1. my father(senior citizen) passed away in jan 2011 and had some fd's in the bank which are having maturity in 2015.
2. I am the sole nominee of the FD as well as , as per the will (unregistered) of my father i am the heir of the amount.
Kindly advice whether I can apply form 15 G for FD's of my father as legal heir for getting no TDS benefit.
Regards
Yes, you can apply for form 15 G provided you have a PAN
| Originally posted by : Monica | ||
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Yes, you can apply for form 15 G provided you have a PAN |
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under which section of IT ACT , it is permitted??????
after dealth of your father, nominee is eligible to claim the FDs and transfer the same to the name of nominee, by premature withdrawl and re deposit in self name, so this would not need 15G.
| Originally posted by : piknoo | ||
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Originally posted by : Monica Yes, you can apply for form 15 G provided you have a PAN under which section of IT ACT , it is permitted?????? |
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After getting the FD's transferred in your name, you can apply in form 15 G as per SECTION 197A of The Income Tax act,1961 for non deduction of tax at source. Please note that your income chargeable to tax should be below tax limit for claiming non deduction using form 15G
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