On the request of my viewers I have uploaded some of the Income Tax forms in Excel, Word and PDF Format. Although, I haven’t uploaded all the forms but I uploaded most of the important forms. If any viewers have any form other then those uploaded in excel word format he can mail those to us at our mail id [email protected] and we will upload the same on our website for the benefit of other viewers.
To download you must subscribe. Enter your email address to Subscribe: Delivered by Tax Guru PARTICULARS FORM NO. In the new Form 15H,I have doubt on TWO columns- namely the following for Assessment year 2014-15 for which this form is to be submitted now: Col-21:Estimated total income from the sources mentioned below: (I think I have fill up here the total amount which I would receive from this branch during FY 2013-14. Of course mine is only Interest Income. Kly clarify.) Col-22:Estimated total income of the previous year in income mentioned in Col – 21 to be included (This is not clear to me. For Assessment year 2014-15 for which Form 15H is to be submitted now, “previous year” is normally taken as year ending 31.3.2014. In that case the amounts in columns 22 & 23 are the same.) Since I am outside India on personal tour, Your IMMEDIATE response will help me to submit Form 15H in time.
Subramanian.V Indian Resident, Male, Age 74 Chennai. Hello sir, I am a PHYSICALLY HANDICAPPED GOVT. EMPLOYEE WITH 80% MY SPOUSEWIFE IS ALSO PHYSICALLY HANDICAPPED WITH 40% MY 16A FORM FROM MY OFFICE DEDUCTED ONLY MY DEDUCTION AMT. 100000 AS PER CL. 80U MY WIFE IS TOTALLY DEPENDED ON ME AND SHE IS HOUSEWIFE NO ANY INCOME FROM HER SO I WANT TO EFFECT SEC. DEPENDED OF MINE. AND I WANT TO GET REFUND AMT OF INCOME TAX WHICH IS ALREADY I HAVE PAID HOW CAN I SUBMIT MY TAX RETURN?
WHICH SUPPORTING DOCUMENT I HAVE TO GIVE WITH MY E-FILLING RETURN SIR, WHICH FORM FOR REFUND I HAVE TO FULFILL AND SEND WITH E-RETURN SIR, PL. HELP ME FOR THE SAME CONTACT. MOB:+62 HOPE MY PROBLEMS WILL SOLVED FROM YOUR VALUABLE AND PRECIOUS KNOWLEDGE THANKS & REGARDS HARESH R MAKWANA RAJKOT GUJARAT mail.
Made payments of freight during the financial year relevant to A.Y. 2008-09, without any TDS, after obtaining prescribed Form No. 15I from Truck Operators. Mgi photosuite 4 final version. However, the company could not submit Form No.
15I to the Income-Tax Department.During the course of assessment proceedings, the AO made entire disallowance of payments of freight under s. 40a(ia) of the Act on the ground that the company made default in deducting TDS. However, during the course of assessment proceedings the company had produced Form No. 15I and also Affidavits of the Truck Operators before the AO. Is the action of AO justified?
In order to reduce the cost of compliance and ease the compliance burden for both, the tax payer and the tax deductor, the Central Board of Direct Taxes (CBDT)has simplified the procedure for self declaration and introducing new Form 15G and new Form 15H in new format. The procedure for submission of the Forms by the deductor has also been simplified. The revised procedure shall be effective from the 1st October, 2015. What is Form no. 15G / Form no.
If your total income is below the taxable limit, you can submit Form 15G and Form 15H to the bank or any deductor requesting them not to deduct any on your interest. Form 15H is for senior citizens who are 60 years or older and Form 15G is for everybody else. Form 15G/H help customers to avail exemption from TDS on interest earned on investments like bank fixed deposits or in a financial year. A fresh form 15 G/H to be submitted in each new financial year by the start of every financial year. The maximum interest income not charged to tax during the financial year where form 15 G/H is submitted at bank(s) is as below.
