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
R LAKSHMI NARAYANAN)
(UNDER SECRETARY TO GOVERNEMNET OF INDIA)
(UNDER SECRETARY TO GOVERNEMNET OF INDIA)
Note.— The principal rules were
published in the Gazette of India, Extraordinary, Part II, Section 3,
Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March,
1962 and last amended vide notification No. S.O. 2604 (E), dated the 23/09/2015.
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