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Late filing of Form 15G/H

Radhika Bhinde (practice) (24 Points)

25 May 2022

What is penalty for late filing of 15G/H form online??

please Guide

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11 Replies

Sandeep Jain (Pivate) (1476 Points)
Replied 25 May 2022

No penalty But confirm from bank may be deducted TDS

Radhika Bhinde (practice) (24 Points)
Replied 25 May 2022

Okay
thank u...

srrassociates ideas (4 Points)
Replied 26 May 2022

There will be no penalty but better to file as soon as possible because they will deduct TDS otherwise unnecessarily

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 26 May 2022

If the income is above BEL make sure that you don't submit false declaration through Form 15G/H

2 Like

sabyasachi mukherjee (27849 Points)
Replied 26 May 2022

No deduction for tds must be made.

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 26 May 2022

There no penalty for delay.

Bank has to deduct Tds if your GTI is more than BEL

2 Like

sabyasachi mukherjee (27849 Points)
Replied 29 May 2022

Basic exemption limit how does the bank calculates from apparent records.For example I hv 3 lacs as opening balance during the financial year ,during the year there are certain transactions which are max to 2 lacs. so how does bank deduct deduction tds. The basic exemption limit is 2.5 lacs after that what happens?It's taxable. Now after the bank deducts considering exemption of Sec 80TTA/80TTB. BANK IS UNDER OBLIGATION TO GIVE TDS CERTIFICATE. SO WHO IS RESPONSIBLE?