Sec 197A Rule 29C

This query is : Resolved 

12 April 2009 What happens if Form 15G is filed with Chief Commissioner of Income Tax after the due date due to valid reasons ? What is the time limit if the interest is already paid on 31/03/2009 without deducting TDS ?

12 April 2009 payer of the income is required to deliver to CIT one copy of 15G/H on or before 7th day of month, next following the month in which he receives the same
penalty for the same is u/s 272A(2) which is Rs 100 for every day during which default continues...but shall not exceed amount of tax deductible...

13 April 2009 Thanks Devanshi for your reply. YOu seem to be having a fairly good idea about I Tax. Keep it up.




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