Simplifying Tax for C.A's and Taxpayers
Due date for online submission of income tax forms 15G and 15H by deductor has been notified

Due date for online submission of income tax forms 15G and 15H by deductor has been notified

Vide notification no.9/2016 dated 09.06.2016. Forms are to be submitted to department on quarterly basis.

Clarification regarding simplification of procedure for form no.15G and 15H

Central board of Direct taxes vide notification no.9/2016 dated 09.06.2016 has resolved the issue of due dates of submission of online forms 15G and 15H by deductor received from tax payers.

As we all know section 197A of the Income tax act, 1961 inter alia provide that on submission of self declaration in form 15G or 15H as the case may be to the payer of income by the tax payer, no tax be deducted on receiving income liable for deduction of TDS.

The manner of filing such self declarations by the person receiving income to the payer has been prescribed under rule 29C of the income tax rules, 1962 w.e.f 01.10.2015 vide notification no. 76/2015 dated 29.09.2015. However procedure was yet to be notified.

For this, vide notification no. 4/2015 dated 01.12.2015 principal director general of Income tax systems has notified the procedure, formats and standards for the purpose of rule 29C.

However the notifications were silent on the following issues:

  • Due date for quarterly uploading of 15G/15H by payers online
  • The manner for dealing with form 15G/15H received by payer during the period from 01.10.2015 to 31.03.2016.

Resolving these issues CBDT now has clarified that forms be submitted on quarterly basis and due dates for submission will be as follows:

S.No.Date of ending of the quarter of the financial yearDue date
1.30th June15th July of the financial year
2.30th September15th October of the financial year
3.31st December15th January of the financial year
4.31st March30th April of the financial year immediately following the financial year in which declaration is made.

For the period 01.10.2015 to 31.03.2016, it has been clarified that forms 15G/15H received during the period 01.10.2015 to 31.03.2016, shall be furnished online by deductor on or before 30.06.2016.

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