April 2, 2016

New 15G & 15H Forms Rules-Bankers should know !

New 15G & 15H Forms Rules-Bankers should know!

The new rules has been effective from 1st October 2015. 

Key Changes regarding 15G & 15H Forms

  • UIN (Unique Identification Number ) would be allotted to each Form 15G & 15H received by customers.
  • Now, no physical copy of form 15G & 15H to the tax department. It means in case of banks, banker has no need to submit these 15G & 15H collected from the customers to the Tax Department. 
  • But, these forms must be maintained for 7 years from the end of the financial year in which these have received. It means that if customers submit 15G & 15H forms in the month of April-2016 then banker has to maintain forms at least up to  April-2025.
You can download new 15G and 15H forms  Download 15G & 15H Forms
Also Read: