Get the free FORM NO. 15G - HDFC Securities Ltd

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. Download the Form: Visit the Income Tax Department's official website and download Form No 15G. You can also obtain a physical copy from the nearest Income Tax Office.
2. Provide Personal Details: Fill in your personal information such as name, address, contact details, and Permanent Account Number (PAN).
3. Mention Previous Year's Assessment: Specify the relevant assessment year for which you are submitting the form.
4. Declare Eligibility: Confirm that you are an individual or Hindu Undivided Family (HUF) and that your total income for the year is below the taxable limit.
5. Assessing Officer Details: Enter the details of the Income Tax Officer who holds jurisdiction over your case.
6. Mention Previous Year's Income: Declare your estimated total income from different sources for the previous year.
7. Mention Previous Year's Tax Liability: Specify the total tax amount deducted at source, if any, during the previous year.
8. Provide Bank Account Details: Enter the details of the bank account in which you want the interest income to be credited.
9. Sign and Submit: Once you have filled in all the required information, sign the form and submit it to the appropriate authority.

Who needs Form No 15G:

1. Individuals Below the Taxable Limit: Form No 15G is primarily required by individuals or Hindu Undivided Families (HUFs) whose total annual income falls below the taxable limit set by the income tax department.
2. Avoiding Tax Deduction at Source (TDS): If you are eligible and submit Form 15G to a financial institution, it allows you to prevent them from deducting tax at source from your interest income.
3. NRI Individuals: Non-Resident Indian (NRI) individuals can also use Form 15G to avoid tax deduction on their Indian income if it falls below the taxable limit.
4. Senior Citizens: Senior citizens who fulfill the eligibility criteria can also submit Form No 15G to avoid TDS on their interest income.

Disclaimer: It is crucial to consult with a tax professional or chartered accountant to ensure the correctness and relevance of information specific to your circumstances.

For pdfFiller’s FAQs

What is form no 15g?

Form 15g is a form provided by the Income Tax Department of India for individuals to declare that their income is below the taxable limit and hence exempt from tax deduction at source (TDS).

Who is required to file form no 15g?

Individuals whose total income is below the taxable limit and want to avoid TDS deductions on their income are required to file Form 15g.

How to fill out form no 15g?

Form 15g can be filled out by providing details such as name, PAN, residential status, previous assessment year, estimated total income for the current year, and declaration that the income is below the taxable limit.

What is the purpose of form no 15g?

The purpose of Form 15g is to declare that the income of an individual is below the taxable limit and hence not subject to TDS deductions.

What information must be reported on form no 15g?

Form 15g requires information such as name, PAN, residential status, estimated total income, previous assessment year, and declaration of income being below the taxable limit.

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