A person received FD interest of 45000 and he will submit the form 15G.
Now TDS will be deducted or not?
Because as per the seventh proviso to section 139(1), if tds deducted is 25000 or more, a person is required to file the return.
what's your opinion?
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Form 15G Vs 139(1)
Replies (5)
Quick Summary
When form 15G is accepted by bank, TDS will not be deducted by it.
If the Gross total income is below tax exemption limit then you may submit form 15G/ 15H for not deducting tax on FD Interest
Sec 139(1) and 15G is different . Both are from different perspective.
1. 139(1) requirement of pan and others . assesse needs to file return of tax when??
2. 15G IS DIFFERENT.
DISCLOSURE OF INCOME WHEN REQUIRED.
1. 139(1) requirement of pan and others . assesse needs to file return of tax when??
2. 15G IS DIFFERENT.
DISCLOSURE OF INCOME WHEN REQUIRED.
If Income from all sources is above basic tax exemption limit then you have to file ITR .
Do you have only interest income ?
Do you have only interest income ?
It's implied.
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