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Simplification of procedure for Form No. 15G & 15H

Income Tax - 04/2015 - Dated:- 1-12-2015 - Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi Notification No. 4/2015 New Delhi, 1st of December 2015 Subject: Simplification of procedure for Form No. 15G & 15H - regarding. Section 197A of the Income tax Act provides for no deduction in certain case by submitting a declaration using Form 15G/15H as laid down in Rule 29C of the Income tax Rules. The manner of filing such declarati .....

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s of section 206AA(2). A unique identification number shall be allotted to declaration (paper /electronic). The payer shall digitize the paper declaration and upload all declarations (including electronic declaration and digitized declaration) received during a particular quarter at departmental site (www.incometaxindiaefiling.gov.in) on quarterly basis. Further, clause 5 of rule 29C provides that the payer shall also furnish transactions covered under 15G/15H declarations in quarterly TDS state .....

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ion of the electronic declaration: Rule 29C enables the payer to receive electronic declaration after due verification through an electronic process. The payer shall be responsible for proper verification of the declarant through an electronic process and shall implement the verification process after due diligence to ensure nonrepudiation of the declarant. The payer shall archive log of all electronic activities in the process of furnishing of electronic declaration and the payer shall be respo .....

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