Upto Rs 2,50,000/- for residents of India below the age of 60 years or a person ( not being a company or firm ). Upto Rs 3,00,000 for senior citizen residents of India who are between the age of 60-79 years at any time during the FY. Upto Rs 5,00,000 for senior citizen residents of India who is 80 years or more at any time during the FY. New Form 15G & Form 15H. Under the simplified procedure, a payee / an individual can submit the self-declaration either in paper form or electronically. Universal driver for usb gamepad software. The deductor (Example – Bank) will not deduct tax and will allot a Unique Identification Number (UIN) to all self-declarations in accordance with a well laid down procedure.
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The particulars of self-declarations will have to be furnished by the deductor along with UIN in the quarterly TDS statements. The requirement of submitting physical copy of Form 15G and 15H by the deductor to the income-tax authorities has been dispensed with. The deductor will, however be required to retain Form No.15G and 15H for seven years. The revised procedure shall be effective from the 1st October, 2015. Click on the below image to ‘ ‘ new Form 15G and new Form 15H in PDF format. The attached file also has detailed instructions on how to fill new Form 15G & new Form 15H.
Sreekanth Reddy Sreekanth is the Man behind ReLakhs.com. He is an Independent Certified Financial Planner (CFP), engaged in blogging & property consultancy for the last 7 years through his firm ReLakhs Financial Services. He is not associated with any Financial product / service provider. The main aim of his blog is to 'help investors take informed financial decisions.'
'Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion.' Dear Sir, I was working with an organization for a period of 2 years from 2009-2011. After quitting the job did my own practice, and have rejoined in another firm currently. Till date i have not withdrawn my epf of the period 2009-2011. Currently i am drawing taxable salary, but will be withdrawing my epf. I have few queries for the same 1) do i need to submit form 15g 2) will my withdrawal be taxable and at what rate 3) in form 15 which AY should be written for previous years accumulated EPF withdrawn now.
Pls confirm 15G/15H is applicable for NRI or not. Hello, My mother is getting Family Pension, for last many years, not senior citizen, from my dad’s government employer after his demise.
She also has FDs of gratuity, ppf, pf (received as my dad’s savings). These all have interest 1L. Initially bank manager told to keep submitting 15G form as interest on FD should not be deducted as TDS. So she used to fill every year till last year. But as this year FY 2016-2017 the 15G format is changed she had doubts and did not fill. Now calculationsher annual pension FY 2015-2016 2,67,000 (after deducting 15000 of exemption as Family Pension) and it does not include any of interest of FD. And she did fill 15G last year thinking it wont cross the taxability limit.
But tax was deducted as TDS as we dint fill 15G this year after seeing 26S form. So can I file tax return for FY 2016-2017 to claim deducted tax. Also when I calculated many of past few years pension, it crosses the taxable limit by couple of thousands. And 15G was filled for all those years. My Questions: 1. Did we file 15G forms incorrectly as we should be doing so. If #1 is right then can anything be done to get it revised/corrected?
Dear Sreekanth Reddy, Your advice for submitting Form 15 H is totally Wrong. For Senior citizens the only condition is that their TAX LIABILITY Should Be Nil. Even if the Interest Income (including submissions to all institutions) exceeds the maximum Limit,they can submit the Form 15 H.The total income means not GROSS INCOME.IT IS GROSS INCOME MINUS ALL ALLOWABLE DEDUCTIONS.IT IS THE TAXABLE INCOME.Means the tax liability should be NIL. For 15G The deductions are not allowed.FOR 15 G Two Conditions to be followed.
1) No Tax Liabilty and2) Interest income from all submissions should not Exceed The allowable Limit as on to day. It is clearly mentioned at point No.10, printed at the reverse side of forms 15 G and 15 H. Dear Sreekanth, Thanks for a detailed article. I am confused about few points, can you please help clarify them. The form 15H is futuristic, i.e. If my income in FY2016-17 is not going to exceed the taxable income slab of 2.5 Lakh then I should fill 15H at the start of the year.
The main confusion is regarding the PY(Previous Year) concept. Estimated income for which this declaration is made:- is it income for FY2016-17? Estimated Total income of the P.Y. In which income mentioned in column 15 to be included:- is it the income for 2015-16? (If yes, then why the word estimated, shouldn’t it be actual?
