Circular No.18/2016
F.No 142/32/2015-TPL
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
(TPL Division)
Dated: 23rd May, 2016
Sub: Relaxation for Furnishing of UID in case of Form 15G/15H for certain quarters – reg
The
existing provisions of section 197A of the Income-tax Act, 1961(‘the
Act’) inter alia provide that tax shall not be deducted, if the
recipient of certain payment on which tax is deductible furnishes to the
payer a self-declaration in Form No.15G/ 15H in accordance with
provisions of the said section. The manner of filing such declarations
and the particulars have been laid down in Rule 29C of the Income-tax
Rules, 1962 (‘the Rules’).
The
amended Rule 29C which comes into effect from 1st October, 2015 in
addition to paper filing, also provides for online filing of
self-declaration for non-deduction of tax under section 197A of the Act.
In this regard, Notification No.76/2015 dated 29.09.2015 has been
issued for E-enablement & simplification of procedure for filing
self-declaration (Form No.15G/15H) and furnishing of such declaration to
the Income-tax Department. Further, as per sub-rule (7) and (8) of rule
29C of the Rules notified vide aforesaid notification, the Pr. DGIT
(Systems) is required to specify the procedures, formats and standards
for the purposes of furnishing and verification of the declaration and
allotment of unique identification number. In pursuance of the same, Pr.
DGIT (Systems) has issued Notification No. 4/2015 dated 1st December,
2015 to notify the procedure, formats and standards.
Sub-rule
(3) of Rule 29C provides for allotment of Unique identification number
to each declaration received in Form 15G/15G by the deductor. Further,
sub-rule (5) of Rule 29C provides that the payer shall also furnish
unique identification number along with the details of the transactions
covered under Form 15G/15H in quarterly TDS statements
in accordance with the provisions of clause (vii) of sub-rule (4) of
Rule 31A irrespective of the fact that no tax has been deducted in the
said quarter.
Representations
have been received that due to operational constraints, the Form
15G/15H and the details thereof could not be included in the quarterly
statement for the quarter ending 31.12.2015 and 31.3.2016 respectively.
Taking
into account the concerns of the stakeholders, the Central Board of
Direct Taxes, hereby relaxes the condition of furnishing of Unique
identification number allotted by the deductor for the quarter ending
31.12.2015 and 31.3.2016 in the quarterly statement of deduction of tax
in accordance with sub-rule (5) of Rule 29C.
(Lakshmi Narayanan)
Under Secretary TPL-III
CBDT