05 March 2009
I have opened a new savings account in a nationalised bank. Is it mandatory that I have to fill From 15G? What is the purpose of Form 15G? When is Form 15 G used and the benefits one can derive from it? What is the Banks interest in the Form 15 G?
05 March 2009
Form 15G is given by an individual to a bank for no deduction of TDS on interest paid since the income of account-holder is below the income chargeable to tax.
05 March 2009
Form 15G is a kind of intimation for not deducting TDS it's not mandatory for new opening of A/c unless you earn some income like Interest on deposit etc, Form 15G is issued by a person whose income is below the basic threshold limit by giving this form one can avoid TDS on his income,The Bank Interest behind demanding this form is claiming the expences/payment as deduction for their income computation
05 March 2009
Form 15 G has many columns. While filling the form what are the columns which is to be filled if I don't have any investments other than an FD of 1 Lakh? Is it wise to fill the form 15 G at the time of opening the account to avoid TDS? If not when is it to be filled?
CAclubindia
