Form 15G and Form 15H are used for avoiding the TDS deductions at source if deductee expects his Income to be lower than the taxable limit. In this article we are discussing important points to remember while submitting the Form 15G and Form 15H to the deductor.
This is the Declaration under sub-sections (1) and (1A) of section 197A of the Income-tax Act, 1961, to be made by a resident individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax.
This is a Declaration under sub-section (1C) of section 197A of the Income-tax Act, 1961, to be made by a resident individual (NOT AVAILABLE FOR HUF) who is the age of sixty years or more claiming certain receipts without deduction of tax.
Estimated tax for the previous assessment year should be nil…
Form 15G can be submitted as age is less than 60 years. Total tax is nil and interest income is less than minimum exempt income.
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