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(TO BE SUBMITTED IN DUPLICATE) FORM 15 G See Rule 29 C 2) Declaration under Section 197 A 1) of the Income Tax Act, 1961 to be made by an individual claiming receipt of the Dividend without deduction

How to fill out form 15 g

How to fill out form 15G?

1. Start by downloading form 15G from the Income Tax Department's official website or collect a physical copy from the nearest tax office.
2. Carefully read the instructions provided on the form to understand the eligibility criteria and the purpose of filing form 15G.
3. Fill in your personal details such as your name, address, PAN (Permanent Account Number), and contact information in the relevant sections of the form.
4. In the section asking for previous year's assessment details, provide information about the previous year's tax assessment, including the assessment year and the assessing officer's ward/circle.
5. Specify the relevant financial year for which you are submitting form 15G.
6. In the "Details of income for which the declaration is filed" section, provide details of the income on which you are seeking exemption from TDS (Tax Deducted at Source). This includes interest income, dividend income, etc. Ensure all details are accurate and supported by relevant documents.
7. Declare your eligibility for availing the benefits of section 197A(1A) or 197A(1B) of the Income Tax Act by selecting the appropriate option in the declaration section.
8. Sign the form at the designated place, using your full name and date.
9. If the form is being filled by someone other than the individual whose income is being declared, ensure that the representative's details are provided, including their name, capacity (such as parent, guardian, etc.), and PAN.
10. Make photocopies of the filled form for your records and submit the original copy to the relevant institution or organization from whom you are expecting income without TDS deduction.

Who needs form 15G?

1. Individuals who are below 60 years of age and have an estimated total income for the relevant financial year that is lower than the minimum taxable limit.
2. Hindu Undivided Families (HUFs) that fulfill similar conditions as mentioned above.
3. Non-resident individuals and HUFs who are eligible to claim relief under the provisions of double taxation avoidance agreement (DTAA).
4. Individuals who are earning certain types of income, such as interest income from fixed deposits or recurring deposits, that are subject to TDS deduction. By submitting form 15G, they can declare their eligibility for exemption from TDS.
5. It is important to note that form 15G is not applicable for individuals who are above 60 years of age (senior citizens) as they are already eligible for higher exemption limits under a different form called form 15H.

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What is form 15 g?

Form 15G is a declaration form that can be filled out by individuals below the age of 60 years to avoid TDS on interest income.

Who is required to file form 15 g?

Individuals below 60 years of age whose total income is below the taxable threshold and who are eligible to claim exemption from TDS.

How to fill out form 15 g?

Form 15G can be filled out by providing personal details, PAN number, details of income for which TDS exemption is sought, and certifying that the conditions for exemption are met.

What is the purpose of form 15 g?

The purpose of form 15G is to declare that the individual's total income is below the taxable threshold and to claim exemption from TDS on interest income.

What information must be reported on form 15 g?

Form 15G requires personal details, PAN number, details of income, declaration of eligibility for TDS exemption, and signature.