After providing relief from applying for lower and nil deduction certificate till 30.06.2020, ministry of finance have now provided relief from filing of Form 15G and 15H till 30.06.2020.
In it’s order u/s 119 CBDT has clarified that due to outbreak of pandemic COVID – 19 virus, there is severe disruption in the normal working of almost all sectors of economy and many people are not able to submit Form 15G and 15H to bank even though they are not liable to pay any tax during the year because of which bank might deduct TDS on income in first quarter.
Therefore to mitigate genuine hardship to taxpayers CBDT has extended the validity of Form 15G and 15H submitted by assessee for FY 2019-20. However any institution who is not deducting TDS based on such forms will have to reiterate the same in their TDS return for quarter ending 30.06.2020.
Therefore this relief is only available to person who had submitted Form 15G and 15H in FY 2019-20 and not to everyone.
You can read the order HERE.
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