Comments on: Download, know, FAQ on Form 15G & 15H

By: yash

yash — Thu, 24 May 2012 06:59:36 +0000

on filling form 15g , TDS is not taking place n tax exemption is there for fixed deposit s , but when we file income tax return , that time the income tax will be applicable on same , please clarify

By: gn tiwari

gn tiwari — Fri, 11 May 2012 16:51:59 +0000

can 15 g submiited by association and society

By: Jayanthi Venkatesh

Jayanthi Venkatesh — Sat, 05 May 2012 14:25:28 +0000

I will turn 60 in Jan 2013.I have submitted Form 15G in April 2012 for the previous year 2012-2013, Assessment year 2013 -2014.
I recd a call form a bank that I need to resubmit 15H as 15G is not applicable to me since i become 60 during the year.
Please confirm.Will I have to resubmit 15H wherever i submitted 15G in april 2012

By: rinku

rinku — Wed, 02 May 2012 23:56:17 +0000

Hi,

I have an NRO account with ICICI and they are deduction 30% TDS thought my taxable income in india is less than 1.6lakh. Do I need to file form 15H with ICICI or with Tax officer in india.
Please suggest.

By: MSVenkataraman

MSVenkataraman — Fri, 27 Apr 2012 10:35:27 +0000

I AM KNOWINGLY GIVING 15 H THOUGH MY INCOME IS ABOVE TAXABLE LIMIT. I SAY THIS IN 15H. MY TAX PAYMENTS ARE UP TO DATE. I JUST WANT TO AVOID THE HAS
LE OF TDS AND WAITING FOR THE REFUND FOR YEARS AS TDS DEDUCTION WILL BE MUCH MORE THAN MY TAX LIABILITY SINCE IT DOES NOT RECKON EXEMPTION LIMIT AND 80C DEPOSITS. ANY COMMENT?

By: Kiran

Kiran — Thu, 19 Apr 2012 12:03:58 +0000

Is it compulsory to have a PAN if you need to file 15H with the banks? Recently they have said that they will need to deduct tax even thoough 15H has been filed with them if I do not give them the PAN. Is it right?

By: rugram

rugram — Wed, 18 Apr 2012 13:39:41 +0000

Mohammad Khan – 11th April, 2012 – The reply given for Surojit Dey is also applicable to you.

By: rugram

rugram — Wed, 18 Apr 2012 13:37:11 +0000

Surojit Dey – 12th April, 2012: If you want to submit form 15 G in respect of your income for the financial year 1.4.2012 t0 31.3.2013, then you have to write the ‘AY’ as 2013-14 and the ‘previous year ending on’ as 31.3.2013 which is relevant to the AY 2013-14.

By: rugram

rugram — Wed, 18 Apr 2012 13:30:19 +0000

Mr. Sawan Jasoliya- 27th March 2012: The bank cannot ask for form 15H before allowing withdrawal from a savings bank a/c. The purpose of form 15 H is different. It is possible that there is some other requirement other than form 15H which your friend has to fulfil before he is allowed to withdraw the balance from his savings bank account. Please check.

By: rugram

rugram — Wed, 18 Apr 2012 13:26:32 +0000

Mr. Milind Sawant -8th March 2012: Part II of forms 15 G and 15 H are not to be filled in by you. This part has to be filled in by the Bank to whom you would be submitting the form. Please choose the correct form for submission. You have to submit the applicable form in duplicate to the Bank and not directly to the ITO. The Bank would send one to the ITO mentioned by you on the form and retain one for their record. Hence please take a Xerox copy and get the Bank’s acknowledgement thereon.

By: Ken Nandy

Ken Nandy — Tue, 17 Apr 2012 04:26:23 +0000

I have Fixed deposit of about 25 lacs in one branch. I do not have any other income. Can I submit 15G and then look at my tax liabilities at the end of year?

