Late filing of For 15G

Ms. Rekha

Form No.15G is to be submitted before deduction of tax at source by the payer of the income.  The person responsible for paying the income who receives Form No.G in duplicate has to submit a copy to the jurisdictional CIT.

Hence the form should be submitted to the payer of the income if the payment date or date of passing an entry in his books of account.  If the payment or date of passing the entry is the last date of the financial year the form should be submitted before the 31st March.  If the person responsible for paying the income is not in receipt of the form he should deduct tax source.  Otherwise he should face the consequences for failure for deduction of tax at source.

Hope you have got the clarification.

With Best Wishes

Sathikonda

Please refer section 197A of Income-tax Act.

Best Wishes

Sathikonda