Hi there!
I am a male below 65 years of age.
This is a query for submission of Form 15g to bank
Tax Paid for FY 09-10 Rs.150/-
For FY 10-11:
Estimated Income - from Salary Rs.165000
Estimated Interest Income from Bank Rs.65000/-
80 C Investment Rs.100000/-
Therefore total Income is 130000/-
Can I submit Form 15 G to the bank - to not deduct tds for FY10-11? My accounts officer says you cannot submit, while a friend of mine says you can submit
Form 15G: If you are a resident person (other than a company, Co-operative society or a firm), you can submit Form 15G in duplicate to deductor. As per the provisions of section 197A of the Act, Form 15G can be submitted provided the tax on your estimated total income for the financial year computed in accordance with the provisions of the Act is NIL ) and the interest paid or payable to you does not exceed the maximum amount which is not chargeable to tax.
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