Hi Friends,
One of my relative have submitted form 15G to me asking me not deducting TDS on interest payable to him but m not sure wat to b done next. Should I go submit the same to the department or hold it with me and use it in case of future assessments. Pls guide me further.
Yes, you need to submit a copy of Form 15G / 15H with the Income Tax Department and keep a acknowledgement with you.
Yes, you shall deliver or cause to be delivered to the Chief Commissioner or Commissioner, one copy of the declaration on or before the 7th day of the month next following the month in which the declaration is furnished to you.
One copy is to be retained with you, as the assesse is required to furnish a Declaration in writing in duplicate.
(Assuming you as the person who is responsible for paying any income referred u/s 197A).
Regards,
yes i agree with above both of u
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