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Submission of form 15g/h

Mayank Singhvi (CA FINAL) (148 Points)

10 May 2016

Is form 15g/h required to be submitted for each deposit. I had submitted form 15g/h for existing FD, then I had made a new FD with same bank same branch. Am i required to submit 15g/h for new FD made with bank ?

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Rammohan (NA) (255 Points)
Replied 12 May 2016

In the bank where I have fixed depoosts, the 15G/H forms have provision to enter the customer ID as also to list all the existing FDs held in that customer ID. The practice of the bank is to ask for a fresh. 15G/H form for a new FD (not being a renewal of an exsting FD for which 15G/H form has been submitted earlier for the same FY), assuming that the new FD is also to be included in the same customer ID.