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: cpt :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT RATES
 
 
Direct Tax »
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961
 Banks must furnish information on accounts that have seen deposits over 2.5 lakh: CBDT
 Govt expects direct and indirect tax targets to exceed budget estimates this fiscal
 Tax recovery from Swedish majors in payment dispute put on hold
 CBDT signs three more advance pricing pacts

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.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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