My sister made her first FD and is now very disturbed


KF Rookie
My sister saved all her money and made her very first FD of life of 8lakh FD with her bank with 6.1% ROI annually.
Now that the FD is near to mature, She just realized that the bank will deduct TDS on it and is very unhappy with that.
Someone suggested about form 15G to her but I don't feel she comes under non taxable income bracket.
She is currently going through a tough time as she spent most of the money in treatment and medicines so she's very disturbed now.
Is there anyway she can save the TDS, any tips will be appreciated.
Thank you.


KF Mentor
There are a few things which need to be considered such as below.
1. Interest income of Deposit will be liable to tax if the same is above the limit (i.e Covered in limit of TDS)
2. Income earned needs to be shown as Interest income in ITR
3. TDS deducted if any, can be refunded by Income Tax, if proper tax planning is done for the year
4. For Tax Planning various things are considered such as Income, Tax savings done and deductions if any., which you can consult with from Professionals on one to one basis rather than a public platform, as these are confidential details.
It's my first post here, be kind. Nervous and fingers crossed.

Alright so yes bank do love to deduct TDS. Yes, 15G can be a way depending on 2 things. Amount of interest earned and what the taxable income is.
Since I do this 15G/H thing a lot I can tell you can always submit 15G either online or offline but its success rate depends on if bank is private or public and if the employee is lazy or not. Practice in public banks these days is if the interest amount is above 50k they deduct TDS anyway regardless of 15G. Then they ask you to file IT return to get the amount back.
Now coming to IT return part, check if there is scope of adjustment there by 80C deductions or taking health insurance (since you don't have pay tax on the premium paid).


KF Rookie
Thank you so much for your time and replies guys.
Very much appreciated prince and hoodedRobin
I am adding a few details that I know so I think the interest she is suppose to earn is 48k
And like I said earlier I think she doesn't come under non taxable income bracket, I think she has a 7LPA salary package which is her taxable income but due to the medical treatment and multiple surgeries she's on leave without pay since last few months and might not be able to work for few more months so in that case this money will be utilized for her hospital and medical expenses.
Any way to avoid TDS deduction in her case?


Staff member
Ideally Form 15G should be filled before customer gets any interest from the Bank, now this could be quarterly, yearly or on maturity depending on what instructions are given in the FD form.

If your sister hasn't got any interest on the FD till now, ideally she should be able to submit form 15G.