Get the free Form-15G

INCOME RULES, 1962 1FORMNO. 15G [See section 197A(1), 197A(1A) and rule 29C] Declaration under section 197A(1) and section 197A(1A) to be made by an individual or a person (not being a company or

How to fill out form-15g

How to fill out form-15g

1. To fill out Form-15G, follow these steps:
2. Start by filling out your personal details such as your name, address, and PAN (Permanent Account Number).
3. Next, provide your financial details such as your occupation, estimated total income for the year, and the previous year's total income.
4. Declare whether you are an individual, HUF (Hindu Undivided Family), or a trust.
5. Provide details about the previous year in which the tax was last assessed, including the assessment year and the assessing officer's ward or circle.
6. Declare that your total income (including exempt income) is below the taxable limit and mention the relevant section under which you are eligible to submit Form-15G.
7. Finally, sign and date the form.

Who needs form-15g?

1. Form-15G is required by individuals and HUFs who meet the following criteria:
2. - The person is an individual or HUF (Hindu Undivided Family).
3. - The person's total income for the financial year is below the taxable limit.
4. - The person's interest income from various investments (such as fixed deposits, recurring deposits, etc.) exceeds the specified threshold limit.
5. - The person wants to avoid the deduction of tax at source (TDS) on such interest income.
6. By submitting Form-15G, the person declares that they are eligible for non-deduction of TDS on their interest income and hence, prevents unnecessary TDS deduction.

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What is form-15g?

Form 15G is a self-declaration form that individuals can submit to financial institutions to ensure that no TDS (Tax Deducted at Source) is deducted from their interest income, provided their total taxable income is below the taxable limit.

Who is required to file form-15g?

Individuals whose total income is below the taxable limit and wish to avoid TDS on their interest income are required to file Form 15G.

How to fill out form-15g?

To fill out Form 15G, individuals need to provide details such as their name, PAN (Permanent Account Number), address, bank details, and the financial year for which the form is being submitted, along with a declaration of their income.

What is the purpose of form-15g?

The purpose of Form 15G is to ensure that individuals with taxable income below the threshold do not have TDS deducted from their interest income by self-declaring their income.

What information must be reported on form-15g?

Form 15G requires reporting the individual's name, PAN, address, the amount of interest income expected, the financial year, and a declaration of total income.