Mediclaim/15G
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perumal maruthu
Mar 29, 2012, 2:28:05 AM3/29/12
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Dear sirs,
Those who have Mediclaim Policies may ensure that the Renewal Premium is paid within 31/3/12 to claim Tax Benefit.
Those who have invested in Term Deposits may pl submit Form 15G within 31/3/12 to enable your Banks not to deduct TDS on interest paid/to be paid.
If found redundant, pl ignore.
M.Perumal
Chennai
sureshbhat M
Mar 30, 2012, 12:48:08 AM3/30/12
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Dear Perumal ji 30/03/2012
Now Banks are deducting TDS on Qly basis on both FD and cumulative deposits. Hence, those who wish to give 15G need to submit at the beginning of financial year itself.
For eg. if 15G was not submitted already for 2011-12, banks have already deducted till Dec 2011.Now you can submit it only for Mar 2012 Qtr.
SO PLEASE NOTE TO SUBMIT 15G IN APRIL 2012 ITSELF FOR THE FINANCIAL YEAR 2012-13 WITH OUT FAIL.
With regard
Suresh Bhat M
Canara Bank SVRS
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vvns varaprasadrao
Mar 30, 2012, 1:48:46 AM3/30/12
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Dear Sir,
System will deduct TDS whenever the total interest paid on deposits exceeds Rs.10,000/- on any date beginning from 1st April during the financial year.
Hence, it is suggested to submit 15G/15H during the first week of April every year without waiting till the end of the quarter since it is one time submission for the entire financial year.
I may be corrected if I am wrong please!
With regards,
Varaprasad
Andhra Bank pensioner.
perumal maruthu
Mar 31, 2012, 12:32:52 AM3/31/12
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Dear Mr.Varaprasad Rao,
I am not disputing your view that Form 15G is to be submitted in the First week of April.
Unfortunately, the FIRST week is full of Holidays.
1/4/12.......Sunday
2/4/12.......Annual Closing
3/4/12.......ATMs go dry...Pandemonium in Banks... Entry & Exit without getting hurt is impossible in Metros.
4/4/12.......Holiday
5/4/12.......Status quo of 3rd will be repeated.
6/4/12.......Holiday
7/4/12.......Half-day....Branches work with truncated stregth
8/4/12.......Sunday
As some of our Pensioners may get monthly Interest on deposits credited on the Fisrst/Second/Third of every month, as a matter of abundant precaution only I informed to submit Form.15G.in time.
There is no harm in not submitting and claiming refund while filing your Tax Return.
Thank you for pointing out the lapse.
M.Perumal
Chennai
rajkumarnegi
Mar 31, 2012, 8:41:25 AM3/31/12
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please advise , whose pension is not taxable but gets the interest
more than Rs10,000/ on fixed deposits, should the pensioner submit the
15G/15H . for ex.Rs1,80,000/ pension+Interest om fixed
depositsRs1,00,000/ Less deduction under sec 80C Rs1,00,000/ , thanks.
Rajkumarnegi
more than Rs10,000/ on fixed deposits, should the pensioner submit the
15G/15H . for ex.Rs1,80,000/ pension+Interest om fixed
depositsRs1,00,000/ Less deduction under sec 80C Rs1,00,000/ , thanks.
Rajkumarnegi
On 3/31/12, perumal maruthu <perumal...@yahoo.co.in> wrote:
> Dear Mr.Varaprasad Rao,
> I am not disputing your view that Form 15G is to be submitted in the First
> week of April.
> Unfortunately, the FIRST week is full of Holidays.
> 1/4/12.......Sunday
> 2/4/12.......Annual Closing
> 3/4/12.......ATMs go dry...Pandemonium in Banks... Entry & Exit without
> getting hurt is impossible in Metros.
> 4/4/12.......Holiday
> 5/4/12.......Status quo of 3rd will be repeated.
> 6/4/12.......Holiday
> 7/4/12.......Half-day....Branches work with truncated stregth
> 8/4/12.......Sunday
> As some of our Pensioners may get monthly Interest on deposits credited on
> the Fisrst/Second/Third of every month, as a matter of abundant precaution
> only I informed to submit Form.15G.in time.
> There is no harm in not submitting and claiming refund while filing your Tax
> Return.
> Thank you for pointing out the lapse.
> M.Perumal
> Chennai
>
>
> ________________________________
vvns varaprasadrao
Mar 31, 2012, 11:16:50 AM3/31/12
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Dear Sri, Perumalji,
Thank you for taking my view in right perspective.
Expecting your guidance always from your desk to our friends.
With regards,
Varaprasad
Thank you for taking my view in right perspective.
Expecting your guidance always from your desk to our friends.
With regards,
Varaprasad
perumal maruthu
Apr 1, 2012, 3:11:45 AM4/1/12
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Dear sir,
Submission of Form 15G/H has nothing to do with Pension Paying/Disbursing Authority. If proof of investment is submitted in time, they recognise it and make eligible deduction from Taxable Income. They issue Form-16 if Tax is deducted. They do not entertain your request if any for inclusion of any other income.
Misconception about pension paid to pre-1/11/2002 retired:
All those who retired after this date are paid their eligible Basic Pension+100% DR. So their Pension in all cases may exceed the Taxable limit of Rs2.5 Lacs.
Whereas those who retired before 1/11/2002, due to the discriminated DR of 60-70%, their monthly Pension has not exceeded Rs20833/, nay, not even exceeded Rs16666/ in 95% of such Pensioners.
Even if you add up the interest on FDR, in many cases, Total Taxable Income may not exceed Rs2.5 Lacs. Most of the Pre-1/11/2002 retired pensioners may not have large amounts in FDRs as they would have squandered it on Commitments like Education/Marriage etc, unlike those who recently retire as MILLIONAIRE Pensioner with Rs10 Lac Gratuity+7to10 Lacs Commutation+ 7to 10 Lacs PF-own contribution +Leave encashment of Rs3 Lacs( if applicable) etc.Therefore, the pre-1/11/2002 retired are required to submit Form15G/H to enable the Banks not to deduct TDS on the small interest paid/payable. It is only an enabling provision and no compulsion.
M.Perumal
Chennai
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lakshmanan shankarnaraynan
Mar 31, 2012, 9:27:58 PM3/31/12
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Dear sir,
When the interest amount exceeds Rs.10000/- and the tax liability is nil, then only one can submit 15G/H.
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