Whether issue Form 15G for non deduction of TDS should be signed by any Income Tax authorities?

[Guest]

When we issue Form 15G for non deduction of TDS, should it be signed by any Income Tax authorities? or simply fill up Form 15G and issue to to the deductor

[Guest]

The deductee has to just fill up the form and issue it to deductor in duplicate. Later on One copy of form is forwarded to Commissioner/chief commissioner of income tax by the deductor.However if the information furnished in form is found to be incorrect,it is punishable with fine and even imprisonment as per sec.277 of the income tax Act.

AI Summary

Form 15G must be submitted by the payee to the deductor; false information attracts penal consequences under tax law. Form 15G is to be filled by the deductee and issued in duplicate to the deductor; no prior signature by income tax authorities is required. The deductor forwards one copy of the form to the Commissioner/Chief Commissioner of Income Tax. Incorrect information in Form 15G attracts penal consequences under the income tax law, including fines and imprisonment.