My annual income falls below the taxable bracket and I have deposited Rs. 1, 50,000 in fixed deposit for 5 years with Punjab National Bank. Will I be required to submit form 15G? Do I need to submit it once or every year till my FD gets matured?
Form 15G is required to be filled and submitted for all your fixed deposits with a bank at the beginning of each financial year till the time you have funds in term deposit on your name. You need to submit it every year till your FD gets matured.