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Our article What is Form 15G? What is Form 15H? talked about the form 15G or 15H which is to be  submitted to request income provider for not deducting tax or TDS for prescribed income. For example, From 1 June 2015, people who are withdrawing EPF before 5 years of service are required to fill Form 15G. If an employee has rendered service for less than 5 years and has accumulated balance is more than or equal to Rs. 50000, he is required to submit form 15G or 15H along with PAN card to avoid TDS. Otherwise, TDS will be deducted at 10% (if PAN is given) and 20% if PAN is not given.  This article explains how to fill Form 15G and how to fill 15H? What information has to be provided in various schedules and how to find information for filling Form 15G or 15H.

How to save TDS deduction? Fill Form 15G and 15H

What is TDS on Income?

TDS or Tax Deducted at Source, is one of the modes of the collection of taxes, by which a certain percentage is deducted at the time of payments of various kind such as  salary, commission, rent,  interest on dividends etc and deducted amount is remitted to the Government account.  This withheld amount can be adjusted against tax due.  Our article TDS, Form 26AS and TRACE explains TDS in detail

What is Form 15G of Income Tax? What is Form 15H of Income tax?

Form 15G or 15H is submitted to request income provider for not deducting tax or TDS for prescribed income.

  • These forms can be used only for payments in the nature of Interest of Securities, Dividend, Interest other than Interest on Securities (Bank/Company Deposits) , NSS & Interest on Units. For other types of payments, these forms cannot be used.These days for PF withdrawal one is required to fill Form 15G if one does not want the tax to be deducted.
  • One can submit these forms to bank, post office, company ,EPFO etc
  • These forms have to be filed in duplicate,at times 3 copies, to the payer which can be bank, post office, company . The payer or the institution takes them on record, the entire interest is to be paid to the depositor or  lender without TDS
  • While Form 15G is for Indian residents below 60 years of age, HUFs and trusts, Form 15H is for those above 60.
  • Only resident Indian,HUF and AOP can submit form 15G / form 15H. 

What are conditions to fill Form 15G of Income Tax?What are conditions to fill Form 15H of Income Tax?

Before filling the Form 15G please verify if you meet the conditions. As not everyone fill Form 15G/15H . You need a valid reason to request the bank or financial institution not to deduct TDS. As Notes in the Form 15G or 15H are shown in image below . Click on image to enlarge.

Notes in Form 15G, form 15H

Notes in Form 15G, form 15H

Interest income may be earned from – savings bank account, fixed deposits and recurring deposits,senior citizen saving schemesAs a thumb rule, all interest income from any of these sources must be reported in your income tax return.  Add it under the head  Income from other sources.

The basic conditions for filing 15G are :

  • The final tax on estimated total income computed as per the Income Tax Act should be nil
  • The aggregate of the interest  received during the financial year should not exceed the basic exemption slab of that assessment year ex: 2.5 lakh in AY 2019-20,AY 2018-19

If these criteria are met, you can submit Form 15G and the entire interest income would be credited without any tax cut. Please note that  You need to meet both criteria. Even if the interest income is less than the basic exemption allowed during that financial year, but your total tax liability is not nil, you will not be eligible for filing Form 15G. The reverse is also true. Say your income is Rs 4 lakh, of which Rs 3 lakh is earned as interest from your investments such as FDs in the bank. You might invest Rs 1.5 lakh in PPF and be out of the tax net, but you are not eligible for Form 15G as though your tax liability is zero, the interest income is higher than the basic exemption. The refund route is your only recourse.

Form 15H can be only filed by individuals above 60. This form imposes only the first condition, the final tax on the investor’s estimated total income should be nil. So, if you are above 60, your taxable income for the financial year can be up to Rs 3 lakh for you to be eligible for 15H. For super senior citizens above 80 years, this limit is Rs 5 lakh. Image below shows the cases where Form 15G/15H is not allowed.

Eligibility criteria for filling form 15G

Eligibility criteria for filling form 15G

How to Fill Form 15G? How to Fill Form 15H?

Form 15G and 15H are similar.There is no difference in filling form 15H.  The differences are:

  • While Form 15G is for Indian residents below 60 years of age, HUFs and trusts, Form 15H is for those above 60.
  • For 15G the aggregate of the interest (excluding interest earned on securities) received during the financial year should not exceed the basic exemption slab ex: 2.5 lakh in AY 2015-16,AY 2016-17. Our article Income tax slab rates from AY 1986-87 to  covers the basic exemption limit and tax slabs from AY 1986-87 to current Assessment Year.

