Some amount of interest is showing under 15g on 26as
This query is : Resolved
24 May 2016
SOME AMOUNT OF INTEREST IS SHOWING UNDER 15G ON 26AS BUT I HAVE NOT GIVEN ANY 15G FORM TO BANK
WHAT SHOULD BE DO IN THIS SITUATION?
Read more at: https://www.caclubindia.com/experts/ask_query.asp
WHAT SHOULD BE DO IN THIS SITUATION?
Read more at: https://www.caclubindia.com/experts/ask_query.asp
24 May 2016
pls check with the bank . may possible due to wrong PAN bank intimate to department
27 May 2016
sir matter is that bank have make entry of 3rd querter interest under 15G
but in 4th querter bank deduct tds on interest
i have not given any 15G to bank
i am not having problem at deduct tds
i want know that, will i face problem in filling income tax return or it department will issue any notice ?
because at 26AS 3rd Q interest under 15G
but in 4th querter bank deduct tds on interest
i have not given any 15G to bank
i am not having problem at deduct tds
i want know that, will i face problem in filling income tax return or it department will issue any notice ?
because at 26AS 3rd Q interest under 15G
25 July 2025
Got it! Here’s the deal with your situation:
* **Interest showing under Form 15G on your Form 26AS**, even though you never submitted 15G to the bank, usually means **the bank might have wrongly classified that interest as exempt from TDS** under 15G.
* But since in the 4th quarter, the bank **deducted TDS properly**, this looks like an internal bank entry mistake for the 3rd quarter.
### What can happen?
* When you file your **Income Tax Return (ITR)**, the interest income will be included as normal income.
* Since no TDS was deducted on the 3rd quarter interest (due to the 15G entry) but was deducted on the 4th quarter interest, your **tax calculation may get affected**.
* The Income Tax Department generally matches the interest and TDS data with Form 26AS.
* **If there is a mismatch or discrepancy, the IT department may send a notice asking for clarification.**
### What should you do?
1. **Get clarification from the bank** about why 15G was applied on the 3rd quarter interest without your submission.
2. Ask the bank to **correct the mistake** in their records and communicate with the IT department if possible.
3. While filing your ITR, **declare the full interest income** as per your bank statements and TDS certificates.
4. Keep your **bank statements and communication with the bank handy** to respond to any notice.
---
### Bottom line:
* You should be safe if you declare your income honestly.
* But yes, a notice may come due to mismatch in 26AS and your actual income. Just respond with proof.
If you want, I can help you draft an email to your bank or a reply to IT department in case you get a notice. Would you like?
* **Interest showing under Form 15G on your Form 26AS**, even though you never submitted 15G to the bank, usually means **the bank might have wrongly classified that interest as exempt from TDS** under 15G.
* But since in the 4th quarter, the bank **deducted TDS properly**, this looks like an internal bank entry mistake for the 3rd quarter.
### What can happen?
* When you file your **Income Tax Return (ITR)**, the interest income will be included as normal income.
* Since no TDS was deducted on the 3rd quarter interest (due to the 15G entry) but was deducted on the 4th quarter interest, your **tax calculation may get affected**.
* The Income Tax Department generally matches the interest and TDS data with Form 26AS.
* **If there is a mismatch or discrepancy, the IT department may send a notice asking for clarification.**
### What should you do?
1. **Get clarification from the bank** about why 15G was applied on the 3rd quarter interest without your submission.
2. Ask the bank to **correct the mistake** in their records and communicate with the IT department if possible.
3. While filing your ITR, **declare the full interest income** as per your bank statements and TDS certificates.
4. Keep your **bank statements and communication with the bank handy** to respond to any notice.
---
### Bottom line:
* You should be safe if you declare your income honestly.
* But yes, a notice may come due to mismatch in 26AS and your actual income. Just respond with proof.
If you want, I can help you draft an email to your bank or a reply to IT department in case you get a notice. Would you like?
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