Home / How To Tutorial / Banking / How To Fill 15G/15H Form Correctly in Banks To Save TDS ?

How To Fill 15G/15H Form Correctly in Banks To Save TDS ?

15G form : This is the form which is filled by any individual below the age of 65 Years as per the declaration under Sub-section (1) and (1) A of section 197A of the Income Tax Act 1961 claiming certain receipts without deduction of Tax. 

This is to remember that Company or Firm is not authorized to submit this form under any circumstances and they are liable to tax deductions.

 15 H Form: This is the form which is filled by any individual above the age of 65 Years as per the declaration under Sub-section (1) C of section 197A of the Income Tax Act 1961 claiming certain receipts without deduction of Tax..

READ : HOW TO AVOID TDS ON FIXED DEPOSITS ?

 THINGS TO REMEMBER BEFORE FILLING THE 15G/15H FORM 

  1. Company, Current Account holders or firm are not authorized to fill these forms 
  1. Individual whose income are taxable or who have made the Fixed deposit

    under       Tax shield products cannot fill this form

  2. Deposits held by minor’s accounts are also subject to TDS. TDS will be reflected to the account of custodian of the account.
  3. Slab of Rs 10000/- TDS on FD interest is subject to one bank only, if Individual have had 10 FD in different bank he can enjoy the TDS benefit up to Rs 10000/- in all the ten banks.
  4. All the FD opened in one bank with same name will be added to each other for TDS calculation. i.e. if you have opened 20 FD of  different amount with same name than all the FD’s are clubbed together for TDS calculation and it will be deducted on the Total interest accrued by all the FD’s 
Calculate Your Fixed Deposit Interest : FD Calculators

About raj

A Banker By Profession.This blog was started to help individuals from complicated financial and Banking requirements.

24 comments

  1. nilesh Lunagaria

    SBI has deducted the tds of Rs. 2000 for fy 2013-14. how can i reimburse the same.

  2. HI,
    Myself Baljeet Yadav I have saving Account in a bank and my yearly salary is Rs 108000/-. My mother just a deal a village land of Rs. 650000 and made pepper of Rs 2lacks and remaining amount taken without proof ,this all amount I deposit in bank A/c . That 2lacks we invest in Fix Deposited and 4lacks given someone for use and 50thousand spend in personal use.
    So my query have I pay to tax or not…? If yes then how much amount approximately

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>