Grandfathering Pr.1-3 Cr By Age 50

Form 15G in Fillable Format

Form 15 G - Declaration under sub-sections (1) and (1A) of section 197A of the Income-Tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax

For age below 60 year - If your interest income on bank / post office deposits exceeds Rs 10000 a year, the bank will deduct 10% tax at source. If you do not furnish PAN details, the TDS rate will be higher at 20%. However, you can submit a Form 15G to avoid TDS on interest income.

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