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Form 15g/h

Lalita Dabra (Student) (43 Points)

29 March 2016

hello guys..

I have little query related to electronically filing form 15G/H.

What is the procedure to submit Form 15G/H Electronically other than Banks.If Interest Income received From an individual.

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8 Replies

Jacky (Accountant & CA Final Student) (320 Points)
Replied 29 March 2016

https://www.taxvani.com/2016/03/how-to-upload-form-15g15h.H T M L

pls read above.....for ur query......click on above link

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Vidhya Chandran J (CA Article) (93 Points)
Replied 30 March 2016

I had a doubt related to Tax on Fixed Deposits. If a person deposit an amount into a bank as FD. As per my view Principal portion of FD is not taxable but interest income exceeding Rs. 10,000 is subject to TDs @ 10%. If he has no PAN the rate is also revised @ 20%. Reply this view also correct or wrong?

Jacky (Accountant & CA Final Student) (320 Points)
Replied 30 March 2016

ya its correct vidhya

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 30 March 2016

@ vidhya

from banks point its correct, they can deduct TDS @ 20% without pan and can not issue form 16A in absence of PAN

regarding pricipal, its matter of incometax department, where banks file Annual Information Report of any such transaction over 1 Lacs, and department may seek query / clarifications if they feel that tax is not paid on principal. banks has no role in it, except reporting to department

Vidhya Chandran J (CA Article) (93 Points)
Replied 30 March 2016

Thanks to both of u.

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Arun choudhary (articalship) (153 Points)
Replied 30 March 2016

yes ur point is correct Vidhya

shweta bhatter (CA) (173 Points)
Replied 30 March 2016

your view is correct vidhya.

Form 15G/H is an extension to your view, when the person is below exemption limit and doesnot want any tax to be deducted on interest income. CBDT has made filing Form 15G and Form 15H lot simpler by putting it online. Assesse seeking non-deduction of TDS from certain incomes is required to file a self-declaration under Form 15G or Form 15H and submit it to the deductor which is now can be done either in paper form or electronically.