Do I need to submit Form 15G for fixed deposit in Private Bank ?

POSTED BY animeshred ON October 1, 2013 9:43 pm ONE COMMENT

I have a fixed deposit of amount 15000 INR in a private bank,whose term duration is 355 days.The interest gained will be around 1600 INR. Do I need to submit Form 15G for the same.

I am at loss in understanding the need and implication of Form 15G. Please help

One reply on this article “Do I need to submit Form 15G for fixed deposit in Private Bank ?”

  1. ashalanshu says:

    Dear Animesh, as the interest amount is less than 10000 rs. you need not to file form 15G.

    thanks

    Ashal

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