BANKS WILL NOT ACCEPT FORM 15H FROM APRIL 2016
Today when I visited State Bank of India to submit Form 15H, I was informed that Bank will not accept it from next financial year and Tax will be deducted. It appears that Government has decided to make the life of Senior Citizens still more difficult. Now you will have to file Income tax return to get the Refund of tax deducted even if your total income is less than Income Exempt from Tax. This will increase the number of IT Returns and may open another avenue for corruption by IT Officers who may delay the refund. The banks will be required to issue 4 TDS Certificates of 2 Pages for every Term Deposit Account where interest is paid every quarter. Imagine the quantity of Papers required running in to hundreds of Tonnes which will further harm the environment as more trees would be cut. It would be additional work and cost for banks.
I request all Local Circle members to oppose this draconian measure for harassing Senior Citizens so that it is nipped in the bud.
I also request Local Circle Coordinator to kindly bring this matter to the attention of concerned Ministry. more
Today when I visited State Bank of India to submit Form 15H, I was informed that Bank will not accept it from next financial year and Tax will be deducted. It appears that Government has decided to make the life of Senior Citizens still more difficult. Now you will have to file Income tax return to get the Refund of tax deducted even if your total income is less than Income Exempt from Tax. This will increase the number of IT Returns and may open another avenue for corruption by IT Officers who may delay the refund. The banks will be required to issue 4 TDS Certificates of 2 Pages for every Term Deposit Account where interest is paid every quarter. Imagine the quantity of Papers required running in to hundreds of Tonnes which will further harm the environment as more trees would be cut. It would be additional work and cost for banks.
I request all Local Circle members to oppose this draconian measure for harassing Senior Citizens so that it is nipped in the bud.
I also request Local Circle Coordinator to kindly bring this matter to the attention of concerned Ministry. more
Viewed by 776
View all 194 comments Below 194 comments
Yes me and my friends could submit 15H without any hicuppsin Nasik Maharashtra. Not only SBI but also ICICI, Bank of Baroda etc. Banks did provide the forms in the new format which we found was easier than the former one. Specially the unnecessary details of filling the range and circle and ward of IT office. more
Apr 26
The information is wrong. At least in my case,Four banks have accepted Form 15 H in April. more
Apr 25
But my wife's 15H Form was accepted by SBI, Mayur Vihar Phase III & IDBI NOIDA in April' 2016 more
Apr 24
