Introduction of new rules regarding Form 15G and 15H (1)

Form 15G/ 15H – Introduction of new rules

December 23, 2015

As we have seen in one of the earlier posts, there had been a few changes made for the submission of Forms 15G/ 15H. Now there have been further enhancements made which is covered in this post.

One of the conditions that have been relaxed under the revision is the mode of submission of these forms to Deductor.

Now an eligible assessee may file Form 15G/ 15H either electronically or in the paper format. Electronic filing will be made available when the deductors like Banks provide such facility for their customers through an online portal like internet banking login, which will allow for them to file their Form 15G/ 15H online.

The other change which has been introduced will be applicable for the deductor. Now the deductor will not have to submit the physical copy of the Forms to the Income Tax Department. Instead, the deductor has to update the information through Quarterly TDS Return Statement by providing relevant information and certificate number (Unique Identification Number).

This change has been made effective from 1st of October,2015.

However, the deductor will have to retain the Forms up to a period of seven years from the time of submission. Instruction has to be given for the prevention of the destruction of the Form for seven years.

The steps to be followed are:

  • A payee can submit a self-declaration of Form 15G/ 15H, either manually or electronically.
  • The deductor will not deduct the tax. A unique identification number (UIN) will be provided to all the self-declarations.
  • The particulars of the self-declaration have to be furnished by the deductor, along with the UIN, during the quarterly TDS return filing.
  • The details of the self-declaration done through Form 15G /H should be uploaded at Income Tax Department website on a quarterly basis.

Points to keep in mind:

  • Only a resident of India is eligible to submit these Forms.
  • It is mandatory to submit PAN. If PAN is not submitted or if incorrect PAN is submitted then TDS will applicable at a higher rate( 20%).
  • The assessee’s total gross income for the financial year should not exceed the Income tax basic exemption limit i.e., up to 2.5 Lakhs, from all sources of income.

Form 15G is submitted by an individual who is under 60 years of age.

Similarly, Form 15H is submitted by an individual of above 60 years of age.

Related topics: New FVU release, Form 15G/H simplified.

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3 Responses to “Form 15G/ 15H – Introduction of new rules”


    can a assessee submit 15 G or H otherthan net assessee submit 15 G or H submit direct to Inomce Tax Department if yes then please give me entire procedure

  2. gopal v

    More details how it can be incorporated in SARAL TDS ,what steps need to be taken. Bulk updating in SARAL TDS
    are required.

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