Simplifications of procedure For Form 15G/15H Applicable from October 2015

Tax payers seeking non deduction of tax from certain incomes are required to file a self declaration in Form No. 15G or Form No.15H as per the provisions of Section 197A of the Income-tax Act, 1961

In simple terms persons who don't want TDS to be deducted from their interest income has to 

fill up and submit form 15G/15H to the concerned Bank/Finance Institution. If you do not 

submit, TDS @ 10% will be deducted every three Months from your Interest Income for that

 period and only balance amount will be paid to the person.

Under the simplified procedure, a payee can submit the self-declaration either in paper form or electronically. The deductor will not deduct tax and will allot a Unique Identification Number (UIN) to all self-declarations in accordance with a well laid down procedure to be specified separately. The particulars of selfdeclarations will have to be furnished by the deductor along with UIN in the
quarterly TDS statements.

In simple, the procedure to submit form 15G/15H been simplified. Now you have option to submit the same in paper form or electronic form to the BANKS/INSTITUTIONS by self declaration. After doing so, the deductor will not deduct TDS from your interest income and will allot UIN ( Unique Identification Number) to you. As individual your work ends here.

Points to be noted by Deductor.

1. The Deductor has to furnish UIN( Unique Identification Number) allotted to all self declarants in Quarterly TDS Return Filliled by the deductor.

2. Submitting Physical copies of collected form 15H/15G has been eliminated. So Deductor now onwards not required to submit the Hard Copies of Form 15G/H to the Department.

3. All the collected self declarations must be stored by the deductor for the period of 7 years from the collection date.

The revised procedure shall be effective from the 1st day of October, 2015.

The Notification issued vide S.O. No.2663(E) dated 29th September 2015

Meet the youngest Chartered accountant, just 19 years of age

Chartered accountants have become immobile Naraynm country's youth. Retainers are just 19 years old. Nisclne just 9 years old his father devised the company's balance sheet manipulation. Since then, it is decided that it is rich of extraordinary ability retainers. Mathematics genius known as the guileless.

Innocently at the age of just 19 years ICAI (Institute of Chartered Accountants of India, The) have passed the test but its members as ICAI to associate and will have to wait two years because of ICAI to associate any member at least 21 years of age should be. Only then would be authorized to sign the balance sheet retainers.

CA has recently passed innocently. Being told that the youngest innocently passed the test of the country is considered one of the toughest exams. The mathematics genius has the distinction of guileless. They have made their mark in mathematics and as a winner in several international competitions have brought laurels to the country.

Guileless youngest double world record holder in Guinness' titles have achieved. The youngest World Memory Champion, he won the respect has proved itself. Seven Brilliant Brains of the World (National Champion recognized by), he won the competition. Osmania University as well as the youngest graduate in B.Com and M.Com, he made history.

November 24, 2014 - No comments

    

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ADLABS IMAGICA

Planning a family trip to Mumbai this year? Then, you must visit Adlabs Imagica, a theme park near the city ofKhopoli on Mumbai-Pune expressway, India. It is modeled on the lines of Universal Studios. Tourists and families can enjoy 21 themed rides which include India’s largest coaster ride with 4D stimulation rides.

It has also five themed restaurants that serve unique and delicious food. Accommodating thousands of people annually, the star attraction is a ride based on the Bollywood film Mr. India, India’s biggest floor-less roller coaster, and a 300-room hotel and water park.

Highlights:Rides

• Happy Wheels
• Humpty’s Fall
• Wagon O-O Wheel
• The Detective Bow Wow Show
• Zooballoo
• Rajasaurus River Adventure
• Salimgarh
• Alibaba Aur Chalis Chorr and many more

Restaurants :

ZEZE Bar+Grill

Roberto’s Food Coaster

Arrmada Tapas

TGIF

Location: Khopoli, halfway Between Mumbai and Pune, just off the Mumbai-Pune Expressway.

Ticket Price: Prices start from 1,500 rupees for an adult and 1,200 rupees for a child during the week. Packages are offered including transport in Volvo buses.

Open: Daily, 11 a.m. until 9 p.m

For more information, click here: HTTP://www.adlabsimagica.com