Form 15G eligibility for individuals

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This discussion clarifies Form 15G eligibility for individuals with a gross total income of ₹5 lakh for AY 2026-27, including ₹51,650 in interest. Despite a nil tax liability after rebate, the aggregate income exceeding the basic exemption limit (₹4 lakh for the new tax regime) means Form 15G cannot be filed. The key is that the total income, not just interest income, is compared against the maximum amount not chargeable to tax.

tarun singh

tarun singh (Querist)

22 July 2025 A individual has gross total income of rs.5 lakh for previous year 2025-26 including interest income of 51650 after rebate tax liability will be nil.

Is he eligible to file form 15G ?
Here GTI more than basic exemption limit 400000

Section 197A(1B) of the Income Tax Act says:

> “The provisions of sub-section (1A) shall not apply where the Amount Of Income or the aggregate of the amounts of income... exceeds the Maximum Amount which is not chargeable to income-tax.”

My interpretation of "Maximum Amount " is gross total income .

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 July 2025 Term "Maximum amount which is not chargeable to Tax" is Rs. 3 lakhs...
Form 15H cannot be filed...

tarun singh

tarun singh (Querist)

22 July 2025 Thanks sir for reply with due respect I will make a small correction limit will be 4 lakhs as per budget 2025 for new tax regime.

I am confused about whether only interest income is compared to basic exemption limit or aggregate of income is compared to basic exemption limit.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 July 2025 1. Yes, for AY 2026-27 it has been increased to 4 lakhs, but the income here is around 5 lakhs so not applicable to file form 15G.
2. Here, aggregate income is considered.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

25 September 2025 Good luck...

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