Tax query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 Since 1/4/2011 till today X deposit only Rs. 2,04,000 in her Saving a/c. She makes an FD for which she will get interest @ 9% p.a.

When will Form 15G will be submitted by her before the end of March 2012 or in the month of April 2012.

She already crossed her basic exemption limit. (doubt basic exemption limit Rs. 190000 or 180000) How can she pay minimum tax?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

22 December 2011 TDS is deducted on a monthly basis. An assessee who wants to submit Form 15G should submit the same in the beginning of the year.

If the form is submitted in the middle of the year or at the end, TDS will not be deducted for the succeeding months only. TDS for the previous months has already been deducted.

Further, the form has to be submitted for each Assessment Year.

So, if the assessee submits the form in March, 2012 only TDS for the month of March will not be deducted.

Further, the exemption limit for women assessee for AY 12-13 is Rs. 1,90,000/-

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAGHUNATH KASIBHOTLA

raval umesh

Rameshkumar Jain

DSK TMC

Hemkumar

Subscribe Now

Tax query

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA