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Answers
Answer:
what is the question
Explanation:
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Explanation:
The Central Board of Direct Taxes (CBDT) has allowed the Form 15G/Form 15H submitted by taxpayers for FY 2019-20 to remain valid till June 30, 2020 for FY 2020-21. What this means is that investors who are required to submit the Form-15G/Form-15H for lower or nil deduction of tax from their income can submit it in the first week of July 2020 for FY 2020-21.
As per the board's order dated April 3, 2020 posted by the CBDT on its official Twitter handle, "In case if a person had submitted valid Form 15G and Form 15H to the banks or other institutions for F.Y. 2019-20, then these Form 15G and Form 15 H will be valid up to 30.06.2020 for FY 2020-21 also. It is reiterated that the payer who has not deducted tax on the basis of the said Form 15G and Form 15H shall require to report details of such payments/credit in the TDS statement for the quarter ending 30.06.2020 in accordance with the provisions of the rule 31A (4)(vii) of the Income-tax Rules, 1962. "