IT Café Online

I have submitted Form 15G/15H for two separate FDs in SBI and ICICI at the start of current financial year, which I want to withdraw now, as my income has increased recently. But both banks have informed me that Form 15G/15H cannot be withdrawn once submitted. Shall I start paying more tax out of my salary income? Alternatively, suggest other remedial steps.

The banks are absolutely right in refusing to allow you to withdraw the Form 15G or 15H (but not both simultaneously). You should include the interest income while paying advance tax for the year. Your income tax returns would also include this income along with your other income.