Submission of 15h/15g by 2nd person when 1st persion died

Prakash (Querist) 13 May 2017 This query is : Resolved
Is it legally viable to submit 15G/15H by 2nd persion of a fixed deposit when 1st person has died.If yes, what is the process of submission of 15g/15h.

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Guest (Expert) 13 May 2017
Forms 15G and 15 H are related to TDS and requesting the bank to not to deduct TDS.The First Person who is No More to be replaced by his Nominee/Legal Heirs Or the FD to be surrendered.Better discuss with your Auditors Or Discuss it With CA Club of this same Forum

Kumar Doab (Expert) 13 May 2017
15H or 15G is to avoid TDS.

The Bank may agree after intimation of death with death certificate is submitted (prefer to submit under proper acknowledgment).

Kumar Doab (Expert) 13 May 2017
Depending upon mandate of operation FD signed with Bank the FD shall be operated if one depositor/holder has died.

The bank’s usually guide in such matters.

Your CA or I Tax counsel can guide you.

Guest (Expert) 13 May 2017
Agree with Experts

Rajendra K Goyal (Expert) 13 May 2017
Can submit provided:

a) Bank has deleted the name of first depositor after receiving proof of death of first depositor.

b) Income of second depositor is not taxable / second person is entitled to get benefit from this facility.

Kumar Doab (Expert) 13 May 2017
It is good to see statement of agreement with experts.

Kumar Doab (Expert) 13 May 2017
Discuss with Bank.
Usually they guide properly.

Or take up with your own tax counsel.

Guest (Expert) 13 May 2017
Not legally valid until the account is converted in to a single account with the name of the 2nd holder by adopting a due process after the death of the first holder of account. Get that done first.

Dr J C Vashista (Expert) 14 May 2017
Well advised by experts, nothing more to add.

Kumar Doab (Expert) 14 May 2017
Thanks for agreeing Dr. J.C.Vashistaji.

Guest (Expert) 14 May 2017
Agree with Experts

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