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

Learn 15G and 15H form filling correctly for various bank’s fixed deposit like SBI, Syndicate Bank, BOB, HDFC, ICICI, Bank of India, Canara Bank etc. : 15G 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 depositunder       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
24 Comments
  1. i am 66 years old my total income is 346594 minus 50000 union tax fd for 5 years, how much I will have to pay tax?

  2. If I submit 15 h on 29th April 2013 for existing FDs and then open new FDs in May 2013 will I have to submit form again

  3. Suppose todays data is 20th April, 2013. I have FD done in Julky 2012 for 2 years. So what should I write in the blanks below of form 15H.

    4. that the tax on my estimated total income, including *income/incomes referred to in the Schedule below

    computed in accordance with the provisions of the Income-tax Act, 1961, for the previous year ending ……….

    on relevant to the assessment year ………… will be nil;

    • No need to mention anything there….Just provide the details like your PAN number , Assessment year and Details of FD. Sign the form and submit it to your bank.

  4. can i know area code for 15g form

  5. If different FD Same name and total interest less then Rs. 10,000/- then 15 g form can fill up or not

1 2 3

Leave a reply

Digital Banking FAQs & Helpdesk