Banks are obtaining Form15G/15H in triplicate from the eligible persons and submit one copy to the Income Tax authorities every month after retaining a copy for branch records.
The following is the new procedure for obtention of 15G and 15H.
1.The formats of Form 15G/15H are modified. The new formats are available at banks. The new modified forms are to be obtained with effect from 1st October 2015.
2.Declaration by person claiming receipt of certain incomes without deduction of tax can submit in the New forms 15G/15H in any of the following manners:
In paper form
Electronically after duly verifying through an electronic process in accordance with the procedures, formats and standards.
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