Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
Show me another
when I need to submit form 15g
In Fixed Deposits  -  Asked by Amit Kumar Narnoly -  4 years ago

Best Answer:
Form 15G is for everyone whose income is below the taxable limit. But you cannot submit the Form 15G if you are already the tax payer. Here are some points when to submit form 15G.

# Estimated tax for the previous assessment year should be nil. That means he did not pay any tax for the previous year because his income is not coming under the taxable limit.
# Submit this form before the first payment of your interest. It is not mandatory but it will avoid the TDS deduction. In case of the delay, the bank may deduct the TDS and issue TDS certificate at the end of year. You have to file the IT returns and claim the refund from the Income Tax. To avoid these proces, good idea to submit the forms at the beginning of the assessment year.
# If the total income from the interest is above Rs.10000 in case of deposited in the banks or Rs.5000 in case of deposited in the companies like Tata Motors, Mahindra Finance,etc. Note that for the banks the total interest is calculated in each branch separately. If you have deposit in the many different branches, it will not be accumulated for the tax purpose. But, you will have to submit the details in the IT returns.
# TDS will be deducted at the rate of 10% p.a. up to 10 lacs.
# A fresh Form 15H needs to be furnished for each deposit that is placed with the Bank. For example you have many fixed deposit accounts in the same branch, you will have to submit for the each deposit.
# A consolidated TDS Certificate in Form 16A, for TDS deducted during a financial year will be issued in the month of April of the following financial year.
# Deposits held by minors are also subject to TDS. The persone who is guardian of the minor's income he can claim for the credit for the TDS.
4 years ago - By Nancy

Other Answers (2)
show:
Answer 1.
It will depend on your income.
4 years ago - By Vicky
Answer 2.
You must check with the bank and if your income is not in the taxable range just submit TDS and check it with bank in some cases there is no need to submit TDS also.
4 years ago - By Sarita
Answer: Open Questions RSS
ChAnDiGaRh escort service O9855660911 CaℒL Giℛℒ PaNcHkUlA ~Call gIℛℒ In MoHaLi Call giℛℒS sEℛvice
साई बाबा जी ⋐+91 9166736058⋑ love marriage specialist in Australia +91 9166736058
BriTisH )= Escort ( 09999o6s679 ) Service In Munirka =Escort service in Five Star Hotels
ஜ Hyderabad EScoℛTs SeRvICe~O768O955835~Call giℛls iNSeRvICe~O768O955835~Call giℛls Hyderabab Escort
Escort Call 09971969968 Best HiFi Smart Girls Service in Five Star Hotels in Chanakyapuri.
View All
Discover: Resolved Questions RSS
chandigarh@ INDIA NO,3 MOHALI CALL GIRLS-09855660911 ESCORT SERVICE zirakpur , GIRL ,PANCHKULA
LOCAL@ INDIA NO,1 MOHALI CALL GIRLS-09855660911 ESCORT SERVICES CHANDIGARH , GIRL , PANCHKULA BADDI
MOHALI INDIAS NO,1 ZIRAKPUR CALL GIRLS-09855660911 ESCORT SERVICE CHANDIGARH , GIRL , PANCHKULA
Ludhiana Escort Services - 09872495586
Karan Escorts: Call Girls in Amritsar, Call Us +918196881150
View All
Vote: Undecided Questions RSS
Model Escorts in Chandigarh 09779777540 , Russian Escorts in Chandigarh
MoHaLi escort service O9779777540CaℒL Giℛℒ AmBaLa Call gIℛℒ In Zirakpur Call giℛℒS sEℛvice.
MoHaLi escort service O9779777540CaℒL Giℛℒ PaNcHkUlA Call gIℛℒ In Zirakpur Call giℛℒS sEℛvice.
ChAnDiGaRh escort service O9779777540CaℒL Giℛℒ PaNcHkUlA Call gIℛℒ In Zirakpur Call giℛℒS sEℛvice.
Vip Call Girls Escorts Services Chandigarh 09779777540, Female Call Girls Chandigarh
View All
COMPARE RATES
Get best FD rates
Best FD rates by banks
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
Fixed Deposit Interest Income Calculator
Credit Card Balance Transfer Savings Calculator
Car Loan Amount by EMI Calculator
Car Loan Amount by Down Payment Calculator
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
Last date to exchange pre 2005 notes 1st January 2015 Dec 22, 2014
New cash Transactions facilities to be launched by NCR corporation Dec 18, 2014
‘Bank aap ki Muththi mein’ branch banking on mobile by HDFC bank Dec 17, 2014
Banks to provide longer hours to carry out RTGS transactions Dec 16, 2014
Andhra Bank to expand its network in Orissa Dec 15, 2014
News Archive
EDITORS' PICKS
Medical Insurance: Save tax along with health
Fixed deposits in India: Benefits,...
Carnival of Indian Personal Finance Blogs #4
Regular fixed deposits in India: Great way...
ICICI Bank’s recurring deposit scheme