Form 15G and Form 15H are self-declaration forms you give to a bank or payer so it does not deduct TDS on interest income when your total tax for the year is nil. Form 15G is for residents below 60, and Form 15H is for senior citizens aged 60 and above.

Form 15G and Form 15H

Form 15G and Form 15H are self-declaration forms you give to a bank or payer so it does not deduct TDS on interest income when your total tax for the year is nil. Form 15G is for residents below 60, and Form 15H is for senior citizens aged 60 and above.

What is Form 15G and Form 15H?

Form 15G and Form 15H are self-declarations under Section 197A of the Income Tax Act. You submit them to a bank, post office, company, or other payer so that it does not deduct TDS (usually 10% under Section 194A) on interest income such as fixed deposit or recurring deposit interest. Form 15G is for resident individuals and HUFs below 60 years, and it carries two conditions: the tax calculated on your total income must be nil, and the total interest income must stay within the basic exemption limit. Form 15H is for resident senior citizens aged 60 and above, and it carries only one condition, that the tax on total income works out to nil (the interest amount itself can cross the basic exemption limit). The declaration is valid for one financial year and must be filed afresh each year. A false declaration can attract penalty and prosecution, so file only when you genuinely expect nil tax.

Example

A 65-year-old with ₹1,20,000 of FD interest in FY 2025-26 whose total income stays below the taxable limit can submit Form 15H. Without it, the bank deducts 10% TDS, that is ₹12,000, which she would then claim back as a refund. With Form 15H on file, no TDS is deducted. A 40-year-old in the same position would use Form 15G instead.

How Form 15G and Form 15H is used

At an Indian bank branch or company, an account holder or employee submits Form 15G or 15H at the start of the financial year for FDs, early EPF withdrawals, or other interest payouts. Payroll and finance teams also see Form 15G during PF withdrawals, since EPFO deducts TDS on an early withdrawal unless a valid 15G is on file.

Form 15G and Form 15H FAQs

What is the difference between Form 15G and Form 15H?

Form 15G is for residents below 60 years and needs both nil tax and total interest within the basic exemption limit. Form 15H is for senior citizens aged 60 and above and needs only nil tax, with no cap on the interest amount.

What is the TDS threshold on bank interest for FY 2025-26?

From 1 April 2025, banks deduct 10% TDS once interest crosses ₹50,000 in a year for people below 60 and ₹1,00,000 for senior citizens. Verify these limits against the latest notification, as they change with the Budget.

Can I submit Form 15G for a PF withdrawal?

Yes. If you withdraw EPF before five years of service and the amount exceeds ₹50,000, EPFO deducts TDS unless you submit a valid Form 15G showing that your total income is not taxable.