Due to outbreak of COVID-19, there is severe disruption in the normal banking working of almost all sectors of economy. Thus, the CBDT has clarified that if a person had submitted Form 15G and 15H for FY 2019-20 to banks and other institutions then these forms will be valid up to 30.06.2020 for FY 2020-21… Read More »
Form 15G/15H to be filed once in a year and not every time when payment is due; CBDT clarifies Notification No 6/2017 Dated 30.05.2017 Download Notification
F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi. Notification No 1/2016 Dated: 09th June, 2016 Subject: Simplification of procedure for Form No. 15G & 15H –Clarifications -reg The existing provisions of section 197A of the Income-tar Act, 1961 (The Act) inter alia provide that… Read More »
F.No 142/32/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Circular No 18/2016– Dated 23rd, May 2016 Sub: Relaxation for Furnishing of UID in case of Form 15G /15H for certain quarters -reg The existing provisions of section 197A of the Income-tax Act, 1961 (‘the Act1 inter… Read More »
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income tax (systems) NOTIFICATION NO.7/2016 [F.NO.DGIT(S)/ADG(S)-2/TDS E-FILING NOTIFICATION/110/2016], DATED 4-5-2016 PROCEDURE FOR SUBMISSION OF DECLARATION BY A PERSON CLAIMING RECEIPT OF CERTAIN INCOMES WITHOUT DEDUCTION OF TAX IN FORM 15G / 15H UNDER SECTION (1) OR UNDER SUB SECTION (1A) OF SECTION… Read More »
Registration process before e-File Statement of Form 15G / 15H To file the “Statement of Form 15G/15H”, user should hold valid TAN and should be registered as “Tax Deductor & Collector”. If not already registered, he should Go to Register yourself- >Tax Deductor & Collector and complete the registration process. Steps for Tax Deductor and Collector… Read More »
Question: When the income of the payee exceeded the maximum amount which is not chargeable to income-tax, can the payer escape the TDS Liability by taking declaration in Form 15G from payee requesting not to deduct tax at source ? Payer can’t escape TDS liability on basis of Form 15G if amount of interest exceeds basic… Read More »