The Central Board of Indirect Taxes vide its Notification dated 3rd March 2020 has extended the validity of forms 15G and 15H by three months to June 30, 2020, and has prevented banks from deducting TDS on interest income of individuals.
investors who are required to submit the Form-15G/Form-15H can submit it in the first week of July 2020 and those who have already submitted valid Form 15G and Form 15H to the banks or other institutions for F.Y. 2019-20, the Form 15G and Form 15 H will be valid up to 30.06.2020 for FY 2020-21.
The extension of the validity of Form 15G and Form 15H of FY 2019-20 will come as a relief for the taxpayers who usually have to submit these forms in the first week of April every financial year. Due to severe disruption of the normal working of the economy including banks and other institutions due to outbreak of pandemic COVID-19 lockdown the above validity extension has been provided.
Click here to read the Notification.
