15g & 15h
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2011
15G & 15H what is the difference betw this form?
when it is used?
who will issue?
who will reeceive?
when it is used?
who will issue?
who will reeceive?
09 December 2011
The main difference between Forms 15G and 15H is that Form 15G is meant for non-senior citizens whereas Form 15H is meant for senior citizens only.
n order to be eligible to furnish Form 15G, the non-senior citizen investor needs to fulfill the following two conditions:
1. The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil; and
2. The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab which is Rs1,80,000 for men and Rs1,90,000 for women.
For 15H(is meant for senior citizens only)
The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil
It doesn’t matter what amount he receives from which source; this information is irrelevant for Form 15H.
To sum
Fresh forms are required to be filed each year. As incomes of investors may differ from year to year, the eligibility for furnishing the forms has to be ascertained every year.
n order to be eligible to furnish Form 15G, the non-senior citizen investor needs to fulfill the following two conditions:
1. The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil; and
2. The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab which is Rs1,80,000 for men and Rs1,90,000 for women.
For 15H(is meant for senior citizens only)
The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil
It doesn’t matter what amount he receives from which source; this information is irrelevant for Form 15H.
To sum
Fresh forms are required to be filed each year. As incomes of investors may differ from year to year, the eligibility for furnishing the forms has to be ascertained every year.
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2011
THANK U SIR
I UUNDERSTOOD.............
I UUNDERSTOOD.............
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