SUBMISSION OF FORM 15G & FORM 15H

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2010 Hi all,

Thanks for reply. Now I would like to know that if it is compulsory to submit the Form 15G & Form 15H to Income Tax then what will be penalty for failure or non submission of forms within the prescribed time submission? & can we submit the forms after the time limit or is there any other provision for the same in Income Tax? And one more thing, where to submit the said forms? I mean at the same Income Tax Office where we file the Income Tax Returns?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 August 2010 Generally submitted with the ward TDS officer in Mumbai.

If late deposited then the form may be treated as invalid.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 August 2010 Form 15G/15H has to be submitted to the Chief commissioner/ Commissioner to whom the assessing officer having jurisdiction to assess the person receiving the said forms. Ref :- rule 29C (3) read along with the explantion thereto of Income tax Rules,1962.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2010 Thanks a lot for your quick reply. But one more querry is that then what's provision for submission of these forms which are not submitted within the time limit or there is no use of submission of such forms?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 August 2010 My understanding to the above is given to your second query. Pl see that.