Government
Simplifies the Format and Procedure for Self Declaration in form No.15G or 15H
to Reduce the Cost of Compliance and Ease the Compliance Burden for both, the
Tax Payer and the Tax Deductor; Procedure for Submission of the Forms by the
Deductor also Simplified;
Payee
Can Submit the Self-Declaration Either in Paper form or Electronically; the
Deductor will Not Deduct Tax and will Allot a Unique Identification Number
(UIN) to all Self-Declarations in Accordance with a well Laid Down Procedure to
be Specified Separately.
Tax payers seeking
non-deduction of tax from certain incomes are required to file a self
declaration in Form No. 15G or Form No.15H as per the provisions of Section
197A of the Income-tax Act, 1961 (‘the Act’). In order to reduce the cost of
compliance and ease the compliance burden for both, the tax payer and the tax
deductor, the Central Board of Direct Taxes (CBDT) has simplified the format
and procedure for self declaration in Form No.15G or 15H. The procedure
for submission of the Forms by the deductor has also been simplified.
Under the simplified procedure,
a payee can submit the self-declaration either in paper form or electronically.
The deductor will not deduct tax and will allot a Unique Identification Number
(UIN) to all self-declarations in accordance with a well laid down procedure to
be specified separately. The particulars of self-declarations will have to be
furnished by the deductor along with UIN in the Quarterly TDS statements. The
requirement of submitting physical copy of Form 15G and 15H by the deductor to
the income-tax authorities has been dispensed with. The deductor will, however
be required to retain Form No.15G and 15H for seven years.
The revised procedure shall be
effective from the 1st day
of October, 2015. The Notification issued vide S.O. No.2663 (E) dated 29th
September 2015 is as follows –
————————————
TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II,
SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION NO. 76/2015, Dated : September 29, 2015
S.O.
2663 (E). – In exercise of the powers conferred by section 295 read with
section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Board of
Direct Taxes hereby makes the following rules further to amend the Income-tax
Rules, 1962, namely:-
1. (1)
These rules may be called the Income-tax (14th Amendment) Rules,
2015.
(2) They
shall come into force on the 1st day of October, 2015.
2. In
the Income-tax Rules, 1962 (hereafter referred to as the said rules), for rule
29C, the following rule shall be substituted, namely:-
“29C. Declaration
by person claiming receipt of certain incomes without deduction of tax. – (1) A
declaration under sub-section (1) or under sub-section (1A) of section 197A
shall be in Form No. 15G and declaration under sub-section (1C) of section 197A
shall be in Form No. 15H.
(2) The
declaration referred to in sub-rule (1) may be furnished in any of the
following manners, namely:-
(a) in
paper form;
(b)
electronically after duly verifying through an electronic process in accordance
with the procedures, formats and standards specified under sub-rule (7).
(3) The
person responsible for paying any income of the nature referred to in
sub-section (1) or sub-section (1A) or sub-section (1C) of section 197A, shall
allot a unique identification number to each declaration received by him in
Form No.15G and Form No.15H respectively during every quarter of the financial
year in accordance with the procedures, formats and standards specified by the
Principal Director-General of Income-tax (Systems) under sub-rule (7).
(4) The
person referred to in sub-rule (3) shall furnish the particulars of declaration
received by him during any quarter of the financial year along with the unique
identification number allotted by him under sub-rule (3) in the statement of
deduction of tax of the said quarter in accordance with the provisions of
clause (vii) of sub-rule (4) of rule 31A.
(5) The
person referred to in sub-rule (3) shall furnish the statement of deduction of
tax referred to in rule 31A containing the particulars of declaration received
by him during each quarter of the financial year along with the unique
identification number allotted by him under sub-rule (3) in accordance with the
provisions of clause (vii) of the sub-rule (4) of rule 31A irrespective of the
fact that no tax has been deducted in the said quarter.
(6)
Subject to the provisions of sub-rules (4) and (5), an income-tax authority
may, before the end of seven years from the end of the financial year in which
the declaration referred to in subrule (1) has been received, require the
person referred in sub-rule (3) to furnish or make available the declaration
for the purposes of verification or any proceeding under the Act in accordance
with the procedures, formats and standards specified by Principal Director
General of Incometax (Systems) specified under sub-rule (7).
(7) The
Principal Director General of Income-tax (Systems) shall specify the
procedures, formats and standards for the purposes of furnishing and
verification of the declaration, allotment of unique identification number and
furnishing or making available the declaration to the incometax authority and
shall be responsible for the day-to-day administration in relation to the
furnishing of the particulars of declaration in accordance with the provisions
of sub-rules (4) and (5).
(8) The
Principal Director General of Income-tax (Systems) shall make available the
information of declaration furnished by the person referred to in sub-rule (3)
to the Principal Chief Commissioner or Chief Commissioner or Principal
Commissioner or Commissioner to whom the Assessing Officer having jurisdiction
to assess the person who has furnished the declaration under sub-section (1) or
under sub-section (1A) or under sub-section (1C) of section 197A is
subordinate.”.
3. In
Appendix-II of the said rules, for Form No.15G and Form No.15H, the following
Forms shall respectively be substituted, namely: –
F.No.133/50/2015-TPL
Read
notification at:
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