Thanks in advance

By: Praneet Bajpaie

Praneet Bajpaie — Fri, 13 Apr 2012 14:53:38 +0000

Hi Benny,
Form 15G in your case as 15H is required for people who are 65 years and over

By: surojit dey

surojit dey — Thu, 12 Apr 2012 08:16:58 +0000

please confirm me what is the previous year and relevent assessment year if i put in my 15 g form in april this year

By: Mohammad Khan

Mohammad Khan — Wed, 11 Apr 2012 16:02:40 +0000

i will be filling and submitting form 15G for the first time in this month which is April 2012, i can fill up most of the fields/columns in the form but i am confused what dates/years to write in blank fields.
for the previous year ending on_____________ relevant to the assessment year _________to________ will be nil
that my/our income from dividend etc.etc…………………… for the previous year ending on_____________ relevant to the assessment year 20________to 20_______ will not exceed the maximum amount which is not chargeable to income tax.
i need your help in filling the form and will be appreciated.

By: Benny lemos

Benny lemos — Tue, 10 Apr 2012 10:42:20 +0000

I am 62 years old. Should I fil up 15 G or 15H form to avoid TDS

By: Jain BL

Jain BL — Mon, 09 Apr 2012 06:28:17 +0000

Pl. also provide answer below the asked Q to benifit others.

By: Jain BL

Jain BL — Mon, 09 Apr 2012 06:21:34 +0000

FDR : Rs. 3 Lakh, sum deposited: 5th July 2011, Period is 5/07/2011 to 4/07/2012 i.e. overlaping two financial years
My Q is how to fill the G15, would it require two G15, one for 05/07/2011 to 31/03/2012 (to be submitted in bank in July 2011) and second for 01/04/2012 to 04/07/2012 (to be submitted in bank in April 2012) . Would the sum deposited date in both the cases be 05/07/2011 ?

Pl help.

By: prakash

prakash — Sun, 08 Apr 2012 11:56:30 +0000

I have 2 FDR of SBI
This FDR made on 1998 with rate of interest 11.5% due date 1) 14-10-2014, 2) 14-10-2016
But the bank has reduced the rate of interest instead of the original rate of interest 11.5% without given information to me, few years ago.
What should I do?
Pl. suggest me

By: sunil

sunil — Sun, 08 Apr 2012 05:16:04 +0000

my father is retired from corporation job and they are 60 yrs and they get approximate approximate 18 lakh as retirement benifit. i want to know if they deposit in the bank then interest is approxmite 180000 per year. bur according to rbi tds deduct on more then the interest rs 10000 of interest. and as per income tax income tax exempted upto 2 lac/2.5 lac then please tell me that how much tds deduct by bank or tds can exempted if we deposit required form by bank 15g or 15h

By: Nagaraj N Nyamati

Nagaraj N Nyamati — Wed, 04 Apr 2012 10:03:00 +0000

I am pensioner,getting Rs.23000/- per month and also getting interest from FDs which are in Canara Bank. Interest is around 50,000/-. Bank has already deducted tax as per IT guidelines. Bank also issue TDS certificate as I have not submitted 15 H/15G as my income is exceed the limit fixed by IT dept. Eg. Rs.50000/- interest I am receiving from bank and bank have already deducted TDS as per procedure(IT Dept) deducted Rs.10000/- as TDS.
Rs.40000/- interest is getting after deducting TDS. My doubt whether I have to include Rs.40000/- as income for this fin.year 2011.12 along with pen amountRs.276000/-. although bank has deducted TDS for the amount kept in Bank.

Please clarify Sir.

By: Nagaraj N Nyamati

Nagaraj N Nyamati — Wed, 04 Apr 2012 09:55:33 +0000

It is very informative to the citizen of India regarding awareness of Income Tax rules.This web site help who has any doubts could be clarified.Pl accept my apprections and thanks including me.

By: Anil

Anil — Wed, 04 Apr 2012 07:29:07 +0000

My father has done FD of 450000 year ago in March 2011 with Central Bank for one year. His age is more than 62 years. Central bank has deducted TDS on maturity of FD. My father had not filled 15G or 15 H. Can we get that TDS back ? My father do not have any type of other income he is farmer. Can we get TDS back by filling 15 g or 15 h after maturity of that FD.

By: mendiratta

mendiratta — Tue, 03 Apr 2012 12:17:17 +0000

Are there any exemptions to submission of Form 15 H by senior citizens in 2012 budget ?

By: viddya

viddya — Wed, 28 Mar 2012 06:17:35 +0000

i m grampanchayat servent. how can pay grampanchayat tax amt by online. pls tell me the website address.

By: Sawan Jasoliya

Sawan Jasoliya — Tue, 27 Mar 2012 06:39:25 +0000

My friend’s age is 57. He had 70K in his savings account in an SBI Branch. He withdrawn 19K by cheque. He is now not able to withdraw any amount through Cheque / ATM. Bank is asking to submit 15G and other documents. Should he go ahead?

