Sbi form 15g rule for FD TDS

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Honeyyyyy1
Hello everyone,
I want to discuss the rules of the TDS deduction for SBI.
Do we have to submit FORM 15G
Option 1: every time a new FD is open or renewed
OR
Option 2: only one time in every financial year
What do you guys do out of these options to avoid TDS deduction?
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Topsey wrote:

Option 2

I also did the same but TDS is still deducted.I know we can take refund of it while filing IT. But still I went to ask it to manager.According to manager, in Sbi , we need to submit form 15g again and again on new and existing FD renewals .I don't know if this rule is there in sbi. Sbi is not a private bank that it can make its own rules and deduct TDS as per their needs.I wonder if there is any RBI guideline about it or this manager said a lie 🤥

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Every year before the financial year closure till the FD terms ends.

Generous Generous
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Honeyyyyy1 wrote:

I also did the same but TDS is still deducted.I know we can take refund of it while filing IT. But still I went to ask it to manager.According to manager, in Sbi , we need to submit form 15g again and again on new and existing FD renewals .I don't know if this rule is there in sbi. Sbi is not a private bank that it can make its own rules and deduct TDS as per their needs.I wonder if there is any RBI guideline about it or this manager said a lie 🤥

Not relevant to query just general question - Is your TDS deducted only because interest is above 40k or it's lower but still deducted

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avgn wrote:

Not relevant to query just general question - Is your TDS deducted only because interest is above 40k or it's lower but still deducted

interest is slightly above 40k..but form 15h submitted for financial year ,still it got deducted

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