Form 15g submission issue

This query is : Resolved

Ravi Mittal (Querist)
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21 March 2016 Hi My estimated gross total income is INR 3,40,000 (breakup income from salary is INR 2,40,000 and interest income is INR 1,00,000) and i deposited in PPF account is INR 95,000. Please advise whether i am eligible for given declaration in Form 15G for claiming receipts without deduction of tax. Thanks

CA Shyam Agarwal

CA Shyam Agarwal (Expert)
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22 March 2016 During the FY 2016-17 your GTI is 340000/- which are above the basic exemption limit before allowing any deduction, hence u should not give the declaration in Form 15G. Although ur tax liability is nil but as per act you are not eligible for give declaration of 15G.