I am 67 years old having total income of 6.5 lakh from bank interest and sale of shares .
Can I submit 15 H to the bank.
Can I file ITR 1.
Thanks
Mithilesh Kumar
Ans: Senior citizen can submit form 15H if tax calculated on income is NIL. Further, a resident individual with taxable income up to Rs 7,00,000 will receive a rebate from tax upto Rs 25,000.
Thus, in your case if tax on bank interest and sale of shares is less than 25000, you can submit form 15H.