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15G form sumbit and salary not received

Others 234 views 4 replies
Sir
I
have sumbited 15 G form in bank where mention estimated income 245000 but now my owner said he has not able to pay salary April may and June due to lackdown business problem. so in case can I face any problem from bank or it department
Replies (4)
Nobody can trouble you on this.
You need not worry about 15G.


salary for april may is in a different assessment year.

 

The amount mentioned in 15G is estimated amount and in your case you have mentioned more amount as per your actual income in form 15G and it is also not creating any impact over TDS deduction from bank. So there is no issue from the Income Tax point of view.

15G has been inserted for such individuals who does not file income tax.
It has been observed that banks deduct tds on the basis of SUCH DECLARATION.
15G HAS BEEN INSERTED WITH A VIEW TO MITIGATE THE COMPLICATIONS WHO HAS INCOME FROM MANY SOURCES WHICH CANNOT BE DEFINED ALWAYS.


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