Seven Years Punishment for Wrong Filling of 15G and 15H Form : Income Tax department has introduced the New 15G and 15H form filling procedure with modified format. There have also been changed the different provision and procedure in newly introduced form including the penalty of false filling of 15G and 15H Form.
Penalty in filling False 15G and 15 H form :
Income Tax had clearly define that any person making a false statement in the 15G/15H declaration shall be liable to prosecution under section 277 of the Income-tax Act, 1961, and on conviction be punishable:
- in 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 up to seven years with fine;
- in any other case, with rigorous imprisonment which shall not be less than three months but which may extend up to three years with fine.
What is New in 15 G and H form ?
There are many new things have been added :
- This is dictated that new 15G and 15H will be filled online by Tax payer. Deductor will be assigned an Unique Identification Number (UIN) as per the procedure by CBDT with self-declarations. The deductor needed to mentioned the both UIN and self-declarations details in the quarterly TDS statements.
- Deductor will be required to retain Form 15G and 15H for seven years.
- Online Submission of 15G and 15H started with 1st October 2015.
DOWNLOAD FORM
| Tax Payer | Income Tax Section | Download Form |
| Individual: Senior Citizen | Sub-section (1C) of section 197A | 15H (pdf) |
| Individual: Non-senior Citizen | Sub-sections (1) and (1A) of section 197A | 15G (pdf) |
