Can I submit Form 15G if Gross Income more than Taxable Limit?

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  1. Mayuri Das

    Mayuri Das New Member

    I am a non senior citizen. My Gross income before 8O C is 3,60,000. After deduction it becomes 2,10,000. My interest income is 20,000. Am I eligible to submit form 15G? Please suggest. Thank You.
  2. Karan Batra

    Karan Batra Well-Known Member

    No, you cannot submit Form 15G in this case as you are a non-senior citizen and your Gross Income is more than the minimum amount exempted from the levy of tax.
    Nitin khanna ji likes this.


    Conditions you must fulfill to submit Form 15G:

    1. You are an individual or HUF
    2. You must be a Resident Indian
    3. You should be less than 60 years old
    4. Tax calculated on your Total Income is nil
    5. The total interest income for the year is less than the minimum exemption limit of that year, which is Rs 2,50,000 for financial year 2015-16. (Limit is Rs 2.5lakhs for FY 2014-15, FY 2015-16 and FY 2016-17)
    As you are not fulfilling condition number 5, so you cant apply for form 15 G
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