Company to deduct Tax at Source if the estimated annual interest paid /credited on the Deposit exceeds Rs.5,000/- during the financial year. However, those Depositors who are not assessed to Income Tax may furnish a self-declaration in Form 15G or 15H (for Senior Citizens) so that tax is not deducted […]

Form 15G and Form 15H (for Senior Citizens) are self- declarations given by those Depositors who are not assessed to Income Tax. Should the Depositor not be able to sign the Form their left-hand thumb impression will suffice. The left hand thumb impression must be attested by a Gazetted Officer or Bank Official.

Declaration in Form 15G can be made by an Individual or a person (not a Company or Partnership / Proprietorship Firm). A Company or Firm cannot submit declaration in Form 15G or Form 15H. Form 15G is for Resident Individuals below 60 years of age. Form 15H is for Resident Individuals who are Senior Citizens […]

For the Tax deducted at source, Tax deduction certificates in the prescribed form 16A, giving details of the interest remitted to Income Tax Department will be sent on a quarterly basis if the interest on the deposit is paid quarterly. For the Tax deducted at source (TDS) certificate Form 16A will be generated by the […]

No. As salaried persons are also assesses form 15G/15H cannot be furnished

No. All deposits held in the same name, or in the same order of names (in case of joint deposits) are required to be clubbed together for the purpose of Income Tax computation.

No. Form 15G/H must be furnished during renewal of every deposit as also whenever an additional deposit is made during the financial year.

As per Reserve Bank of India directions, no withdrawal of deposit is permitted within three months from the date of Deposit/renewal of Deposit. (not applicable in the event of death of a depositor)

Yes. Premature withdrawal can be made after 3 months from the date of deposit/renewal as per the Directions of Reserve Bank of India and the terms and conditions of the Company.

Deposit Application Forms are available at all our Branches or can be downloaded from our website.(Certificate copy can be provided on request)