"datePublished": "2026-03-12", "dateModified": "2026-03-13"

20 Mar 2026

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Key Takeaways

Form 15G and Form 15H allow eligible taxpayers to avoid TDS on interest income when their final tax liability for the year is zero.

Form 15G is for resident individuals below 60 years and HUFs, while Form 15H is for resident senior citizens aged 60 years and above.

Your total tax payable after deductions and rebates must be nil to submit these forms.

File the form at the start of the financial year or before the first interest credit to prevent TDS deduction.

If you earn interest from fixed or recurring deposits or savings accounts, TDS may be deducted even when your income is below the taxable limit. Form 15G and Form 15H help eligible individuals avoid this by declaring that their total tax liability is zero. These forms are submitted to your bank or financial institution, usually online or at the branch, to prevent unnecessary deductions and refund delays.What Are Form 15G and Form 15H?The Form 15G and Form 15H are declarations under Section 197A of the Income Tax Act, 1961. These forms are submitted to request exemption from Tax Deducted at Source (TDS) on interest income from fixed deposits, recurring deposits, savings account interest, EPF withdrawals, or dividend income is below the taxable limit.What Is Form 15G?Form 15G allows taxpayers to claim exemption from TDS on incomes from fixed deposits, recurring deposits, or EPF withdrawals. This is only claimable if their total income falls below the taxable income threshold.Eligibility ConditionsTo qualify for exemption under Form 15G, the applicant must meet the following criteria:

The taxpayers must be below 60 years of age or HUF (no companies, firms, or trusts).

Must hold Indian resident status (NRIs ineligible).

PAN is a mandatory requirement when submitting this form.

The tax liability should be nil and below exemption (INR 2.5 lakh in old regime, INR 3 lakh for new regime). However, due to rebate provisions, tax liability can become nil up to INR 5 lakh (old regime) and INR 7 lakh (new regime).

What Is Form 15H?Form 15H enables senior citizens to claim exemption TDS on interest income under Section 197(1C) of the Income Tax Act, 1961. This can be claimed if the estimated annual income is below the basic exemption limit.Eligibility ConditionsThe criteria for Form 15H under Section 197A (1C) to claim TDS exemption are:

The Indian resident individual should be aged 60 years or above (senior citizens 60-79, super seniors 80+).

Valid PAN is mandatory when submitting Form 15H.

The total estimated taxable income after deductions and rebates must result in zero tax liability.

Key Differences Between Form 15G and Form 15HBoth of the forms are useful in preventing TDS when your final tax liability is zero, but they have a few differences.

Basis	Form 15G	Form 15H
Who it is for	Individuals below 60 years and HUFs	Senior citizens above 60 years
Income condition	Total income must remain within the basic exemption limit	No specific income limit if tax liability is zero
Ease of eligibility	Strict due to income limit	Less strict and easier to qualify
Common users	Salaried persons and young depositors	Retired persons with interest income

When Can You Use Form 15G and Form 15H?You can submit Form 15G or Form 15H to avoid TDS on interest income, but only if you meet certain eligibility requirements.When Can You Use Form 15GIf you are under the age of 60 or an HUF, and your total income is below the basic exemption limit. The deduction using Form 15G will apply to incomes from the following sources:

Bank fixed deposit interest

Recurring deposit interest

Savings account interest

EPF withdrawal (before 5 years)

Corporate bond interest

Dividend income

When Can You Use Form 15HForm 15H can only be used by senior citizens who are aged 60 years or older. This form is generally used for those taxpayers who rely on interest income and their final tax liability is nil, even if the total income exceeds the exemption limit due to deductions and rebates.When Should You Submit Form 15G or Form 15H?You should submit Form 15G or Form 15H before TDS is deducted on your interest income. Submitting at the right time helps ensure that banks or financial institutions do not deduct tax unnecessarily.At the Beginning of the Financial YearIdeally submit the form in April so that TDS is not deducted from the first interest credit.When Starting a New InvestmentSubmit the form when opening a new fixed deposit, recurring deposit, or any new interest-earning account.When You Add Another Interest SourceIf you invest with another bank or financial institution during the year, you must submit a separate form there.How to Fill Form 15G and Form 15HBoth forms follow a similar format when it comes to submission. Here is a step-by-step guide:Step 1: Obtain the forms from the Income Tax Department website or from your bank’s website.Step 2: fill the details of Part -1 of the form (Declarant Section)

Enter your name, residential status, date of birth, and PAN number (mandatory to avoid 20% TDS).

