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 : Punjab and Haryana High Court grants waiver of Section 234A interest in tax case, considering old age and illiteracy of the taxpay...
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 : In the Income-tax Rules, 1962, in Appendix II, in Form No. 15H in Part II, in note 10, the following proviso shall be inserted, na...
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...
This being the first quarter of the financial year, it is important, for all the people who want to receive interest without deduction of tax, to submit form no. 15G and 15G immediately to the banks Recently the in respect of particulars to be furnished and how to furnish these forms have been substantially amended. Let us discuss as to who can submit form no. 15G and 15H and the precautions to be taken while filing these forms.
Some points to be taken care of while submitting Form 15G/Form 15H A. Criteria to be eligible to file form 15G i ) The assesse must be Individual, HUF, AOP ii) The assesse must be Resident iii) The assesse should be less than 60 years iv) Tax calculated on total income should be NiL
Very often, readers keep enquiring about the submission of forms No. 15G/15H to the banks or others payer so that interest could be received without deduction of tax at source (TDS). In this column, I am covering all about Form No. 15G & 15H and hopefully the detailed elaboration hereunder would provide a comprehensive picture about the submission of Form No. 15G & 15H.
Centralized Processing Cell (TDS) has observed from its records that Flag B is not being raised for 15G/ H Forms in quarterly TDS Statements filed.
Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (Deductor) or Form 15G/15H has to be submitted each and every time the payment is due to be received from the deductor.
It is proposed to amend section 197A so as to make them eligible for filing self-declaration in Form.No.15G/15H for non-deduction of tax at source in respect insurance commission referred to in section 194D.
Representations have been received with the request for extension of due date for uploading of Form 15G/15H received during the period 31.12.2015 to 31.03.2016 and also to extend the due date for uploading of Form 15G/15H received during the period from 1.4.2016 onwards.
CBDT has vide Notification No 1/2016 Dated: 09th June, 2016 notified due date for furnishing 15G/15H declarations for the period from 10.10.2015 to 31.03.2016 and for the period starting from 01.04.2016. The due date for quarterly furnishing of 15G/15H declarations received by the payer from 1.4.2016 onwards shall be: Sl. No Date of ending of […]
Explore the clarifications on the simplified procedure for Form 15G & 15H under section 197A of the Income-tax Act. Stay informed with Notification No. 9/2016 issued by the Government of India.
Person who has received declaration in Form No. 60 on or after 1st January, 2016 in relation to transactions specified in Rule 114B shall : 1. Furnish a statement in Form 61 containing particulars of such declaration to the Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data.
