Regarding Form 15G

Dear Ramakrishna,

First of all we have to see that NRI is liable to deduct TDS or not

Liability to deduct TDS, on individuals (including NRI's) will depend upon their Turnover in the Previous FY (40 Lacs in case of Business &10 Lacs in case of Profession)

Now, if NRI is carrying on the business/profession & his turnover in the previous FY exceeded the limit specified above, then he will deduct TDS.. Further payment should also be made during the couse of business/profession i:e not in his individual/perrsonal capacity...

I think if AO is satisfied then he can issue certificate of No/Lower deduction to the resident receiving the interest...