Provide your complete address, email, and mobile number.

Mention the current financial year for which you are submitting the form.

If your income was taxable in any of the last 6 assessment years tick “Yes” for previous tax assessment and specify the latest year.

Mention the estimated income from the specific sources (e.g., FD interest or EPF withdrawal) for which the form is filed. You also have to specify the estimated total income from all sources (salary, rent, interest, etc) for the entire financial year.

Provide the Identification Number (e.g., FD account number), Nature of Income (e.g., interest), and the Section under which tax is deductible (e.g., 194A for bank interest).

Sign the declaration confirming that your total income is below the taxable limit for the year.

Step 3: Submit the completed form to the bank, post office, company, or financial institution paying the interest income. Many banks also allow online submission through net banking.Step 4: Always retain a copy or acknowledgement of submission for your records. This helps in case of disputes or if TDS is deducted by mistake.Open a DBS Bank Account NowLatest Updates on Form 15G and Form 15H (Budget 2026)Budget 2026 introduced a centralised filing system to make the process of forms submission more simple. The government has proposed a centralised submission process through depositories like NSDL and CDSL.Under this system:

Investors will be able to submit one Form 15G or Form 15H through their Demat account.

The depository will automatically share the declaration with all companies paying dividends or bond interest.

This change is expected to be implemented from April 1, 2027.Important Points to RememberBefore filing Form 15G and Form 15H, it is essential to remember the following important rules to avoid rejection, incorrect submission, or unnecessary TDS deduction.

Submit every year: Form 15G and Form 15H are applicable for only one financial year and need to be submitted every year.

Give correct income estimates: You are required to give a correct statement of your total estimated income. Incorrect statements may attract penalties.

PAN is mandatory: Without giving your PAN, TDS may be deducted at a higher rate of 20 percent.

Only for residents: These forms can only be submitted by resident individuals (and HUFs in the case of Form 15G). NRIs are not eligible.

Nil tax liability is essential: You can submit these forms only if your final tax liability for the year is zero after deductions and rebates.

Submit before interest credit: It is always better to submit the form at the beginning of the financial year or before the first interest payment to avoid TDS deduction.

Separate submission for each institution: You need to submit the form separately to each bank or financial institution where you earn interest income.

Keep proof of submission: It is always better to keep an acknowledgement copy or confirmation.

How to Check the Status of Your Filing?After submitting Form 15G or Form 15H, you can verify its status through a few simple methods:

Check with your bank or institution: Log in to net banking or contact the branch where you submitted the form to confirm whether it has been processed.

Review your TDS details: Check your Form 26AS or Annual Information Statement (AIS) to see if TDS has been deducted on your interest income. If no TDS appears, your form has likely been accepted.

Keep acknowledgement proof: If you submitted the form online, you could track the status using the confirmation reference number provided at submission.

If TDS is still deducted despite filing the form, you can claim a refund while filing your income tax return.ConclusionForm 15G and Form 15H are simple yet effective tools to prevent unnecessary TDS on interest income when your final tax liability is zero. By understanding the eligibility rules, submitting the forms on time, and declaring accurate income details, you can maintain better cash flow and avoid the hassle of claiming refunds later.If you regularly earn interest from deposits, it also helps to manage your savings through a reliable banking platform. You can consider opening a savings account with DBS Bank to conveniently track interest earnings, manage deposits, and open digital account options with a fully online process.Open a DBS Bank Account Now