Here’s how to submit form
15G & 15H
to avoid TDS on interest income
Form 15G and 15H is submitted to cut back the tax you pay on interest income that you receive from Fixed Deposits, Recurring Deposits or Company Deposits
You can submit form 15G or 15H only if:

⚹  You are an Indian resident or Hindu Undivided Families (HUFs).

⚹  Your tax on total income is nil

⚹  Your aggregate interest income for the year is below the basic exemption limit

Form 15G/15H should be submitted every year, preferably at the beginning of the financial year. A separate form has to be submitted at each bank from which interest income is expected.

Refer to your bank’s internet banking to log in with our customer ID. Usually, Form 15G and 15H are found under the ‘deposits’ section.

1

Your name as on your IT assessment

2

PAN card Details

3

Your status will be as an individual applicant

4

Previous year will be the same as the financial year for which you seek exemption

5

Residential status will be resident Indian

6-14

Your current address, email, and contact details

15(a)

Mark ‘yes’ if you have filed your IT Returns (ITR) in the previous six years, else ‘no’

15(b)

If answer to 15(a) is ‘yes’, mention the recent assessment year in which you filed your ITR

15-17

Estimated interest income expected from the total deposits and Estimated total income for the present financial year

18

In case you have filed Form 15G/15H previously, furnish details of the total number of forms and the cumulative amount for which the forms were submitted

19

Sub-divided into four sections:

  • - SI number will be specific to your bank
  • - Identification number is the relevant deposit number
  • - Section for tax deduction will depend on the type of investment
  • - Amount of income will be the same as point 16