How to fill form 15G | What is Form 15G | Who fill Form 15G | form 15g download | what is 15G form | what is form 15g for pf withdrawal | form 15g download for pf withdrawal
Under Section 194A of the Income Tax Act, if your interest amount for a financial year exceeds Rs 40,000, then TDS is deducted by banks on that amount. If your income does not come under the net of income tax deduction, then the bank will not deduct TDS on your interest, but for this you will have to give a form named 15G, which we will discuss in today’s blog.
If your income does not fall under income tax slab and you have not heard Form 15G and you want to withdraw your FD and EPF amount, then please refer to the below article, in this article we will provide you information about Form 15G .In this article, we will provide you information about Form 15G using which you can avoid deducting the amount of TDS while withdrawing your PF, FD or other money.
What is Form 15G ?
Form 15G is a declaration form covered under sub-sections 1 and 1(a) of section 197A of the Income Tax Act, 1961.
It is a declaration form which people fill and submit in the bank or other government office like Corporate Bonds,EPFO,LIC,Post Office etc. Those who do not come under the purview of income tax, with the help of this form, declare that they do not come under the rate of income tax and that their TDS should not be deducted on the money withdrawn by them.
Who Fill Form 15G? What are the criteria?
- Your income does not fall in the income tax slab.
- Resident Individual, Family, any person below the age of 60 years.
- INDIAN CITIZENS .
- Total interest income during the financial year is less than 2.5 lakhs
How to get form 15G download
You can visit the official website of Incometaxindia or Click Here to form 15g download
How to fill Form 15G ?
After downloading, you have to fill Form 15G, in this section we will discuss each section one by one and know how to fill Form 15G
Form 15G Part 1
- Name of Assesses (Declarant) : Enter your name as per PAN card
- PAN of the Assesses : Enter PAN CARD Number
- Status : Now state your status whether HUF or Individual.
- Previous Year( Four Which Declaration Being Made ) : Enter the current financial year for which you are filling the form
- Residential Status : this form can only be filled by residents. Check your residential status
- Flat/ Door/ Block No. : enter your Flat No
- Name of Premises : Premises Name
- Road / Street / Lane : Road Stree Name
- Area / Locality : Area Name
- Town / City District : Town Name
- State : State Name
- Pin: type Your PIN Code
- Email : Type Your Email id
- Telephone no (with STD code and Mobile No.): Type Your Mobile Number
- (a) Whether assessed to tax under the income tax act, 1961? – If your income was above the taxable limit in any of the past 6 years, answer this question with ‘yes”.
- (b)If yes, the latest assessment year for which assessed – mention the latest year in which your income was above the taxable limit. : Type Yes
- Estimated income for which declaration is made – Enter the amount of interest or other income on which you do not want to deduct TDS.
- Estimated total income of the previous year in which income mentioned in column 16 to be included – Your total income from all sources in the financial year
- Details of Form 15G other than this form filed during the previous year, if any;- If you fill 15G for the first time then write No if you have filled earlier then write Yes and you need to provide 15G previous details
- Details of income for which the declaration is filed : type 0
- Identification Number of relevant investment/account etc: Provide FD NUMBER/EPF NUMBER/BONDS NUMBER ETC
- Nature of Income : PF withdraw
- Section under which tax is deductible : 192A
- Amount of Income : According to you
Signature OF Declarant :…………………………………..
You can also download the sample 15G filled form PDF for your reference. sample filled form 15g download for pf withdrawal Please note that this is a sample form for knowledge purpose so I have removed some important details in this form which you need to enter in your form as per your details.
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