Sir
I
have sumbited 15 G form in bank where mention estimated income 245000 but now my owner said he has not able to pay salary April may and June due to lackdown business problem. so in case can I face any problem from bank or it department
4 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36365 Points)
Replied 26 May 2020
Nobody can trouble you on this.
sabyasachi mukherjee
(27574 Points)
Replied 26 May 2020
You need not worry about 15G.
salary for april may is in a different assessment year.
salary for april may is in a different assessment year.
CA Arun Kumar Tiwari
(CA in Practise)
(445 Points)
Replied 28 May 2020
The amount mentioned in 15G is estimated amount and in your case you have mentioned more amount as per your actual income in form 15G and it is also not creating any impact over TDS deduction from bank. So there is no issue from the Income Tax point of view.
sabyasachi mukherjee
(27574 Points)
Replied 08 June 2020
15G has been inserted for such individuals who does not file income tax.
It has been observed that banks deduct tds on the basis of SUCH DECLARATION.
15G HAS BEEN INSERTED WITH A VIEW TO MITIGATE THE COMPLICATIONS WHO HAS INCOME FROM MANY SOURCES WHICH CANNOT BE DEFINED ALWAYS.
It has been observed that banks deduct tds on the basis of SUCH DECLARATION.
15G HAS BEEN INSERTED WITH A VIEW TO MITIGATE THE COMPLICATIONS WHO HAS INCOME FROM MANY SOURCES WHICH CANNOT BE DEFINED ALWAYS.
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