I am less than 60 Years old and I am on 30% tax bracket. I have got few bank fixed deposits. For this year, I have submitted 15G to bank via online and bank has accepted the same. But I just realised that as my tax liablity is not nil so I am not supposed to submit 15G. So, should I contact bank to cancel 15G. Bank deducting TDS makes things complicated for me as FD spans over financial year and they deduct TDS but I have not received the interest (which will be realized during maturity). Is it ok to submit 15G though my tax liablity is not nil.
CAclubindia
