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FORM NO. 15G See section 197A(1C), 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 Person (not being a company

How to fill out form no 15g

How to fill out form no 15G:

1. First, you need to obtain Form 15G from the income tax department or download it from their official website.
2. Start by providing your personal details such as your name, address, and PAN (Permanent Account Number) in the specified fields.
3. Next, mention your financial year for which the form is being filled out.
4. Declare your estimated total income for the relevant financial year and the projected income for the current year.
5. Provide details of any other income you have earned during the financial year, such as interest on fixed deposits, recurring deposits, or savings accounts.
6. If you have submitted Form 15G in the past, mention the total number of such forms submitted.
7. Mention the last assessment year for which you filed an income tax return, and if any tax refund was received in that year.
8. Declare whether or not you are eligible to claim relief under section 197A(1A) by selecting the appropriate option.
9. Lastly, sign and date the form.

Remember to carefully read and understand the instructions mentioned on the form before filling it out.

Who needs form no 15G:

1. Individuals who are below the age of 60 and are Indian residents.
2. Individuals who have a total estimated income for the relevant financial year that falls below the taxable limit.
3. Individuals who are not obligated to pay any taxes on their income and want to avoid tax deduction at source (TDS) on certain incomes such as interest earned on fixed deposits, recurring deposits, or savings accounts.
4. It should be noted that only those individuals who meet the criteria mentioned in the income tax laws, specifically section 197A(1C), should fill out Form 15G.
5. It is important to consult with a tax professional or refer to the income tax department's guidelines to ensure eligibility and proper utilization of Form 15G.

For pdfFiller’s FAQs

What is form no 15g?

Form 15G is a declaration form that can be submitted by individuals to request the bank not to deduct TDS on their interest income if their total income is below the taxable limit.

Who is required to file form no 15g?

Individuals whose total income is below the taxable limit and do not want TDS to be deducted on their interest income are required to file form no 15G.

How to fill out form no 15g?

Form no 15G can be filled out by providing personal details, details of income for which the declaration is being made, and signing the form before submitting it to the bank.

What is the purpose of form no 15g?

The purpose of form no 15G is to declare that the individual's total income is below the taxable limit and request the bank not to deduct TDS on their interest income.

What information must be reported on form no 15g?

Form no 15G requires information such as personal details, PAN, income details for which the declaration is being made, and declaration that total income is below the taxable limit.

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