Form 15G Vs 139(1)

This discussion clarifies the difference between Form 15G and Section 139(1) of the Income Tax Act. Form 15G is used to declare that your income is below the taxable limit, preventing TDS deduction on interest income from sources like FDs. Section 139(1) outlines the mandatory requirement to file an Income Tax Return (ITR) based on your total income and TDS deducted, irrespective of whether TDS was withheld.