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Form 15G and Form 15H are self-declaration forms which can be
submitted to banks and other institutions to avoid Tax deduction at
source (TDS) by banks on fixed and recurring deposit. The post
covers the following:
1. Who is eligible to submit Form 15G and Form 15H?
2. Where can Form 15G/H be used?
3. Step by Step guide to fill the form?
Form 15H?
Form 15H is meant for senior citizens while Form 15G is meant for all other individuals and HUFs.
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Amit Kumar
google.com/+ApnaPlan
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615 followers
Examples:
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The figure below gives some examples to check the eligibility to fill Form 15G and Form 15H.
Highest Interest Rate on Bank
Fixed Deposits (FD) - April 2016
Income Tax Calculator for FY 201617 [AY 2017-18] - Excel Download
Income Tax Calculator for FY 201516 [AY 2016-17] - Excel Download
Highest Interest Rate on Recurring
There are 19 fields to be filled in the Form. I really wonder why Government department makes forms so complicated
and use such technical field names.
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The form refers Assessee everywhere. Assessee refers to the name of the person on whose name the
investment has been done.
Also it mentions Previous Year frequently. This confuses many people. Previous Year means financial year (i.e.
April 1 to March 31)
The numbers below represent field names in the above form
1. Your name as it appears in PAN card
Disclaimer
5. Residential Status Resident Indian or NRI. Only resident Indians are eligible to fill form 15G/H.
6 to 12 Your current address details
13 Your email address
14 Telephone Number (with STD Code) and Mobile No. Fill up both the numbers of whatever you have
15(a). Whether assessed to tax under the Income-tax Act, 1961. Yes or No Mention Yes if you have filed
income tax return in last 6 financial years.
15(b). If yes, latest assessment year for which assessed Mention the latest assessment year in which you filed
your Income Tax return. (Assessment year is one year next to financial year For e.g. For FY 2015-16, the AY would be
2016-17)
Investment
Income Tax
Section
Cut Off
(Rs.)
PAN not
submitted
194A
10,000
10%
20.00%
192A
30,000
10%
34.61%
193
10%
20.00%
Interest on securities
Dividends
Interest other than interest on securities
Others (NCDs, etc)
194
2,500
10%
20.00%
194A
5,000
10%
20.00%
Declaration/Verification
Fill the date, place and Sign on the dotted lines.
Important Points:
1. You need to submit the declaration at the start of every financial year to all the banks,
banks, companies where you
have fixed deposits or recurring deposits.
To conclude:
The Form 15G and Form 15H was revised from October 1, 2015 and has been simplified. Also the reporting to
income tax department has become more robust. You
You must fill these forms and submit to relevant
banks/institutions only if you are eligible. Do not make a false declaration as that might create problems.
Amit Kumar
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Tagged with F o r m 1 5 G
F o r m 1 5 G Sa m p l e
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Form 26AS Verify Before Filing Tax Return
Posted on AUGUST 17, 2015 by AMIT
45 thoughts on How
How to Fill Form 15G and 15H?
15H?
Previous
Olivia
Hi ! Thanks a lot for your clear instructions & suggestions. My questions are as follows :
1) Whether I will calculate the accrued interest or the received interest (for column no. 16) ?
2) Whether I will include my gross salary income in column no. 17 ?
3) Whether the P.Y. will be 2016-17?
Thanks a lot in advance.
Amit
Reply
Olivia
Reply
Olivia
Reply
Manu
Hi Amit,
I am trying to fill the 15G form online through SBI banking, but i dont have the option for generate 15G/H as shown in
this sbi video https://www.youtube.com/watch?v=rSXWaYLdQ6c
https://www.youtube.com/watch?v=rSXWaYLdQ6c..
In your screenchot also there is no such option so please tell me how to get that option or how can i fill the 15G form
online.
Reply
Amit
I checked today and its not working. The link only tells if you have submitted Form 15G/H for a specific
account. At the time of writing this post the link gave a form to fill. I think you might need to contact SBI
customer care or branch for this information.
I searched SBI internet banking and could not find it anywhere!
Previous
Reply
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