Order u/s 119 of the Income-tax Act, 1961 (the Act) regarding submission of Form 15G and 15H for Financial Year-2020-21-reg. In case if a person had submitted valid Forms 15G and 15H to the Banks or other Institutions for F.Y. 2019-20, then these Form 15G and 15H will be valid up to 30.06.2020 for FY 2020-21 also
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block. New Delhi
03rd April, 2020
Subject: Order u/s 119 of the Income-tax Act, 1961 (the Act) regarding submission of Form 15G and 15H for Financial Year-2020-21-reg
Due to outbreak of pandemic Covid-19 virus, there is severe disruption in the normal working of almost all sectors of economy including functioning of the Banks, other Institutions etc. Amidst such situation, there can be instances that some eligible persons may not be able to submit the Form 15G and 15H timely to the Banks, other Institutions etc. This would result into the deduction of TDS by the Banks and other Institutions even where there is no tax-liability. To mitigate the genuine hardship of such persons, the CBDT issues following directions/clarifications by exercise of its powers u/s 119 of the Act.
2. In case if a person had submitted valid Forms 15G and 15H to the Banks or other Institutions for F.Y. 2019-20, then these Form 15G and 15H will be valid up to 30.06.2020 for FY 2020-21 also. It is reiterated that the payer who has not deducted tax on the basis of said Forms 15G and 15H, shall require to report details of such payments/credits in the TDS statement for the quarter ending 30.06.2020 in accordance with the provisions of rule 31A (4)(vii) of the Income-tax Rules, 1962.
( Mahesh Kumar)
Director (IT-Budget), CBDT
Changes in EPS by the Central Government as per New Notification MINISTRY OF LABOUR AND...
DOPT Clarification on regularization of absence during COVID-19 epidemic lockdown period. F.No.14029/5/2019-Estt.(L)(Pt.2)Government of IndiaMinistry of...
A number of representations are being received in this office seeking grant of one annual...
Delhi High Court Dismisses Plea against Centre’s decision on Freezing of Dearness Allowance and Dearness...
Retention in Govt Service beyond the age of 50 years or on completion of 30...
Stepping up of pay of senior Assistants of CSS drawing less pay on promotion in...