Income Tax : Learn about the rules for non-deduction of tax using Form 15G and Form 15H. Explore who can file these declarations, submission pr...
Income Tax : Learn about submitting Form No 15G/15H under Section 194A of the Income Tax Act, 1961. Discover eligibility, conditions, and disti...
Income Tax : Form 15G and Form 15H are forms you can submit to prevent TDS deduction on your income, if you meet the conditions mentioned below...
Income Tax : Article explains/Contains What is Dividend, Concept of Record Date, Payment of Unpaid Dividend, Claim of Unpaid Dividend, Transf...
Income Tax : As we all aware that tax payers seeking non-deduction of tax from certain incomes are required to file a self-declaration in Form ...
Income Tax : The ITAT Nagpur overturned an income tax disallowance in Ghalani's case due to late filing of Form 15G/H, citing valid legal groun...
Income Tax : In a case between Salem Urban Co-op Bank Ltd. and the Income Tax Officer, Madras High Court allows appeal, permitting waiver of 10...
Income Tax : Analysis of ITAT Ahmedabad's decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS no...
Income Tax : ITAT Chennai held that non-deduction of TDS and reversal of TDS deduction on interest payment on the basis of declaration in Form ...
Income Tax : Sh. Nandkishore Bhikamchand Rathi Vs ITO (ITAT Nagpur) The assessment order passed by disallowing an amount of Rs.5,18,596/- on th...
Income Tax : Further, on payments to Non-residents (including foreign companies) having Permanent Establishment in India, where the above appli...
Income Tax : To mitigate the hardships of small taxpayers, it has been decided that if a person had submitted valid Forms 15G and 15H to the Ba...
Income Tax : Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in...
Income Tax : Representations have been received with the request for extension of due date for uploading of Form 15G/15H received during the pe...
Income Tax : Explore the clarifications on the simplified procedure for Form 15G & 15H under section 197A of the Income-tax Act. Stay informed ...
As per sub-rule (1) of rule 29C (Declaration by person claiming receipt of certain incomes without deduction of tax) of the Income-tax Rules, 1962 (hereunder referred as the Rules) a declaration under sub-section (1) or under sub-section (1A) of section 197A shall be in Form No. 15G and declaration under sub-section (1C) of section 197A shall be in Form No. 15H.
Notification No. 4/2015 – Income Tax Section 197A of the Income tax Act provides for no deduction in certain case by submitting a declaration using Form 15G/15H as laid down in Rule 29C of the Income tax Rules. The manner of filing such declaration and the particulars have been laid down in Rule 29C of the Income tax Rules. The person responsible for paying any income of the nature referred to in sub section (1) or sub section (1A) or sub section (1C) of section 197A (hereinafter called “payer”) shall enable the payee to furnish the declaration in electronic form after due verification through an electronic process.
Simplification of Tax Deduction at Source (TDS) mechanism for Employees Provident Fund Scheme (EPFS) Under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF & MP Act, 1952), certain specified employers are required to comply with the Employees Provident Fund Scheme, 1952 (EPFS). However, these employers are also permitted to establish and manage their […]
1) Introduction of Electronic mode of filing Form 15G & 15H (Alternate to Paper Form). No procedural rules has been prescribed as regard to filing of Form 15G. However, It seems Form 15G & 15H can be filed using Internet Banking facility or Similar facility for in case of Other institution which are making payment as provided in Section 197(1) or 197(1A) or 197(1C).
Notification No. 76/2015 – Income Tax S.O. 2663 (E). – In exercise of the powers conferred by section 295 read with section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Budget 2015-16 – Enabling of filing self-declaration in Form No.15G/15H for non-deduction of tax at source onpayment made under life insurance policy The Finance (No.2) Act, 2014, inserted section 194DA in the Act with effect from 1.10.2014 to provide for deduction of tax at source at the rate of 2% from payments made under life insurance […]
CPC-TDS Communication to Banks Regarding Non reporting of 15G/H transaction in contravention of rule 31A (4) of Income Tax Rules read with section 200 of Income Tax Act. 1) In this regard, it is to inform you that ________ branches out of ________ active branches of your bank have not reported transaction of payment of interest on which tax was not deducted in view of declaration of 15G or 15H form by the payee. We are also sending a separate communication to the non-compliant branches, attached in the list.
Notification No. 11/2013 – Income Tax (1) These rules may be called the Income-tax (2nd Amendment) Rules, 2013. (2) They shall come into force on the date of their publication in the Official Gazette.
Circular Ref. No. DGBA.CDD.H-10566/15.15.001/2008-09 Dated 5-6-2009 As you are aware, investors under Senior Citizens Savings Scheme, 2004 (SCSS) are eligible to file Form 15-G and 15-H to claim exemption from TDS on the interest payable on the deposits under the said scheme. 2. Central Board of Direct Taxes have now clarified, vide their Office Memorandum F.No.275/36/2009-IT(B) […]
