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form 15G

Kahera (unemployed) (41 Points)

01 April 2017

if a person is not aware of his income from bank FD interest ,filled form 15 G in 2016-2017.It is now found that his income from bank FD interest cross the exempted limit.if he/she want to file ITR now what should He/ SHE do. As form 15G was filed and there is no TDS ,so how to show taxable income.

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13 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 01 April 2017

Compute the income for the year. Pay Self Assessment Tax. Thereafter file the return.

(Guest)

TAKE FD STATEMENT FROM BANK FOR THAT YEAR

YOU WILL COME TO KNOW ABOUT TAXABLE INCOME

ADD IF ANY INCOME IF U HAVE IT

PAY SELF ASSESSMENT TAX AND FILED RETURN

Kahera (unemployed) (41 Points)
Replied 01 April 2017

what about the form 15G that was filed during that period

(Guest)

15 G FILED FOR NOT TO DEDUCT TDS

BUT YOUR INCOME ALREADY CROSS BASIC EXEMPTION LIMIT

WHICH BANK NOT AWAIRE OTHER WISE YOUR TDS HAS BEEN

DEDUCTED BY BANK ALSO

Kahera (unemployed) (41 Points)
Replied 01 April 2017

is it attract any penalty or action from IT department side

(Guest)

FOR THAT YOU ARE PAYING SELF ASSESSMENT TAX

DONT WORRY PAY TAX AS PER APPLICABLE

AND TAKE CARE NEXT ONWORDS ABOUT

15G

Studentsca (CA Practice ) (3577 Points)
Replied 01 April 2017

Submitting Form 15G falsely attracts penalty. Therefore avoid submitting Form 15G from next year onwards.

Kahera (unemployed) (41 Points)
Replied 01 April 2017

is interest on saving bank account is also to be include in it and what about the charges that bank deducdes for eg SMS charges and ATM charges.As the assessee is going to file return for the first time so there is many confusions.