Get the free FORM NO 15G Receipts without deduction of Tax

FORM NO. 15G See rule 29C of the Income tax Rules, 1962 Declaration under subsections (1) and (1A) of section 197A of the Income tax Act, 1961, to be made by an individual or a person (not being a

How to fill out form no 15g receipts

How to fill out Form No 15G receipts:

1. Start by obtaining the Form No 15G from the bank or download it from the bank's website.
2. Fill in your personal details accurately, such as your name, date of birth, and contact information.
3. Provide your Permanent Account Number (PAN) that is issued by the Income Tax Department.
4. Mention your residential status, whether you are a resident individual, Hindu Undivided Family (HUF), etc.
5. Specify the previous year for which the form is being filled.
6. Declare your estimated total income for the particular financial year and the estimated total income of the previous year.
7. Mention the nature of your income, such as interest on fixed deposits, savings bank account, etc., for which you are seeking exemption under Section 197A(1A) of the Income Tax Act.
8. Enter the total estimated tax calculated on such income for the financial year.
9. Specify whether you have filed an income tax return in the previous three years and if your returns were assessed for any of those years.
10. Sign and date the form to validate it.

Who needs Form No 15G receipts:

1. Individuals who are resident individuals or HUFs and have earned interest income on fixed deposits or savings accounts can use Form No 15G to seek exemption from Tax Deducted at Source (TDS).
2. It is applicable for those individuals whose total estimated income, including the interest earned, is below the basic exemption limit.
3. Form No 15G is usually submitted to banks or financial institutions to prevent the deduction of TDS on interest income.
4. By utilizing this form, individuals can avoid TDS deductions even if their income is below the taxable limit.

Remember, it is crucial to accurately fill out the Form No 15G to avoid any complications regarding TDS deductions and income tax obligations.

For pdfFiller’s FAQs

What is form no 15g receipts?

Form 15G receipts is a self-declaration form that can be submitted by individuals to avoid the deduction of tax at source on their income.

Who is required to file form no 15g receipts?

Individuals below a certain age and income threshold are required to file form no 15G receipts.

How to fill out form no 15g receipts?

To fill out form no 15G receipts, one must provide personal information, income details, and declaration that the total income is below the taxable limit.

What is the purpose of form no 15g receipts?

The purpose of form no 15G receipts is to declare that the individual's income is below the taxable limit and therefore TDS should not be deducted.

What information must be reported on form no 15g receipts?

Information about personal details, income sources, and declaration of income being below the taxable limit must be reported on form no 15G receipts.

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