Centre extends validity of Forms 15G, 15H till June 30

A senior official of the All India Bank Employees' Association (AIBEA) said the union had taken up the matter with the Central Board of Direct Taxes (CBDT) as several bank retirees and pensioners had contacted it for getting extension of time since it was difficult for the aged to go to the bank branches during the lockdown.

Chennai:The Central government has extended the validity of Forms 15G and 15H submitted by fixed deposit holders during fiscal 2019-20, till June 30, a senior official of the All India Bank Employees' Association (AIBEA) said on Saturday.

He said the union had taken up the matter with the Central Board of Direct Taxes (CBDT) as several bank retirees and pensioners had contacted it for getting extension of time since it was difficult for the aged to go to the bank branches during the lockdown.

The two forms are submitted to prevent deduction of tax at source by banks and other institutions.

According to C.H.Venkatachalam, General Secretary, CBDT on Friday issued a circular clarifying that the earlier Form 15G and 15H given to the banks for the Financial Year 2019-20 will be valid up to June 30.

He said the clarification is applicable for all depositors of banks and other institutions.

Venkatachalam also urged the Central Government to grant special leave to bankers who develop Covid-19 symptoms and have been advised quarantine (14 days leave) or if a banker contracts Covid-19 disease while on duty then the period of hospitalisation to be treated as special leave.

He also asked the government to advise banks to go in for comprehensive group insurance cover against risk to health and life for Rs 50 lakh for the next three months for their employees.

(PTI Report)