{"id":9394,"date":"2017-06-02T13:36:27","date_gmt":"2017-06-02T08:06:27","guid":{"rendered":"http:\/\/www.itatonline.org\/info\/?p=9394"},"modified":"2017-06-02T13:45:20","modified_gmt":"2017-06-02T08:15:20","slug":"cbdt-notification-reg-filing-of-tds-forms-15g-15h-us-197a-of-income-tax-act","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/cbdt-notification-reg-filing-of-tds-forms-15g-15h-us-197a-of-income-tax-act\/","title":{"rendered":"CBDT Notification Reg Filing Of TDS Forms 15G-15H U\/s 197A Of Income-Tax Act"},"content":{"rendered":"<p>The CBDT has issued Notification dated 30th May 2017 with regard to the obligation of the recipients\/ payees to furnish to the payer a self-declaration in Form No.15G\/15H under section 197A of the Income-tax Act, 1961 read with Rule 29C<\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- responsive --><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6440093791992877\"\n     data-ad-slot=\"6406297397\"\n     data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script> <\/p>\n<div class=\"journal2\"><a href=\"https:\/\/www.itatonline.org\/info\/cbdt-notification-reg-filing-of-tds-forms-15g-15h-us-197a-of-income-tax-act\/cbdt-notification-15g-15h-tds\/#dlcenter\" rel=\"attachment wp-att-9396\">Click here to download CBDT Notification dated 30th May 2017<\/a>\n<\/div>\n<blockquote><p>F.No. Pr. DGIT(S)\/CPC(TDS)\/NOTIFICATION\/2017-18<\/p>\n<p>Government of India<br \/>\nMinistry of Finance<br \/>\nCentral Board of Direct Taxes<br \/>\nDirectorate of lncome-tax(Systems)<br \/>\nNew Delhi.<\/p>\n<p>Notification No. 6\/2007<\/p>\n<p>New Delhi, 30th May, 2017<\/p>\n<p>Subject: Declaration in Form 15G-15H to be furnished to the Deductor\/Payer for each Financial Year \u2013 Clarifications -reg<\/p>\n<p>The provisions of section 197A of the Income-tax Act, 1961(\u2018the Act\u2019) inter alia provide that tax shall not be deducted, if the recipient of certain payment on which tax is deductible furnishes to the payer a self-declaration in Form No.15G\/15H in accordance with provisions of the said section. The manner of filing such declarations and the particulars have been laid down in Rule 29C of the Income-tax Rules, 1962 (\u2018the Rules\u2019) w.e.f 1.10.2015 vide Notification No.76\/2015 dated 29.09.2015.<\/p>\n<p>2. Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (Deductor) or Form 15G\/ 15 H has to be submitted each and every time the payment is due to be received from the deductor. A view has been expressed in certain quarter s that it will be sufficient if only one declaration is made in respect of the income each year before each person responsible for making the payment drawing the basis from Circular: 351, dated 26-11-1982. Para 5 of this circular is quoted as follows:<\/p>\n<p>\u201cThe declaration in Form No. 15F, 15G or 15H as explained above is to be furnished to the person responsible for paying the income which is sought to be received without deduction of  tax  at source. As the declarant has to  state  that  his  estimated  total  income  of the  previous  year  in which the income of the nature referred to in section 193, 194 or 194A is to be  included  in computing his total income is below the exemption  limit,  it  will  be  sufficient  if  only  one declaration is made in respect of the income each year  before  each  person  responsible  for making the payment. Hence, where payments  are  to  be  made by the  same  person  more  than once in a  year, the  declaration in the  relevant  form may  be furnished  before the  first  payment in a year becomes due. It may also be noted  that in the  declaration in  Form  No. 15 F, 15G  or 15H part iculars of only such securities, shares or, as the case may be, other  deposits  are  to  be furnished the income  from which is  payable by the  person  to  whom the  declaration is furnished. For ex ample, in the declaration in Form No. 15G furnished to company \u2018A\u2019 it is not necessary for the declarant to give particulars of the shares held by him in other companies.\u201d<\/p>\n<p>3. A holistic reading of the Circular provides that when the income for each year changes, new form 15G\/15H has to be filed. A similar position is taken up in notification No. 76\/2015 dated 29-09-2015 vide guidance note 6,7 and 8 and new column 17, 18, and 19 in form 15G and guidance note 5,6 and 7 and new column 16, 17, and 18 in form 15H. Thus, whenever the estimated total income\/ aggregate income changes and new investments are made, one needs to file new form 15G\/15H providing particulars of the same. However, in case of old investments he needs to provide total number of earlier declarations filed in form 15G\/15H and aggregate amount of income for which such Form 15G\/15H have been filed.<\/p>\n<p>4. Therefore, it is hereby clarified that the amended new forms 15G &#038; 15H vide CBDT Notification No 76 dated 29thSeptember, 2015 require the depositor to furnish the details of all investments up to that date including the current Fixed Deposit for which the Form 15G\/15H is being given and which are to be listed in Form 15G\/15H to enable the deductor\/payer to ascertain, whether the Form 15G\/15H can be accepted.<\/p>\n<p>5. This issues with the approval of the Principal Director General of Income-tax (Systems).<\/p>\n<p>(P. S. Thuingaleng)<br \/>\nDy. Commissioner of Income Tax (CPC\u2013TDS)<br \/>\nO\/o   The Pr. Director General of Income-tax (Systems)<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The CBDT has issued Notification dated 30th May 2017 with regard to the obligation of the recipients\/ payees to furnish to the payer a self-declaration in Form No.15G\/15H under section 197A of the Income-tax Act, 1961 read with Rule 29C<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/cbdt-notification-reg-filing-of-tds-forms-15g-15h-us-197a-of-income-tax-act\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-9394","post","type-post","status-publish","format-standard","hentry","category-all-information","category-others"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/9394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=9394"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/9394\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=9394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=9394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=9394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}