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Online submission of form 15g/h by tax deductor in a.y. 2016-17

babita paliwal (Student CA Final ) (124 Points)

14 April 2016

Dear sir/madam:- one of TDS client has received some manual form of 15G/H from his payee (to whom Interest is paid) and now the clients wants to submit these form through online process. please suggest me what is the process of online submission of these form of 15G/H

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4 Replies

Shubham Gupta (Business Consultants) (2077 Points)
Replied 14 April 2016

Tax payer need to submit form 15G/15H online and deductor on receiving the same will assign Unique Identification Number (UIN) to all self-declaration
Both the UIN and self-declaration details will have to be furnished by the deductor in the quarterly TDS statements.
In addition, deductor will be required to retain Form 15G and 15H for seven years

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Jacky (Accountant & CA Final Student) (320 Points)
Replied 14 April 2016

download form 15G form from E-Filing site & then fill the required details as given in the utility from the form given by payee....Xml file ll be generated....this X M L has to be uploaded at site...to upload that deductor has to register at site "As a deductor".....

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abhijeet m. deshpande (tax-consultant) (111 Points)
Replied 15 April 2016

Is it compulsory for the deductor to upload the form 15h received. Or can he just retain the forms received for 7 years and mention the same in the qtly TDS return.

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Jacky (Accountant & CA Final Student) (320 Points)
Replied 15 April 2016

https://taxdesign.in/form-15g-and-15h-how-file-online/

CBDT has made the entire procedure relating to filing of form 15G/15H online. The complete procedure of online filing of 15G/15G is as follows:-

1 ) First of all deductee will submit form 15G/H to deductor via online / offline.

2) Deductor will collect the form for entire quarter and file such information at 2 places on quarterly basis

a) The deductor will upload information of all 15G/H received on quarterly basis with income tax department.

b) Deductor will mention all amounts paid against each 15G/H in quarterly TDS return.

3) The deductor will be responsible for reconciliation of allotted UIN as reported to income tax as per point no, 1 with UIN as mentioned in TDS return ( point no. 2)

Conclusion:-

As there is Reco Mechanisim & hence compulsory.......