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ABCAUS Excel for Chartered Accountants
ABCAUS Excel Form 15G

Excel for
Chartered Accountants

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Form 15H is a declaration under sub section (1C) of section 197A of the Income Tax Act, 1961 which can be given by an individual who is of the age of 60 years or more (at any time during the previous year) to the person responsible for payment of certain income, without deduction of tax at source. In other words, this is a declaration for receiving certain incomes without TDS (tax deducted at source).

The type of income(s) for which this declaration can be given is as under:
1. Dividends - Section 194
2. Payments in respect of deposits under National Saving Scheme, etc. - Section 194EE
3. Interest on Securities - Section 193
4. Interest other than interest on securities - Section 194A
5. Income in respect of units of Mutual Funds, UTI - Section 194K

The important point to note is that unlike form 15G, if the income from the above mentioned income sources exceeds the maximum amount which is not chargeable to tax , the declaration in form 15H can still be given.

In other words, if for AY 2013-14, income from above listed sources exceed Rs. 2.50 lacs (Age 60 years or more) or 5.00 lacs (Age 80 years or more) which is the maximum amount not chargeable to tax, this declaration can be given if the estimated tax is Nil.

The declaration is required to be given in duplicate before the payment is made or credited whichever is earlier.

In case a false declaration is given in form 15H, which the declarant either knows or believes to be false, or does not believe to be true, the declarant, under section 277 is punishable with imprisonment which can be up to seven years and with fine .

ABCAUS Excel based form 15H is very simple ,speedy and useful for professionals and individual users also. The user is required to build a database to avoid repetitive entries for second time. After creating database, Part-I can be completed in just one click. Rest of field marked with grey colour should only be filled. Extra number of rows can be inserted wherever needed.

Macros must be enabled to use it. Built in Help section has also been provided for instant use.



 

 

 

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