26 March 2010
Sir, As per 197A tax shall not be deducted at source on the payments mentioned therein made to the person who furnishes form 15G that the tax on estimated total income for the previous year is nil.
My question is if a person submits form 15G on 01/04/2010, does tht declaration pertains to A.Y. 2010-11 or A.Y. 2011-12. The section says estimated income, so in my view the declaration pertains to A.Y. 2011-12. Am I right?
CAclubindia
