I am an individual (below 60 yrs) having salary income and interest income.and i paid tax regularly through salary. can i submit 15G to thebank. Please let me know.
15G can be submitted by persons claiming exemption from TDS for the reason, they do not have any taxable income. In your case, since you are already paying tax, your total taxable income is considered to be above the taxable limit and in such cases, one is not expected to file 15G. A duplicate of the 15G, which contains your PAN NO. will be mailed to the ITO concerned. This may lead to complication at a later date.
Thanks. This was wonderful experience.
I could help my Grandpa to save on tax as today only he got to know through SMS that bank has deducted tax at his native and he is Mumbai.
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