Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: cpt :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: due date for vat payment :: list of goods taxed at 4% :: articles on VAT and GST in India :: form 3cd
 
 
Direct Tax »
 CBDT signifies achievements towards eliminating domestic black money
 Seafarers get tax exemption from Ministry of Finance
 Financial institutions need to get accounts self-certified for FATCA by April 30
 Direct tax incentives to promote start-ups
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
 Central Board of Direct Taxes clarifies on cash curb, Aadhaar
 CBDT to issue PAN, TAN within a day to improve Ease of Doing Business
 Expats who stayed in India for 182 days or more must apply for Aadhaar card: CBDT
 CBDT accomplishes direct taxes collection target for FY 2016-17
  No relief to those who defaulted on 1st IDS installment: CBDT
 New Income Tax forms: What information is being asked for? All you want to know about the new rules

CBDT relaxes window for quarterly upload of 15G/15H
September, 08th 2016

The income tax department has relaxed the due date for quarterly furnishing of 15G and 15H declarations by financial institutions (FIs) received from tax payers.

The income tax department has relaxed the due date for quarterly furnishing of 15G and 15H declarations by financial institutions (FIs) received from tax payers.

Forms 15G and 15H are filed by those whose incomes are below the taxable threshold in order to seek exemption from TDS on interest income.

While form 15H is submitted by senior citizens, 15G can be filed by an individual whose taxable income is less than the exemption threshold.

The Central Board of Direct Taxes (CBDT) had received representations from FIs for extension of the deadline for e-filing of these forms on the tax department portal.

Accordingly, the forms received by FIs between October 2015-March 2016 can now be e-filed with the tax portal by October 31 as against the earlier June 2016.

As for declarations received during April-June 2016, the due date for uploading has been extended to October 31, 2016, from the earlier requirement of July 15.

For 15G/15H declarations that came in during July-September 2016, the extended cut off now stands at December 31, 2016, as against earlier date of October 15.

Explaining the CBDT notification, Nangia & Co Partner Suraj Nangia said FIs had been facing issues on quarterly furnishing of form 15G/H since clarity on due date and manner of filing came only on June 9 and the deadline for furnishing the declaration received during the 6 months ended March 2016 was June 30.

“Addressing the concerns of the financial institutions, CBDT has given time… to put in place systems to capture and furnish the form 15G/H declarations online, and has extended the timeline,” Nangia said.

However, there has been no change in the due date for furnishing of 15G/15H declarations received during the third and fourth quarters of the financial year.

For declarations received till December 31, the cut-off for uploading of the form is January 2017. Those received by March 31, 2017, the due date will be April 30, 2017.

In September 2015, CBDT had done away with the requirement of submitting physical copy of form 15G and 15H by the deductor or financial institutions to I-T authorities.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions