In the landscape of income tax regulations, Form No. 15H stands as a critical tool for individuals aged sixty-five years or older, enabling them to claim receipts without the deduction of tax at source. The form serves as a declaration under subsection (1C) of section 197A of the Income-tax Act, 1961, affirming that the declarant owns certain shares, securities, or sums, and that the income derived from these is not taxable under the total income of another person according to sections 60 to 64 of the said Act. The imperative details required include descriptions and particulars of investments or accounts, anticipated income, present occupation, and age-related entitlements to deductions. Furthermore, the declaration emphasizes the declarant's tax status, including any past assessments or the lack thereof, and residency in India for tax purposes. By completing this declaration, individuals assert that their estimated total income, including the incomes specified in the declaration, will not attract tax for the given financial year, thereby entitling them to receive certain incomes without tax being deducted at the source. The form also includes a stern warning about the consequences of furnishing false information, outlining the penal provisions under section 277 of the Income-tax Act, 1961, which ensure the gravity with which declarations must be made. This mechanism not only alleviates the tax burden for senior citizens but also streamlines the process of income declaration and tax computation for both the declarant and the income-paying entities.
| Question | Answer |
|---|---|
| Form Name | From No 15G Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | sample of 15g see rule 29c form filled, lakh, 15H, how to fill form no 15g section 197a 1a and rule29c |
FORM NO. 15H
[See rule 29C(1A)]
Declaration under
I, ______________________________________________________________________ *son/daughter/wife of
_______________________________________ resident of ______________________ @ do hereby declare-
1.*that the shares/securities/sums, particulars of which are given in the Schedule below, stand in my name and are beneficially owned by me, and the dividend/interest in respect of such *securities/sums and/or income in respect of units is/are not includible in the total income of any other person under sections 60 to 64 of the
OR
*that the particulars of my account under the National Savings Scheme and the amount of withdrawal are as per the Schedule below:
SCHEDULE
Description and details of investment
Amount invested
Date of *investment/opening of
account
Estimated income to be
received
2.that my present occupation is ______________________ ;
3.that I am of the age of _________ years and am entitled to a deduction from the amount of
4.that the tax on my estimated total income, including *income/incomes referred to in the Schedule below computed in accordance with the provisions of the
5.that I have not been assessed to
OR
that I was last assessed to
____________________Circle/Ward and the Permanent Account Number allotted to me is ______________ ;
6.that I *am/am not resident in India within the meaning of section 6 of the
________________________________
Signature of the declarant
|
Verification |
I __________________ do hereby declare that to the best of my knowledge and belief what is stated above is |
|
correct, complete and is truly stated. |
|
Verified today, the ________________ day of |
|
|
________________________________ |
Place __________ |
Signature of the declarant |
Notes :
1.@ Give complete postal address.
2.The declaration should be furnished in duplicate.
3.*Delete whichever is not applicable.
PRINTED FROM WWW.TAXMANN.COM
4.Before signing the verification, the declarant should satisfy himself that the information furnished in the declaration is true, correct and complete in all respects. Any person making a false statement in the declaration shall be liable to prosecution under section 277 of the
(i)in a case where tax sought to be evaded exceeds one lakh rupees, with rigorous imprisonment which shall not be less than six months but which may extend to seven years and with fine;
(ii)in any other case, with rigorous imprisonment which shall not be less than three months but which may extend to three years and with fine.
PART II
[FOR USE BY THE PERSON TO WHOM THE DECLARATION IS FURNISHED]
1.Name and address of the person responsible for paying the income, mentioned in paragraph 1 of the declaration
2.Date on which the declaration was furnished by the declarant
3.Date of *declaration, distribution or payment of
dividend/withdrawal |
from |
account |
number |
under the National Savings Scheme. |
|
||
4.Period in respect of which *dividend has been declared/interest is being credited or paid/income in respect of units is being credited or paid
5.Amount of *dividend/interest or income in respect of units/withdrawal from National Saving Scheme Account
6.*Rate at which interest or income in respect of units, as the case may be, is credited/paid
Forwarded to the Chief Commissioner or Commissioner of
Place ___________ |
______________________________________________ |
Date ____________ |
Signature of the person responsible for paying the income |
|
referred to in Paragraph 1 |
PRINTED FROM WWW.TAXMANN.COM