form 15g how to fill

form 15g how to fill - Banks have to deduct TDS when your interest income is more than Rs.40,000 in a year for individuals other than senior citizens (for senior citizens, the limit is Rs.50,000) under section 194A of the Income Tax Act. The bank aggregates the interest on deposits held in all its branches to calculate this limit.

However, if your total income is below the taxable limit, you can submit Form 15G and 15H to the bank and request them not to deduct any TDS.

Form 15g how to fill

If you want to withdraw PF money and you want to fill Form 15G, how can you fill it?

Step 1:- If you want to fill Form 15G through online website, then you can fill by clicking on this link, then you will get the printout won't need to.

Step 2:-  The eForm website will open in front of you, then you will have to enter some important information here, then you will have to click on the Download Button.

Step 3:- As you fill and submit the form mentioned above, you will get the filled Form 15G in front of you, by downloading which you can directly upload the PF form.

Important points for understanding above example-

  • Form 15G and 15H are applicable only for ‘residents’, hence a non-resident cannot take the benefit of these forms.
  • Deepak cannot submit Form 15G even though tax on total income is Nil, because his interest income is more than the basic exemption limit.
  • A senior citizen of age 68 years in above example can submit form 15H as his tax liability is Nil.
  • Condition of interest income being more than the basic exemption limit is applicable for form 15G only and not for form 15H. Form 15H can be submitted by senior citizens even if the interest income is more than basic tax exemption limit , provided that the taxable income (after deductions) is below the exemption limit.

Example to understand who can submit Form 15G and form 15H

Age50 years21 years65 years68 years
SalaryRs. 1,80,000
PensionRs. 1,00,000
FD interest incomeRs. 85,000Rs. 2,60,000Rs. 1,80,000Rs. 3,30,000
Total income before   
Section 80 deductions
Rs. 2,65,000Rs. 2,60,000Rs. 2,80,000Rs. 3,30,000
Deductions under   
Section 80
Rs. 45,000Rs. 30,000Rs. 10,000Rs. 55,000
Taxable incomeRs. 2,20,000Rs. 2,30,000Rs. 2,70,000Rs. 2,75,000
Minimum exempt   
Rs. 2,50,000Rs. 2,50,000Rs. 3,00,000Rs. 3,00,000
Ageless than 60 yearsless than 60 yearsmore than 60 yearmore than 60 year
Tax on total income is NilYesYesYesYes
Interest income is less than basic exemption limitYesNoN.A.N.A.
Eligible to submit   
Form 15G/15H
Form 15GCannot SubmitForm 15HForm 15H

Form 15G sample

Form 15H sample

How to fill Form 15G?

  • Name of Assesse (Declarant) – Enter your name as per income tax records & PAN number as per your PAN card,
  • Status – Input whether you are an individual or HUF
  • Previous Year –Input the current financial year for which you are filing up the form
  • Residential Status – this form can only be filled by residents. Check your residential status here
  • Fill in Address details along with PIN code, email, and telephone number.
  • Whether assessed to tax under the income tax act, 1961? – If your income was above the taxable limit in any of the past 6 years, answer this question with ‘yes”.
  • If yes, the latest assessment year for which assessed – mention the latest year in which your income was above the taxable limit.
  • Estimated income for which declaration is made – fill sum of interest or other income on which TDS should not be deducted.
  • Estimated total income of the previous year in which income mentioned in column 16 to be included – Calculate your total income from all sources, salary, stipend, interest income, any other income that you have earned during the year. Include the income mentioned in 16, above
  • Details of Form 15G other than this form filed during the previous year, if any;- please mention the total number of Form 15G filed for that particular year.
  • Also, fill the aggregate amount of income for which form 15G filed – Also provide the total income for which Form 15G was filed
  • Fill details of income for which declaration is filed; Identification number of relevant investment/account etc, nature of income, Section under which tax is deductible, Amount of income – Provide fixed deposit account number, recurring deposit details, details of NSCs, life insurance policy number etc. (many of these are chargeable to tax under section 56 of the income tax act)
  • Signatures – mention your capacity when signing on behalf of a HUF or AOP

Do not submit the form if such income has to be Clubbed with the income of another person

Do not submit Form 15G, if your income has to clubbed with someone else. Interest income from an FD for a non-earning spouse or a child has to be clubbed with the income of the depositor. In such a case Form 15G is not valid. PAN of the depositor is mandatory and TDS should be deducted in the name of the depositor.

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