Form 15G and Tds under section 194H

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15 Points Posted on 17 April 2021
can a person furnish form 15G for commission income taxable under section 194H
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On 17 April 2021 at 19:16 Report
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Form 15G is typically used to declare that your income is below the taxable threshold, preventing TDS deduction, primarily for interest income. However, it cannot be furnished for commission income that falls under Section 194H of the Income Tax Act, 1961. This is due to specific provisions within the Act, such as Section 197A(1A), which outline the conditions for furnishing Form 15G.

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3924 Points Posted on 17 April 2021
No , one can not furnish 15G for commission income under section 194H , please refer section 197A (1A) of the income tax act 1961.
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On 17 April 2021 at 21:01
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Chartered Accountant
24588 Points Posted on 18 April 2021
No, 15G cannot be furnished for commission income as per IT ACT. 15G is declared for non deduction of TDS for interest income from bank
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On 18 April 2021 at 06:16

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