NEW DELHI: The income tax department has relaxed the due date for quarterly furnishing of 15G and 15H declarations by financial institutions (FIs) received from tax payers.
Forms 15G and 15H are filed by those whose incomes are below the taxable threshold in order to seek exemption from TDS on interest income.
While form 15H is submitted by senior citizens, 15G can be filed by an individual whose taxable income is less than the exemption threshold.
The Central Board of Direct Taxes (CBDT) had received representations from FIs for extension of the deadline for e-filing of these forms on the tax department portal.
Accordingly, the forms received by FIs between October 2015-March 2016 can now be e-filed with the tax portal by October 31 as against the earlier June 2016.
As for declarations received during April-June 2016, the due date for uploading has been extended to October 31, 2016, from the earlier requirement of July 15. (AGENCIES)
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