Is it necessary to collect form 15G/H every year in case of a fixed deposit accepted by a financial company for a period of 3 years
ann thomas (Finance manager) (34 Points)
02 July 2009Is it necessary to collect form 15G/H every year in case of a fixed deposit accepted by a financial company for a period of 3 years
Sunali
(Learner)
(1317 Points)
Replied 02 July 2009
Yes, it is, as the income of the assessee can jump the exemption limit any year, But, it also depends on the policy of the dedutee i.e. if the interest is accounted for every year during the three year period, it need to be collected for all the three years otherwise if the interest is considered on maturity, one can collect it in the respective year only.
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 02 July 2009
agree with sunali
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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