Online SBI: Want to avail tax benefits on interest income? Do this
SBI customers can still submit the Form 15G/Form 15H online using internet banking/Yono Application to avoid tax deductions if your total interest income. Banks are required to deduct TDS when your interest income for a financial year goes above Rs 40,000. For senior citizens the interest income exemption is upto Rs 50000
Central Board of Direct Taxes has extended the validity of Form 15G/Form 15H till 30 June 2020. Source: PTI