Change in Forms From 1 Oct 2015

The Income Tax Department has announced new forms and new procedure regarding Form 15G & Form 15H  starting 1st October 2015. Key Changes

  • Forms have been simplified. Gone are the various schedules like Schedule 1,2 etc
  • Introduction of Electronic mode of filing Form 15G & 15H as an Alternate to Paper Form. No procedural rules has been prescribed as regard to filing of Form 15G. However, It seems Form 15G & 15H can be filed using Internet Banking facility or Similar facility for in case of Other institution which are making payment as provided in Section 197(1) or 197(1A) or 197(1C). –
  • The person responsible for making a payment or the Deductor shall allot a UIN (Unique Identification Number) to each Form 15G and Form 15H received.
  • The Deductor shall mention the particulars of these Form 15G & Form 15H received during any quarter of the financial year along with the unique identification number allotted by him in TDS Quarterly Statements, whether or not any TDS has been deducted by him.
  • The Deductor is no longer required to submit physical copy of Form 15G & Form 15H to the Tax Department.
  • However, these forms must be maintained by the Deductor for a period of 7 years from the end of the financial year in which these are received

How to Fill Form 15G/15H

Let’s start by Filling Form 15G, which is shown in the image below

New Form 15G since 1 Oct 2015

New Form 15G since 1 Oct 2015

  • Field 1, Name: write name as per your PAN.
  • Field 2, PAN: write your PAN number.
  • Field 3, Status: Your income tax status which can be Individual/ Hindu Undivided Family(HUF)/ AOP as applicable to you.
  • Field 4, Previous Year: the year in which you will earn your income for which you want to avoid TDS. So it is the current financial year for which you are filing up the form. If you fill the form between 1 Apr 2018 to 31 Mar 2019 then you have to fill 2018-19.
    The calendar year starts on January 1 and ends on December 31 but a Financial year (FY) is from April 1 to March 31. As per the Income Tax Act, income earned in a financial year (FY) is taxed in the next Financial Year. FY to which the income belongs is called the Previous year (PY) and the FY in which the income is taxed is called the Assessment year (AY). Ex: The income earned from 1st Apr 2018 to 31 Mar 2019 , during FY 2018-19 will be assessed for tax in the 2019-20 after you file tax. Here, FY 2015-16 is called Previous Year and FY 2016-17 is called Assessment Year or AY. Our article Income Tax Overview explains terms associated with Income Tax.
  • Field 5, Residential Status : to be entered ex: Resident Individual. As Form 15G or 15H can be filled only by Resident hence if one satisfies the condition one needs to mention Resident.For income tax purpose residential status of an assessee is classified into, Resident (ordinarily), Resident (not ordinarily),Non resident. Under the Income-tax Law, an individual will be treated as a resident in India for a year if he satisfies any of the following conditions (i.e. may satisfy any one or may satisfy both the conditions):
      • One is in India for a period of 182 days or more in that year; or
      • One is in India for a period of 60 days or more in the year and for a period of 365 days or more in 4 years immediately preceding the relevant year.
  • Field 6,7,8,9,10,11,12, Current Address details.
  • Field 13, Email Id, your email ID
  • Field 14, Telephone number, Phone number both LandLine number with STD code and Mobile No. If you don’t have a Land line just fill Mobile Number.
  • Field 15 (a) , Whether assessed to tax under the Income-tax Act, 1961. Yes or No, Check the appropriate Box.  Mention Yes if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.
  • Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return.
  • Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For exam,ple if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year.
  • Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made
    • Field 18, Details of Form No. 15G other than this form filed during the previous year, if any, In case any declaration(s) in Form No. 15G is filed before filing this declaration during the previous year, mention the total number of such Form No. 15G filed along with the aggregate amount of income for which said declaration(s) have been filed
      Total No. of Form No. 15G filed , How many Form 15G have been filled before the form 15G in this Fina ncial year or Previous Year.
    • Aggregate amount of income for which Form No.15G filed, Total amount of income for which Form 15G have been filled in this year.
  • Field 19. Details of income for which the declaration is filed, Mention the distinctive number of shares, account number of term deposit, recurring deposit,
    National Savings Schemes, life insurance policy number, employee code, etc.

    • Sl. No.
    • Identification number of relevant investment/account, etc.
    • Nature of income
    • Section under which tax is deductible
    • Amount of income
  • Various TDS Rates, sections,cut off rates  are given below
    TDS rates for F.Y. 2015-16 

    Nature of Payment Made To Residents

    Cutoff (Rs.)

