About form 15 g / h

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2017 SIR,
If an individual has interest income of Rs. 1,05,000 from bank F.D.s (- all from the same bank) ,
but his total income is not going above the exemption limit, then can he submit form 15G/H ?

And if no, then.....
what if he submits the form 15 G/H , filling all true details and amount of 1,05,000 in it ?

Is it ok or not ? As per rules and acts ?

Expert : Anonymous

Expert : Anonymous (Expert)

06 April 2017 Form 15H or 15G should be given to bank only if the individual income doesn't exceed taxable limit.