Step 2:- After logging in, select the online fixed deposits tab which will redirect you to the page which depicts your fixed deposit details. Step 1:- Login to the respective bank’s internet banking. You may complete the process of filing form 15G in the manner as specified below:
Investment details for which declaration is being filed. Details of previous declaration of Form 15G (if any), along with the aggregate income. 
Total estimated income for the particular financial year. Estimated income for which declaration is being made. Latest assessment year for which the returns are assessed. Previous year, for which nil deductions are claimed for. The person making the claim should ensure that Form 15G is furnished with a valid PAN, non-adherence to which will result in deduction of tax The person making the claim must specify the following particulars: The concerned person can make a claim against TDS if his/her total income falls below the basic exemption limit.įorm 15G can either be submitted physically or after prior verification, through electronic means in accordance with the procedures, formats and stipulated standards. To avail exemption from TDS on rental income if the total rental consideration in a given year exceeds Rs 1.8 lakhs. The assessee can claim for the same if the income from the proceeds is limited to a sum of Rs 1 lakh. 
To avail exemption from TDS on income from maturity proceeds arising out of life insurance policy. To avail exemption from TDS on income from corporate banks and debentures, provided that the income generated from the same exceeds Rs 5,000. To avail the benefit of post office deposits and national savings schemes. For premature withdrawal (before five years) of funds from EPF, subject to the condition that the balance in the particular fund is above Rs 50,000. Banks deduct TDS, if the interest on the fixed deposit exceed a sum of Rs 10,000 in a given financial year. The total interest income of the person with respect to the particular financial year is below the basic exemption limit.įorm 15G is used to fulfill the following objectives:. The person raising the claim is devoid of any tax liability. The person raising the claim must be an Indian resident. It can be submitted by a person who isn’t a company or a firm, and whose age is below 60 years. 
The eligibility criteria pertaining to the form is listed below:
Know more about Income Tax Form 15H Eligibility for Filing Form 15Gįorm 15G is a self-declaration form which is used for the purpose of making a claim against TDS on specified income. This article is a brief account on Form 15G. The taxpayer can avail this provision if his/her total income is below the specified taxable limit. Learn » Income Tax » Form 15G Form 15G – Income Taxįorm 15G is a declaration requesting for an exemption from deduction of TDS on the interest amount.
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