Do I need to submit Form 15G every year ?

POSTED BY rockingguy ON April 2, 2014 10:39 pm COMMENTS (2)

Hello,

Suppose my annual income is below taxable limits and I wish to open FD for Rs. 1.5 lakhs for 5 years

Should I submit Form 15 G only first (one) time when opening FD? or

Should I submit Form 15G when opening FD and also at the beginning of every financial year, until the FD is completely matured?

Thanks

2 replies on this article “Do I need to submit Form 15G every year ?”

  1. ashalanshu says:

    Dear Rockingguy, the form 15G is meant for the applied financial year only. hence for the given case, you need to give form 15G for each year of holding in the respective FY.

    Thanks

    Ashal

  2. Hemanth Chandra says:

    If you are going for a 5year FD and you can wait till 5 years, why to go for a normal FD…. opt for a tax saving FD. The lockin period of tax saver FD is 5 years.

    Regards,
    Hemanth.

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