TaxTMI 
TaxTMI 
Dear Sir,
We have regular submitted our income tax return and some tax deposited , can we have submitted form 15G to bank for TDS saving on FD interst
please provide your valuable suguation as soon as posssible.
Regards
Arjun Sachdeva
Income Tax under section 195
06 Nov 2012 
1 Reply 
1322 Views Asked by
Form 15G eligibility requires nil final tax and limited interest income; otherwise TDS cannot be avoided on interest.
Eligibility to furnish Form 15G requires that the non-senior citizen's estimated final tax liability for the year be nil and that aggregate interest income not exceed the basic exemption limit; if both conditions are satisfied Form 15G may be furnished to the bank or post office to avoid TDS, but where the taxpayer is liable to pay tax or interest exceeds the exemption slab Form 15G cannot be submitted. (AI Summary)
Eligibility to furnish Form 15G requires that the non-senior citizen's estimated final tax liability for the year be nil and that aggregate interest income not exceed the basic exemption limit; if both conditions are satisfied Form 15G may be furnished to the bank or post office to avoid TDS, but where the taxpayer is liable to pay tax or interest exceeds the exemption slab Form 15G cannot be submitted. (AI Summary)