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Form 15g expert advice request

Tax queries 185 views 2 replies

I am 57 and only have income from FDs and Savings Account interest plus dividends which total to less than 250000 per annum. I also have exempt income under section 10 PPF interest which if added to my FD interest income will exceed 250000 per annum. Can I under these circumstances submit form 15G so that TDS is not deducted on my FDs since PPF interest is tax exempt? Or is PPF interest to be taken into account as well.

Thank you for your expert advice.

Neel

Replies (2)

PPF interest is tax-exempt u/s.10(11) of IT act,1961.

It is not calculated under Gross Taxable Income.......

Hence you can submit form 15G, provided your Gross Taxable income is below 2.50 lakhs limit.

You can submit the declaration in Form No.15G and get interest without TDS.


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