Form 15h & 15g

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 Dear Sir,

I want to know that Form 15G& 15H applicability...i mean in which tds nature of payment we can use these forms....

we are paying rent 27500 per month it is under the purview of tds.

my question is can i take form 15g from landlord..because he does not want to deduction of tds...is it applicable for 194 I..

Thanks

Vimal

CA Jitender Sharma

CA Jitender Sharma (Expert)
Follow

02 May 2014 form 15G:-
Declaration under section 197A(1) and section 197A(1A) of the Income-tax Act,

In order to be eligible to furnish Form 15G, the non-senior citizen investor needs to fulfill the following two conditions:

1. The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil; and
2. The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab which is Rs 200000.

As in your case conditions are not fulfilled so Form 15G is not applicable.

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 thanks sir,

sir further i want to know that..in which nature of tds payment form 15g & 15h applicable.

Upgrade to CAclubindia Pro. Subscribe Now!

Rupesh Jain

Rupesh Jain (Expert)
Follow

02 May 2014 TDS deductioin u/s 193, 194, 194A, 194EE, 194K .

can give 15G /H
if you income below income not chargeable to tax

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2014 ok sir,

it means 15g/h would not be acceptable for payment of rent. it only applicable if payment relating to section 193, 194, 194a, 194ee, 194k.

is it right sir?