CBDT simplifies procedure for Filing Form 15G & Form 15H

15 G & 15 H. Hello Freinds CBDT simplifies the format and procedure for Form No. 15 G and Form No.

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15 G or Form No. In order to decrease the expense of compliance and relieve the compliance problem for both, the tax payer and the tax deductor, the Central Board of Direct taxes has actually streamlined the format and treatment for self statement of Form No. The procedure for submission of the Kinds by the deductor has actually also been simplified.

Under the streamlined treatment, a payee can send the self-declaration either in paper form or digitally. The deductor will not deduct tax and will allocate a Special Identification Number (UIN) to all self-declarations in accordance with a well put down procedure to be defined separately. The details of self declarations will have to be provided by the deductor in addition to UIN in the quarterly TDS declarations. The requirement of sending physical copy of Form 15 G and 15 H by the deductor to the income-tax authorities has been ignored. The deductor will, nevertheless be required to keep Kind No.15 G and 15 H for 7 years

The revised treatment shall work from the first day of October, 2015.

The Notification provided vide S.O. No.2663( E) outdated 29 th September 2015 is available on the website of the Department at www.incometaxindia.gov.in

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