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15g and tds
I would like to ask that if an individual does not have any income and few Fixed Deposits are there on his name so to avoid the TDS he is furnishing 15G with the bank, but by mistake he forgot to do so for the current year 2013-14 and TDS is now deducted on that interest for two quarters. Now if the person will furnish 15G will that be effective? And if now no TDS is deducted then at the time of filing the return what amt of interest shall be shown?
Replies (2)
FORM 15G WILL BE EFFECTIVE FROM THE DAY YOU SUBMIT IT IN THE BANK.
AND YOU WILL HAVE TO SHOW TOTAL AMOUNT OF INTEREST EARNED DURING THE YEAR 13-14, AND IF THE SAME IS BELOW EXEMPTION LIMIT YOU CAN CLAIM REFUND FOR THE TDS FROM THE DEPARTMENT
agree with Hardik
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