15 g in case of company

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Neha Agarwal (Querist)
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25 September 2011 Can a company obtain 15G in case it wants to receive its income without tax deduction at source...

Please do answer my query soon.....

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 September 2011 Declaration in Form 15G is furnished under Section 197A.

Section 197A provides the facility of non-deduction of TDS only to an individual.

Therefore, a company cannot submit Form 15G.

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Neha Agarwal

Neha Agarwal (Querist)
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27 September 2011 It means proprietor in case of proprietorship firm, partners in case of partnership firm and individual directors in case of a company.....Am i right in saying that???

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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28 September 2011 An individual who his earning the income can submit Form 15G.

A partner can submit Form 15G for HIS income and not for the income earned by his firm

Similarly, a director can submit Form 15G for HIS income and not the income earned by the Company in which he is director.

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Neha Agarwal

Neha Agarwal (Querist)
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29 September 2011 Thank u so much for this detailed clarification.....

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