Meaning
Form 15G is a self-declaration to prevent Tax Deducted at Source (TDS) on specific incomes.Definition
It’s for resident individuals under 60 or HUFs. They declare total estimated annual income below the taxable limit, meaning no tax is due on incomes like interest.How It Works
Submit to the payer (e.g., bank) to avoid TDS deduction on interest income, if total income is below the basic exemption limit.Key Considerations
For residents under 60/HUFs. Income below exemption limit. False declarations incur penalties.Author
