Get the free FORM NO. 15G - Gokhale & Co.

FORM NO. 15G See rule 29C Declaration under sub-sections (1) and (1A) of section 197A of 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 no 15g

How to fill out form no 15g:

1. Begin by obtaining form no 15g from the income tax department's website or your nearest income tax office. The form may also be available at designated banking institutions.
2. Fill in your personal details such as your name, address, PAN (Permanent Account Number), and contact information in the appropriate sections of the form.
3. Provide your previous year's assessment year for which the declaration is being made.
4. Enter your estimated total income for the financial year for which the form is submitted. This includes income from all sources such as interest, dividends, and rental income. Ensure that you accurately calculate and report your income.
5. Declare any deductions or exemptions that you are eligible for under various income tax provisions. This may include deductions under section 80C for investments in specified instruments or exemptions for income from agriculture or long-term capital gains, among others.
6. If you have received any income on which tax has already been deducted at source (TDS), report the details in the relevant fields. This includes the name of the deductor, their TAN (Tax Deduction and Collection Account Number), and the amount of TDS deducted.
7. Mention the specific nature and source of income for which you are submitting form no 15g. This could be interest income from bank deposits, fixed deposits, or recurring deposits, among others.
8. Carefully read the declaration section of the form and ensure that the information provided is complete and correct to the best of your knowledge and belief. Sign and date the form in the designated areas.
9. Submit the filled-out form at the appropriate institution, such as the income tax department or the bank, depending on the requirements.

Who needs form no 15g?

Form no 15g is primarily used by individuals or Hindu Undivided Families (HUFs) who meet specific criteria to claim exemption from Tax Deducted at Source (TDS) on their income. This form is applicable to residents of India who are below 60 years of age and whose total income for the relevant financial year is below the taxable threshold.

The purpose of form no 15g is to declare that the individual's total income is below the taxable limit and therefore, TDS should not be deducted by the deductor at the time of making payments. It is commonly used by individuals receiving interest income from fixed deposits, recurring deposits, or bank savings accounts to avoid TDS deductions.

However, it is important to note that not everyone is eligible to submit form no 15g. Various conditions and criteria, such as being a resident individual and having a PAN, must be met. It is advisable to carefully review the eligibility criteria and consult with a tax professional if needed before submitting form no 15g.

For pdfFiller’s FAQs

How do I modify my form no 15g in Gmail?

In your inbox, you may use pdfFiller's add-on for Gmail to generate, modify, fill out, and eSign your form no 15g and any other papers you receive, all without leaving the program. Install pdfFiller for Gmail from the Google Workspace Marketplace by visiting this link. Take away the need for time-consuming procedures and handle your papers and eSignatures with ease.

How can I modify form no 15g without leaving Google Drive?

By combining pdfFiller with Google Docs, you can generate fillable forms directly in Google Drive. No need to leave Google Drive to make edits or sign documents, including form no 15g. Use pdfFiller's features in Google Drive to handle documents on any internet-connected device.

How do I edit form no 15g straight from my smartphone?

The easiest way to edit documents on a mobile device is using pdfFiller’s mobile-native apps for iOS and Android. You can download those from the Apple Store and Google Play, respectively. You can learn more about the apps here. Install and log in to the application to start editing form no 15g.