15 g in case of tds on interest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2013 Mr. A give UNSECURED LOAN to Mr. B and A earns interest on it. At the END OF YEAR on 31st march B credited Interest to A's account of Rs. 100,000. Now, A want to issue 15G certificate to B, Can A do so? and Can A issue 15G at the end of year?

Thanks in advance.

Ganeshbabu K

Ganeshbabu K (Expert)
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25 May 2013 15G OR H CAN BE ISSUED ONLY IF TAX ON ESTIMATED INCOME OF RECEPIENT OF INTEREST IS NIL,

AND 15G HAS TO BE SUBMITTED BEFORE RECEIPT OF INTEREST AND A COPY ALSO TO BE SUBMITTED TO AO

so tds is to be deducted

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