SME Times News Bureau | 04 Apr, 2020
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.
