Get the free Form No. 15G - Hsbc - hsbc co

Form No. 15G See Section 197A(1), 197A(1A) and Rule 29C Declaration under Section 197A(1) and Section 197A(1A) of the Income Tax Act, 1961 to be made by an individual or a person (not being a company

How to fill out form no 15g

How to fill out form no 15g:

1. Start by gathering all the necessary information and documents before filling out the form. This includes your PAN (Permanent Account Number), personal details such as name, address, and contact information, as well as details of your income and tax status.
2. In the form, provide the relevant information in the designated fields. This may include details such as your financial year, previous assessment year, and estimated income for the current year. Also, ensure that you accurately fill in your PAN number.
3. Indicate the reason for submitting form no 15g, which is to declare that you meet the necessary criteria for exemption from tax deduction at source (TDS). You should qualify for this exemption if your total income is below the taxable limit, and TDS should not be deducted by the payer.
4. Provide information about your investments and savings, including details about your bank accounts, fixed deposits, mutual funds, and any other sources of income. Ensure that you provide accurate and up-to-date information in this section.
5. After completing the necessary details, sign and date the form. It is crucial to ensure that the information provided is true and correct to the best of your knowledge before submitting the form.

Who needs form no 15g:

1. Individuals or Hindu Undivided Families (HUFs) whose total income is below the taxable limit may need to fill out form no 15g. This form is used to declare that their income is not liable for TDS (tax deduction at source).
2. Form no 15g is particularly useful for individuals who have income from different sources, such as interest on fixed deposits, savings accounts, or other investments. By submitting this form, they can prevent TDS deductions from being made by the payer.
3. It is essential to note that form no 15g is not applicable to individuals whose total income exceeds the maximum exemption limit or if they are not eligible for specific exemptions.
4. Additionally, it is crucial to be aware of the specific criteria and guidelines provided by the Income Tax Department regarding eligibility and submission of form no 15g. It is recommended to consult a tax professional or refer to the official guidelines to ensure proper compliance.

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What is form no 15g?

Form 15G is a self-declaration form that can be submitted by individuals to ensure that no TDS (Tax Deducted at Source) is deducted on their income if their total income is below the taxable limit.

Who is required to file form no 15g?

Individuals, specifically residents below 60 years of age, whose total income is below the taxable limit and do not have to pay any tax can file Form 15G to avoid TDS deduction.

How to fill out form no 15g?

Form 15G can be filled out by providing personal and income details such as name, PAN, assessment year, estimated total income, and tax liability for the financial year. It must be signed and submitted to the deductor.

What is the purpose of form no 15g?

The purpose of Form 15G is to declare that the individual's income is below the taxable limit and thus no TDS should be deducted on it. It helps in avoiding unnecessary TDS deduction.

What information must be reported on form no 15g?

Form 15G requires personal details such as name, PAN, address, and income details like estimated total income, tax liability, and past TDS details if any.