About 15G

Form 15G is a declaration form that an individual can submit to request exemption from Tax Deducted at Source (TDS) on their income. However, it's important to note that Form 15G is not related to the repayment of unsecured loans.

 If a person is repaying an unsecured loan, they should provide the lender with a repayment schedule and proof of repayment. The lender may require a Form 15G if the interest paid on the loan exceeds the threshold limit for TDS (currently ₹5,000 in a financial year).

In this case, the borrower can submit Form 15G to the lender to request exemption from TDS on the interest paid.

 However, if the borrower's liability to repay the loan increases, they should:

 1. Review their repayment schedule and adjust it if necessary.

2. Provide the lender with updated financial information or proof of income. 

3. If required, submit a new Form 15G or other necessary documents to the . 

They can provide personalized guidance on submitting Form 15G or other necessary forms.