My friend is earning income from fixed deposits, he failed to submit 15G for FY 2015-2016, so bank had cut TDS, so we have claimed for the TDS refund for the amount in 26AS and it was refunded.
This FY also, some deposits got matured, interest is given and TDS is cut but not shown in 26AS. So for the active deposits and if he opens a new one, should we submit 15G so that no TDS will be cut or claim for the total TDS after the FY is over, just like the previous FY.
Is it mandotory to file 15G or voluntary and one can always claim for the refund after the FY is over?
CAclubindia
