{"id":124,"date":"2015-09-30T00:00:00","date_gmt":"2015-09-29T18:30:00","guid":{"rendered":""},"modified":"2015-12-29T11:05:31","modified_gmt":"2015-12-29T05:35:31","slug":"the-requirement-of-submitting-physical-copy-of-form-15g-and-15h-by-the-deductor-has-been-dispensed-with-from-1st-october-2015","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/income-tax\/the-requirement-of-submitting-physical-copy-of-form-15g-and-15h-by-the-deductor-has-been-dispensed-with-from-1st-october-2015\/","title":{"rendered":"The requirement of submitting physical copy of Form 15G and 15H by the deductor has been dispensed with from 1st October 2015"},"content":{"rendered":"

<\/a>Government of India<\/strong><\/span><\/p>\n

 Ministry of Finance<\/strong><\/p>\n

Department of Revenue<\/strong><\/p>\n

Central Board of Direct Taxes<\/strong><\/p>\n

 PRESS RELEASE<\/strong><\/p>\n

 <\/p>\n

New Delhi, 30th<\/sup> September, 2015<\/p>\n

 <\/p>\n

Subject:<\/strong>        Simplification of procedure for Form No.15G
\n& 15H \u2013 regarding<\/strong><\/p>\n

 <\/p>\n

Tax payers seeking non deduction of tax from certain
\nincomes are required to file a self declaration in Form No. 15G or Form No.15H
\nas per the provisions of Section 197A of the Income-tax Act, 1961 (\u2018the Act\u2019).
\nIn order to reduce the cost of compliance and ease the compliance burden for both,
\nthe tax payer and the tax deductor, the Central Board of Direct taxes has
\nsimplified the format and procedure for self declaration of Form No.15G or 15H.
\nThe procedure for submission of the Forms by the deductor has also been
\nsimplified.<\/p>\n

Under the simplified procedure, a payee can submit the
\nself-declaration either in paper form or electronically. The deductor will not
\ndeduct tax and will allot a Unique Identification Number (UIN) to all
\nself-declarations in accordance with a well laid down procedure to be specified
\nseparately. The particulars of self-declarations will have to be furnished by
\nthe deductor along with UIN in the quarterly TDS statements. The requirement of
\nsubmitting physical copy of Form 15G and 15H by the deductor to the income-tax
\nauthorities has been dispensed with. The deductor will, however be required to
\nretain Form No.15G and 15H for seven years.<\/p>\n

 The revised procedure shall be
\neffective from the 1st<\/sup> day of October,
\n2015.<\/p>\n

 The
\nNotification issued vide S.O. No.2663(E) dated 29th September 2015 is available
\non the website of the Department at www.incometaxindia.gov.in<\/p>\n

 <\/p>\n

 (Shefali Shah)<\/strong><\/p>\n

 Pr. Commissioner of Income Tax (OSD)<\/strong><\/p>\n

 Official Spokesperson, CBDT<\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Government of India Department of Revenue Central Board of Direct Taxes   New Delhi, 30th September, 2015   Under the simplified procedure, a payee can submit the self-declaration either in paper form or electronically. The deductor will not deduct tax and will allot a Unique Identification Number (UIN) to all self-declarations in accordance with a … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[76],"yoast_head":"\nThe requirement of submitting physical copy of Form 15G and 15H by the deductor has been dispensed with from 1st October 2015 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/income-tax\/the-requirement-of-submitting-physical-copy-of-form-15g-and-15h-by-the-deductor-has-been-dispensed-with-from-1st-october-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The requirement of submitting physical copy of Form 15G and 15H by the deductor has been dispensed with from 1st October 2015 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Government of India Department of Revenue Central Board of Direct Taxes   New Delhi, 30th September, 2015   Under the simplified procedure, a payee can submit the self-declaration either in paper form or electronically. 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