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Time limits for filing forms

No time limit is prescribed for filing From 15G or 15H to avoid TDS. It is reasonable to presume that it should be filed within time for the deductor to act on it, so that it should be filed well before the due date on which payment becomes due.

Some of the banks accept such declarations even at the time of deposit, but that could be valid only for the year of deposit, because it is an annual form to be filed every year. It is not unusual for some others to ask for such declarations at the beginning of each financial year. It does happen such declaration, though filed in time, are not acted upon. In such a case, the only course for the taxpayer is to file return in due course and get refund for the tax so deducted.

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