Download Form 15G PDF file for Tax removal During PF withdrawal

Download Form 15G PDF file for Tax removal During PF withdrawal | How to Fill Form 15G

Are you searching to download Form 15G? This form 15G will help you to withdraw your PF without deducting much from your account. You can Freely download the Form 15G PDF file from the below link, Just download Form 15G and Fill it with the appropriate things.

What is Form 15G?

Forms 15G and 15H are self-declaration documents that people send to banks in order to request that TDS not be withheld from their interest income because their income is below the basic exemption limit. It is required that PAN be provided for this.

An individual or Hindu Undivided Family (HUF) can submit Form 15G, a declaration form, to ask for an exemption from TDS (Tax Deduction at Source) on particular incomes. When a taxpayer's annual income falls below the taxable threshold and they are therefore not required to pay any tax, they often utilize this form.

By completing Form 15G, a person or HUF certifies that their estimated annual income, including the income for which the form is being submitted, is below the taxable limit and that they are consequently exempt from paying any tax. Banks, financial institutions, or any other organization responsible for withholding TDS on specific types of income may receive the form.

It is crucial to remember that the form must be submitted each year and that if it is not, TDS may be deducted and subsequently claimed as a refund when filing an income tax return. Moreover, Form 15G only applies to a limited range of income, including interest from fixed deposits, recurring deposits, and certain bonds.

Eligibility Criteria For Submitting Form 15G

You must have called India your home throughout the relevant Financial Year. Form 15G or Form 15H cannot be submitted by a non-resident. You must be younger than 60 years old. Your entire tax obligation for the relevant Financial Year is zero when your total taxable income is taken into account.

Is Form 15G mandatory?

Do FDs have to submit Form 15G on a regular basis? No, it is not required that you submit Form 15G for FDs. But, if you earn more than Rs. 40,000 in interest in a fiscal year, it will help you avoid paying TDS.

Is Form 15G mandatory for PF withdrawal?

Yes, if you do not want TDS to be subtracted from the withdrawal amount, Form 15G is required. According to Section 192A of the Finance Act 2015, if your work term is shorter than five years and you take more than Rs. 50,000 from your PF, TDS would be applied.

So, while applying for PF withdrawal, uploading Form 15G will help you to withdraw your full amount without cutting TDS from your PF