Form 15G

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Krishna Murthy (Querist)
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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?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 March 2010 In the format of form 15G it is mentioned that
"for the previous year ending on 31/03/2010 relevant to the assessment year 2010-11"

So it will depend what assessment year you have put