Benefit of form 15g

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A Private Limited Company has received Form 15G from a party to whom the company was paying interest on unsecured loan for non deduction of tax as the total income of the party including the interest income do not exceed maximum amount not chargeable to tax. So, now in this case what action should a company take i.e. whether to deduct TDS or do not deduct TDS.
Replies (7)

no need to deducted tds 

but in tds return it is mention that 15G received and

hence not deduct tds

is it necessary to send that 15g to Incoem tax department physically?
And please tell me one more thing how to generate my form 15g..because i have seen in many cases that there are form 15g generated by Income tax department unlike earlier when we used to fill up those forms manually
Dear Mr.Arun Gupta
It is not necessary to send Form 15G physically now u can upload it online
Sir plz tell me the procedure
https://blog.cleartax.in/e-file-form-15g-form-15h-e-filing-portal/
please go through the link u can find it


CCI Pro

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