ACKNOWLEDGEMENT BY RRBS AT THE TIME OF SUBMISSION OF FORM 15-G / 15-H

Notification:- RBI/2012-13/542

Dated: 24/06/2013

RRBs are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962.

However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, RRBs are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints.

Such instances arise because either the forms are misplaced or a track is not kept of forms received in the branches.

The matter has been examined with a view to protect interest of the depositors and for rendering better customer service, RRBs are advised to give an acknowledgment at the time of receipt of Form 15-G/15-H.

This will help in building a system of accountability and customers will not be put to inconvenience due to any omission on part of the banks.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- +91-9873082769 

Website: www.caaga.co.in