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PROCEDRE OF FILING 15H RETURN

sheetal (CA) (105 Points)

12 November 2009

What is the procedure of filing 15H return ?

Can anybody please tell us detail procedure ?

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6 Replies

Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14477 Points)
Replied 12 November 2009

if a person were to receive interest from bank exceeding Rs 10,000 from a bank and if he submitted Form 15H in duplicate to the said bank, the bank would not deduct any tax at source from the interest payable. It must be noted that the declaration required to be filed in Form 15H is with regard to only the tax liability of the payee (which has to be nil) and not the total income of the payee.

sheetal (CA) (105 Points)
Replied 12 November 2009

sir,

I want to know what is the procedure for filing 15H return given by the party.

If the co pays interest to party and party gives 15H then co has to file the 15H return .What is the procedure of filing the 15H return .

Sunil (Trader) (2611 Points)
Replied 12 November 2009

When you upload your TDS you have to indicate nil tax on account of Form 15H u/s. You are collecting this in triplicate. You acknowledge and return 1 to the depositor. 1 is for your record and on 1 of them you have to fill in the column behind the form below the verification of depositor and submit it to the TDS Officer where you are aseessed for TDS.