Tax · Free tool
Form 15G / 15H Eligibility
If your total income is below the basic exemption, you can submit a self-declaration and avoid the bank's 10% TDS on FD interest. 15G for under-60, 15H for senior citizens (60+).
Eligible to submit Form 15H.
How the eligibility test works
Section 197A allows you to skip TDS on interest income if your total estimated income for the year is below the basic exemption limit (₹2.5L under-60, ₹3L senior, ₹5L super-senior). Form 15G is for residents under 60 and HUFs; Form 15H is for senior citizens. Both are self-declarations — submit one per bank, per financial year, ideally in April.
Worked example
A 65-year-old retiree with ₹3.5 lakh FD interest and ₹50,000 pension has total income ₹4 lakh — below the ₹3 lakh exemption only after the ₹50,000 standard deduction and ₹50,000 section 80TTB. Eligible for Form 15H, saves ₹35,000 TDS (10% × ₹3.5L). A 35-year-old with ₹3 lakh interest income is NOT eligible because ₹3L > ₹2.5L basic exemption — the bank deducts ₹30,000 TDS.
When to use this
- Pensioner whose only income is FD interest and pension below the slab
- Homemaker or non-earning spouse with FDs in their name
- Student over 18 with parental gift FDs
- Anyone whose interest income exceeds ₹40,000 (₹50,000 for seniors) at one bank
If you cross the limit mid-year, file ITR-1 to claim the TDS refund. Filing a false 15G/15H attracts penalty under section 277.
FAQ
Where do I submit Form 15G / 15H?
Directly to the deductor (bank, EPF office, post office) at the start of each FY. Most banks accept it digitally via net banking. One form per institution per FY.
Can I submit a wrong 15G to avoid TDS?
No. Under section 277, false declarations are punishable with imprisonment. The IT department reconciles via your AIS — false claims trigger penalties and tax notices.
Does 15G / 15H cover dividends and rent too?
Form 15G can be used for dividends > ₹5,000 (under 194). Not applicable for rent (194-IB doesn't accept 15G/H). For other 26AS items, check the specific TDS section.