CAN YOU PLEASE GUID ME REGARDING PROCEDURE TO BE FOLLEWED AFTER RECEIVING FORM NO. 15H/15G FROM THE PAYEE FOR NON DEDUCTION OF TDS( IN THE CASE OF BANK RECEVING 15H/15G FROM DEPOSITE HOLDER). DOES BANK REQUIRED TO SUBMITT THE FORM WITH I.T. OFFICE WITHIN 7 DAYS OF NEXT MONTH..?
22 May 2010
There is no need to submit the Form 15H/15G with the IT Department. It is the record to be kept by the bank for non-deduction of TDS. In case of scrutiny by the IT dept, it will be required at that point of time.
CAclubindia
