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Form 15G

Aparnaa (Student ) (349 Points)

20 March 2010

To submit Form 15G,

Should the interest income from securities/units ALONE should be maximum amount not chargeable to tax

Aggregate income from all sources, say salary, interest on fixed deposits should be maximum amount not chargeable to tax?

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Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 20 March 2010

The form 15G contains the following clause:

4. that my/our income from dividend/interest on securities/interest other than interest on securities/units/amounts referred to in clause (a) of sub-section (2) of section 80CCA or the aggregate of such incomes, computed in accordance with the provisions of the Income-tax Act, 1961, for the previous year ending on 31/03/2010 relevant to the assessment year 2010-11 will not exceed the maximum amount which is not chargeable to income-tax;

So interest be maximum amount not chargeable to tax