    Company / Firm / Co-operative Society / Local Authority

    Individual / HUF

    If No / Invalid PAN

    Section – Description

                           Rate  (%)                                          

    192A-Premature withdrawal from EPF ( wef 01.06.2015)
    Upto 31-05-2016 Rs. 30,000
    w.e.f. 01-06-2016 Rs. 50,000
    NA 10 20
    193 – Interest on securities 10 10 20
    194 – Dividends 2500 10 10 20
    194A – Interest other than interest on securities – Others 5000 10 10 20
    194A – Banks(Time deposits) 10000 10 10 20
    194A – Banks (Recurring deposit)(01.06.15) 10000 10 10 20
    194A – Deposit in Co-op Banks (01.06.15) 10000 10 10 20
    194D-Insurance Commission Upto 31-05-2016 Rs. 20,000
    w.e.f. 01-06-2016 Rs. 15,000
    Up to
    31-05-2016 10%From 01-06-2016 5%

Please remember that two conditions given below need to be satisfied for filling Form 15G .  Details about these need to be filled in Field 22,23 and schedules.

  • The final tax on estimated total income computed as per the Income Tax Act should be nil
  • The aggregate of the interest  received during the financial year should not exceed the basic exemption slab of that assessment year ex: 2.5 lakh in AY 2018-19,AY 2019-20

Estimated total income from sources below: The income from following sources needs to be added:  Interest on securities , Interest on sum other than securities  ( interest on FD etc.), Interest on mutual fund units., withdrawals of NSS. Do sum of the total income from all sources

Declaration/Verification . Fill in the details and place your signature within the given space as Signature of Declarant . Image below shows the information to be submitted for FY 2015-16 or AY 2016-17, when Form 15G/15H is submitted for non deduction of TDS between 1 Apr 2015 – 31 Mar 2016.

New Form 15G Declaration

New Form 15G Declaration

Part II of form 15G/15H  [For use by the person to whom the declaration is furnished]

Don’t fill any thing in part 2. The person whom you are furnishing declaration ( BANK, POST OFFICE ETC.) will fill this part. Don’t fill it

New Form 15G Part 2

New Form 15G Part 2

OTHER IMPORTANT THINGS TO KNOW:

  • Declaration under form 15G/ form 15H is not alternative of income tax return. No matter whether you have given declaration to bank or others for non deduction of TDS, you are required to file income tax return if required in income tax act. Do note that this is not a way to save tax on  income but only a means to prevent TDS deduction on it. It saves you from the hassle of seeking a refund later.
  • Attach PAN card copy with declaration:
  • WHAT TO DO WHEN TDS DEDUCTED THOUGH 15G/ FORM 15H SUBMITTED: If your income payer deducts TDS from income though submission of the above forms, you can file return and claim tds refund as per your tax liability. No need to worry about it. Don’t ask him to refund TDS because he has already deposited it in government department through TDS return.
  • You can download Forms 15G and Form 15H from here 15G and 15H or from Income tax India website http://www.incometaxindia.gov.in/Pages/downloads/most-used-forms.aspx

Download the Form 15G in word format and Form 15H in word format

You can download the forms 15G in word format from New Form 15G

You can download the forms 15H in word format from  New Form 15H

Sample Filled Form 15G for EPF Withdrawal

Sample filled form 15G for Aarti Shukla, who is withdrawing on 7 Jun 2017 , her EPF of Rs 1,30,00 and has 10,000 other income is given below. If you withdraw between 1 Apr 2017 to 31 Mar 2018

  •  then Previous Year or PY( Pt 4 in the Form) is 2017-18 and Assessment AY would be 2018-19.
  • For 15(a) Mention latest Assessment Year for which Income Tax Return has been submitted and processed. If you have filed return for FY 2016-17 or AY 2017-18 last date for which is 31 Jul 2017 mention AY 2017-18.
  • Else mention the last Assessment Year in which your ITR was submitted. For example if You filed return for FY 2015-16 or AY 2016-17 then mention AY 2016-17.
  • In declaration, part Assessment Year would be 2018-19.
Form 15G for EPF Withdrawal

Form 15G for EPF Withdrawal

Sample Filled Form 15H for Senior Citizen for Fixed Deposit

Sample filled Form 15H for Senior Citizen for Fixed Deposit

Sample Filled Form 15H for Senior Citizen for no TDS on Fixed Deposit Interest

Sample Filled Form 15H for Senior Citizen for no TDS on Fixed Deposit Interest

Banks which allow submission of Form 15G & Form 15H Online

Banks like State Bank of Indiaand ICIC Bank allow for online submission of Form 15G & Form 15H.

Generating Form 15G/15H online

Generating Form 15G/15H online

Please note that
• Form 15 G/H will be generated branch- wise.
• In case of Joint Accounts, form 15 G/H will be generated for the first account holder.

The YouTube Video on How to Fill Form 15G/15H online from State Bank of India Tutorials shows how to Submit Form 15H/Form 15G online. This video was published in Sep 2015 before the New Guidelines for Form 15G/15H were introduced. So it shows how to fill the old form

Related Articles:

This article covered How to Fill Form 15G & How to Fill Form 15H. If you have filled Form 15G or Form 15H , please do share your feedback. If you can share the filled form with us then it would be great help for our readers. (Your details will be kept confidential)

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