By: Animesh Das

Animesh Das — Fri, 23 Mar 2012 02:12:12 +0000

I’m 36yrs old. My annual income is Rs.2.45lakh. This year I’ve earned extra Rs.20k interest from SECURED NON-CONVERTABLE REDEEMABLE DEBENTURES. The debentures company ask me to submit Form no.15G. Is it right to submit this said form while I’m a tax assesse? Or after submitting this form I’ll seek tax rebate U/S 80C? Kindly advice me.

By: mmlgupta

mmlgupta — Tue, 20 Mar 2012 03:46:02 +0000

i am having fdr ac sb ac ppf ac ,investment in mf and shares for the last 10yrs in india now i have become nre in jan 2012 by virtue of my deputation of overseas office of the company. my total income in india is less than 180000 can i submit form 15 g and continue to maintain these accounts as resident accounts

By: KULDEEP

KULDEEP — Mon, 12 Mar 2012 09:35:35 +0000

Sir, I opened fixed deposits in a bank, in sept 2011.For F.Y 2011-2012 my interest income is below 10000/- Now my question is , when I fill the 15 g form and what period [ Assement Year]

By: sandeep

sandeep — Sun, 11 Mar 2012 16:15:54 +0000

my dad (65 yrs) has invested in FD with the money which he got after retirement , he does not have any regular income and i support him by giving monthly money. which form 15G or 15 H can he use to save TDS as the income from interest is not more than 1.5 Lac

Plz suggest

By: Milind Sawant

Milind Sawant — Thu, 08 Mar 2012 12:26:51 +0000

i am a bank officer i want to submit the form 15G and 15H to ITO i have a question that what is to be filled up in the PART II of the form against
[FOR USE BY THE PERSON TO WHOM THE DECLARATION IS FURNISHED]

1 Name and address of the person
responsible for paying the income,
mentioned in paragraph 1 of the
declaration :

i.e Customers name and address or Bank’s name and address?

By: SAJAL MUKHERJEE

SAJAL MUKHERJEE — Sat, 03 Mar 2012 10:23:17 +0000

Sir, my father’s age is 67. I have done 2 FD of Rs.25000/- with SBI which will matured mid of this year. Should my father has to fill form 15G ? if yes, then when?

By: Shri_biyani

Shri_biyani — Thu, 23 Feb 2012 15:01:00 +0000

what about society

By: utpal kenwar

utpal kenwar — Sat, 18 Feb 2012 16:10:28 +0000

Sir, I am 61 year old retired person. I opened three (3) nos fixed deposits in a public sector bank, for a total sum of 12.5 lakhs in a devided manner (2nos , one each for 5 lakhs , and one of 2.5 lakhs). I have been advised by the bank to fill the form 15g , which will be my first time experience. As I have gathered in these forum , that I have to fill the above form (15g) independently for each of the fixed deposites. Now my question is , when I fill the 15 g form for say, against one particular fixed deposit certificate, then where, and how do I mention the reference of the other two (2) fixed deposits in that particular 15 g form. I shall be very much obliged to get this information.

By: Satvinder Pal Singh Lamba

Satvinder Pal Singh Lamba — Sat, 18 Feb 2012 09:00:33 +0000

Sir, I have retired from Military service on 31 Jan 2012.Till Jan my income was taxable and tax was deducted at source.Now I am in receipt of pension and does not fall in that category, Now I have made FD in SBI and interest of FD is exceeding 10000/-p.a.Am I eligible to submit form 15-G to avoid TDS..Kindly suggest..

By: goutam sarkar

goutam sarkar — Fri, 17 Feb 2012 05:52:26 +0000

Sir.
My wife is a housewife.She wish to invest in SBI as a MIS but the interest is exceeding 10000pa.Can she get tax exemption by filling up form 15G?Kindly advice.

