Get the free Form 15G - JAIN PC & ASSOCIATES

FORM NO. 15G See rule 29C (2) Declaration under sub-section (1) and (1A) of section 197A the Income tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming

How to fill out form 15g - jain

How to fill out form 15G - Jain:

1. Start by downloading the form 15G - Jain from the official website of the Income Tax Department.
2. Fill in your personal details such as your name, address, and contact information in the designated fields.
3. Provide your permanent account number (PAN), which is a unique ten-digit alphanumeric identifier issued by the Income Tax Department.
4. Mention your financial year for which the form is applicable. Typically, this should be the current financial year.
5. Declare the estimated total income for which you are seeking exemption from tax, including interest on fixed deposits, recurring deposits, and savings account interest.
6. Specify the estimated total taxable income for the year and the estimated tax liability on that income.
7. Enter the details of the previous year's return filed, if applicable.
8. Indicate if you have submitted form 15G during the previous year and if the Commissioner of Income Tax has rejected it.
9. Declare if you are not of Indian nationality and if you have provided relevant documents to support your claim.
10. Sign and date the form and attach any additional documents required, such as a copy of your PAN card.
11. Submit the completed form to the appropriate authority, such as the bank or financial institution where you hold the deposit.

Who needs form 15G - Jain:

1. Individuals below 60 years of age and HUFs (Hindu Undivided Family) can use form 15G - Jain to declare their income and seek exemption from TDS (Tax Deducted at Source) if their total taxable income is below the threshold limit.
2. Form 15G - Jain is applicable to individuals who have certain types of income like interest on fixed deposits, recurring deposits, and savings account interest.
3. It is necessary for individuals to meet specific criteria mentioned in the form, such as total taxable income being below the threshold limit and the estimated tax liability being nil.
4. This form is particularly relevant for individuals who wish to avoid TDS deductions on their income and have already paid their taxes for the financial year through other means.
5. The form is not applicable for senior citizens (individuals above the age of 60) as they can use form 15H instead, which serves a similar purpose.

By following the steps mentioned above, individuals can successfully fill out form 15G - Jain and declare their income to seek exemption from TDS, if applicable. It is important to ensure accuracy and provide all the necessary information to avoid any discrepancies or complications regarding tax liabilities.

For pdfFiller’s FAQs

What is form 15g - jain?

Form 15G is a form used to declare that one's income is below the taxable limit and hence, no TDS should be deducted on it.

Who is required to file form 15g - jain?

Individuals below the age of 60 whose income is below the taxable limit are required to file Form 15G.

How to fill out form 15g - jain?

Form 15G can be filled out by providing personal details, income details, and declaration of the income being below taxable limit.

What is the purpose of form 15g - jain?

The purpose of Form 15G is to ensure that TDS is not deducted on income that is below the taxable limit.

What information must be reported on form 15g - jain?

Information such as personal details, income details, and declaration of income being below taxable limit must be reported on Form 15G.

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