Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

FORM 15G AND 15H

Form 15G (Issued as per Rule 29C, this is the declaration under Sub-sections (1) and (1A) of Section 197A of Income Tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax)

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Form 15H (Issued as per Rule 29C(1A), this is the declaration under Sub-section (1C) of Section 197A of Income Tax Act, 1961, to be made by an individual who is of the age of sixty-five years or more claiming certain receipts without deduction of tax)

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