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of <h1>CBDT Extends Validity of Forms 15G & 15H Until June 30, 2020, Due to COVID-19 Impact u/s 119.</h1> The Central Board of Direct Taxes (CBDT) issued an order under Section 119 of the Income Tax Act, 1961, due to the COVID-19 pandemic's impact on economic sectors, including banks. Recognizing potential delays in submitting Forms 15G and 15H, which prevent unnecessary tax deduction at source (TDS) for individuals with no tax liability, the CBDT extended the validity of these forms submitted for the financial year 2019-20 to remain valid until June 30, 2020, for the financial year 2020-21. Banks and institutions must report such non-deducted TDS details in their quarterly statements as per rule 31A(4)(viii) of the Income-tax Rules, 1962.
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