Also why it is needed because I am filing for FY2016-17? Also why column 15 income is to be included) 17.
Details of Form No 15H other than this form filed for previous year, if any:- Again why the 15H of the previous years? And it says ‘other than this form’ but I am filing this form for FY2016-17 then why it is considered for previous year? A little clarification on boxes 14, 15, 16, 17 will really be very helpful. Thanks in advance, Lalit. Hello, I am a senior citizen.I submit 15H form in April2015 assuming that my total income does not exceed Rs 300000. No tds deducted. Now I calculate my pension for the year ended 31march 16 was Rs 220000 and interest from fixed deposit Rs 130000.
Total Rs 350000.I bought Senior Citizens Savings Scheme Rs 60000 in march 2015. This scheme qualifies for the benefit of Section 80C.
So my income after deuction 30=290000 under the limit.I also submit income tax return next month. My question is now can I submit 15H form in april for this year or not?
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Suppose this year also my income about to same last year and I will buy NSC or Senior Citizens Savings Scheme and bring down my total income in limit. My income comprises only of interest income and I am not a senior citizen. My estimated interest income for 2016-17 will be around Rs.3.33 lacs.
Every year I invest Rs. 1.00 lac in Bank deposits for 5 years maturity under section 80C.
Thus my total tax liability for the year will be Nil. The deposits are spread out in 4-5 banks so that interest income from any one Bank does not exceed Rs.2.50 lacs. I am religiously submitting form 15 G to all these Banks and thereafter filing my IT return. In the old format, the information to be submitted only pertained to estimated income for the year.
It was only an estimate and if I submitted a lower income, it did not tantamount to submitting false information, and I was sure that at the end of the year my tax liability would be Nil. Now in the revised format, information about 15 G forms submitted to other banks is also required to be furnished. Thus it now becomes impossible to submit the form,as the total income exceeds Rs.2.50 lacs. The problem is if I submit wrong/false information, it is illegal.If I submit correct information, TDS of around Rs.30,000 will be deducted for which I have to claim a refund in my return. Is there any way out to ensure that my TDS deduction is Nil?
How To Fill Form 15g
I am a srctzn investor with Muthood Fincance Limited for NCDs monthly payment scheme. I had been submitting my declarations for no TDS in Form 15H for two years to their Delhi office. This branch office told me verbally they have received an internal memo from the Registrar of their company, advising not to accept from their investors any more Form 15 H in paper form next FY -2016-17. I think the new Rule does not make any change in Form 15 H or its paper form submission by investor to the person responsible for paying the income. On the other hand, the new rule makes it obligatory for the person responsible for paying the income to allot a UIC in the form and to simplify the procedure, transmit the information of Form 15H to tax authority through a electronic process, instead of physical form.
Please Clarify. Dear Sreekanth From my query dated March 23 and your reply dated March 25 2016, I understood the Payee (Muthoot Finance) cannot refuse their Investors to submit to them paper form Form 15 H (in New format) for no TDS deduction for FY 2016 – 17. If they do so, it would be a violation of Govt. New Rule and procedure. On the other hand, the Payee (in this case, Muthoot Finance) will be under an obligation to generate and assign an UIC in all Forms- 15H received by them from investors and transmit relevant detail quarterly to Income Tax authorities through Electronic Process Only. Also,the Payee will be required to maintain all Form 15-H received for a period of 7 years or so.
Please confirm. Sir, in nut shell you have quaoted all the required information and thanks for that.but how to get UIN is not mentioned by the department. In first discussion i feel that on the basis of form recd as if we are mentioning the details of freight persons for whom we didnot deduct the tax the same way we will file the detials in quarterly return and as like form no. 16 -A we will receive automatic no. And that will be UINO. But actually it is not like that and firstly we have to take UIN and then that no. Has to mention in quarterlt returns.
Form 15g In Word Format For Ay 2017-18
If we have bulk fd investors what short cut we should apply for taking UINO.