As per the order issued by CBDT, if a person has submitted valid forms (15G and 15H) to banks or any other financial institution for FY 2019-20 then these two forms will be valid up to 30 June 2020 for FY 2021 as well Central Board of Direct Taxes (CBDT) has provided another relief to taxpayers; this time by extending the validity of forms 15G and 15H by three months to June 30 2020.
The extension will prevent banks to deduct TDS on interest income of individuals, HUF or a trust. Forms 15G and 15H are forms that one can submit to the authorities stating that one’s income does not qualify for a tax deduction and can avoid TDS on incomes like interest and rent.