By: Ashok

Ashok — Mon, 30 Jan 2012 11:24:26 +0000

How to open the form 16 files in TIN Nsdl

By: Ashok

Ashok — Mon, 30 Jan 2012 11:23:53 +0000

how to opne the form 16files in TIN-nsdl

By: SANJAY KUMAR JAIN

SANJAY KUMAR JAIN — Sun, 29 Jan 2012 08:54:11 +0000

MY INTEREST INCOME FROM BANK FD IS Rs.60,000/- AND OHTER SOURCE OF INCOME IS Rs.90,000/-. BANK IS DEDUCTING TDS ON Rs.60,000/- EVEN I HAVE DEPOSITED FORM 15G SAYING THAT MY INTEREST INCOME FROM BANK FD IS MORE THAN Rs.50,000/-. SO 15G IS NOT APPLICABLE.

IS IT SO, PLEASE CLARIFY WITH NOTIFICATION.

By: A. Roy

A. Roy — Thu, 26 Jan 2012 05:33:03 +0000

26th January, 2012.

I am a Non-Resident Indian working abroad. I have NRE (Non-Resident External) Account in a Nationalised Bank in India. Recently RBI / Govt of India increased NRE – FD interset rates, at par with domestic FD and is declared non-taxable, to attract inflow of foreign funds into the country. In view of this, recently I made an NRE-FD with State Bank of Hyderabad with 9.5% interest. The bank is asking me to submit Form 15 G. I understand that form 15G is only for residents, for TDS exemption. I do not understand the need for submitting form 15 G, when NRE-FD interest has been already declared non-taxable and whether form 15 G is applicable to Non-residents. I request you to send me a clarification with necessary document support from Income Tax department, which I can show to the bank. Thank you.

By: Navdeep Singh

Navdeep Singh — Wed, 25 Jan 2012 07:54:50 +0000

Sir I have work job my Annual Salary is 120000 But I save Some Money Monthly in RD Rs-500 .The RD Company was deducted Tds on Interest But My Annual salary not 180000 per year Plz Send This Answer

By: santhosh

santhosh — Tue, 24 Jan 2012 18:00:51 +0000

hi my gross salary 192900 per anna, can plz that should i underfiling Income Tax return & Form 16.

By: ASHOK SAGGAR

ASHOK SAGGAR — Thu, 12 Jan 2012 15:45:23 +0000

In case a depositor is having 5 deposits with a particular bank branch then how many 15H forms he is required to submit. One 15H can serve the purpose or 5 15H has to be deposited with the branch. Please clarify.

By: Ajit

Ajit — Sat, 07 Jan 2012 16:14:25 +0000

Hi,

I was not aware about TDS on interest of fixed deposites. Now after maturity of FD’s i got the interest after deducting TDS. Is it possible to recover this TDS if i submit form 15G after maturity of fixed deposite??? Pls revert

By: S.B.satpathy

S.B.satpathy — Sat, 24 Dec 2011 13:18:25 +0000

If the lone source of earning is interest from Fixed Deposits & a person earns 50000 form interests. wll he be taxable

By: Ramesh Suri

Ramesh Suri — Sat, 17 Dec 2011 00:38:56 +0000

I would like to reply to Mr Suryakant Surve’s query. As per ICICI Bank tax expert, the IT Comissionor has informed them that since the age has not been changed in the section 197A for the AY 2012-13 the form 15H can be submitted only by people of age >65 years.
Tax Guru spcifies it as applicable for people for age >60 years.
Tax guru has to take a call or help get the amendment done by the Government.

By: GR RAMYA

GR RAMYA — Tue, 13 Dec 2011 10:20:04 +0000

if we give 15g and pan number .we paid any tax?

By: RAKESH

RAKESH — Tue, 13 Dec 2011 03:59:16 +0000

How much amount to be invested u/s 80C to save income tax of Rs. 5000/- for Individual.

By: suryakant surve

suryakant surve — Wed, 07 Dec 2011 10:45:24 +0000

Dear all

Please clarify on the issue of form No. 15 H. as you mentioned in the above the age limit been reduced to 60 years from 65 years of person who can issue Form No. 15 H, how ever the form you have attached in this site still showing age of 65 years? and also please note that in the Income Tax and Rule the age limit is mentioned as 65 years?

Regards

Suryakant surve
9820835278

By: Saptarshi Duari

Saptarshi Duari — Thu, 24 Nov 2011 11:27:42 +0000

I am a Govt. PSU employee and I have invested Rs. 40000/- in the 5 yr Tax saving Fixed deposit in a nationalised bank. My question is that, whether it is necessary to submit Form 15 G every year? My salary account is in the same bank, where I have invested.