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What are Form 15G and Form 15H?
Updated · CardKhoj Editorial Team
Short answer
Form 15G (for people below 60) and Form 15H (for senior citizens) are self-declarations you give your bank stating that your total income is below the taxable limit, so it should not deduct TDS on interest. Submit them at the start of each financial year. Giving a false declaration is an offence.
Who can submit
- Form 15G: resident individuals below 60 (and HUFs) whose estimated total income — and the tax on it — is nil.
- Form 15H: resident individuals aged 60 or above whose tax on estimated total income is nil after deductions.
How to submit
Most banks let you submit both forms online through net banking. Submit to each bank where you hold deposits, early in April, so no TDS is deducted during the year.
If you miss it
The TDS deducted is not lost — claim it back as a refund when you file your income tax return.
This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.