Amid the nationwide coronavirus lockdown, the Central Board of Direct Taxes stated that valid Forms 15G and 15H submitted to the banks or other institutions for the 2019-20 financial year would be valid up to 30 June in an order dated 3 April 2020, If you are an SBI customer, you can submit these forms online on the bank’s website.
The forms are filed by people whose income is below the taxable threshold. They are usually submitted by taxpayers to banks and financial institutions in April. Form 15G or Form 15H (for senior citizens) are self-declaration forms to state that his/her income is below the taxable limit. These are submitted to make sure TDS is not deducted on their income.
Here is how you can submit the 15G and 15H forms online on the SBI website:
- Under 'e-services', select 'Submit 15G/H' option.
- Now, Select Form 15G or Form 15H
- Select the Customer Information File (CIF) No and click on Submit.
- After clicking the 'Submit'button, it will take you to a page that will have some already filled information. Fill up the remaining information.
- Confirm the details
(With inputs from Mint)
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