What would happen if I submit incorrect details for the 15G/H declaration?

Any false or wrong declaration attracts prosecution under section 277, which include rigorous imprisonment from 3 months to 7 years. Taxpayer can be penalized with rigorous imprisonment irrespective of fact that such wrong details were furnished intentionally or unintentionally as “Ignorance of Law is no excuse”.

In case you have submitted the same by mistake, you may de-register the same form 15G/H section.