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While Form 15H is most commonly submitted to banks by senior citizens seeking TDS relief on term deposit interest. Similarly, Form 15G is mostly used for the same purpose by HUF and individual tax payers aged less than 60 years. But, these form can be submitted to get TDS relief in some other situations too.

Form 15G and Form 15H are documents that declare your income is below the minimum tax slab for the particular financial year. Citizens aged above 60 years are also exempted from paying TDS on interest earned on fixed deposits if their total income from investments does not exceed Rs. 3,00,000.

FAQs on Forms 15G and 15H Both are self-declaration forms that you have to submit to the bank once you open a fixed deposit. While Form 15G is for those who are below 60 years and come under Hindu Undivided Families (HUF), Form 15H is for everyone who is 60 years and above.

What are Form 15G and Form 15H? FORM 15GFORM 15HTax calculated on your total income is NilTax calculated on your Total Income is NilThe total interest income subject for the year is less than the basic exemption limit of that year, which is Rs.2.5 lakh for financial year 2020-21 (AY 2021-22)2 more rows • 12-Jul-2023

Form 15G and Form 15H are self-declaration forms that an individual submits to the bank requesting not to deduct TDS on interest income as their income is below the basic exemption limit. For this, providing PAN is compulsory. Some banks allow you to submit these forms online through the bank's website.

Form 15H can only be submitted by individuals who have attained the age of 60 years at the time of submission. The estimated tax for the previous year should be zero. The individual should not have paid tax in the previous year because his/her income should be below the taxable amount.

Form 15H for EPF Withdrawal Form 15H for PF withdrawal has to be filled when you withdraw offline. Purpose of form 15H is to request EPFO not to deduct TDS. Such TDS is applicable only if one is withdrawing EPF before completion of 5 years of service and/or amount withdrawn is greater than Rs. 50,000.

If your interest income from all FDs is less than Rs 40,000 in a year, the income is TDS exempt. On the other hand, if your interest income is over Rs 40,000, the TDS would be 10%.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232