I-T dept extends deadline for filing TDS exemption forms amid lockdown

The Income Tax Department has allowed individuals to submit Form 15G and 15H for the current fiscal after June 30 for claiming exemption from TDS on interest income to mitigate the hardship of people amid the Covid-19 crisis.

Forms 15G and 15H are filed by persons whose incomes are below the taxable threshold, to seek exemption from TDS on interest income.

These forms are usually submitted by taxpayers to banks and financial institutions in April.

In an order, the Central Board of Direct Taxes (CBDT) said the 15G and 15H forms submitted last fiscal will remain valid till June 30, 2020, since the