Dear Sir / Madam,
My understanding is that, Form 15G can be submitted (age below 60) when your FD income in less than 2.5Lakh and your total income is below taxable limit.
Say right now I am unemployed and totally dependent upon FD interest. Right now my projected (considering all FDs continue as is) income is more than 2.5 but my estimate is going to be less than 2.5, because I have plans to withdraw a few FDs and buy a small property later sometime.
Am I violating any IT laws if I submit 15G in that case, now in April-16?
Thanks.
CAclubindia
