What Are Form 15G and 15H, and How to Use Them to Avoid TDS on Interest Income

Every year, banks deduct TDS on interest income by default, regardless of whether your income is actually taxable. Forms 15G and 15H exist to correct this. Many submit the wrong form, miss eligibility conditions, or skip the process entirely. This guide explains what Forms 15G and 15H are, who should submit them, and how using them correctly can help you receive your income in full without avoidable tax deductions.

What is Form 15G?

Form 15G is a self-declaration form used by resident individuals in India who are below 60 years of age. By submitting this form, an individual requests the payer, such as a bank or financial institution, not to deduct Tax Deducted at Source (TDS) on certain types of income.

Form 15G can be submitted only when the individual’s total income for the financial year is below the basic taxable limit, meaning no income tax is payable.

Purpose and Usage of Form 15G

The main purpose of Form 15G is to help individuals whose income is not taxable avoid unnecessary tax deductions.

This form is commonly used by:

• Retirees with limited income
• Students earning interest income
• Individuals with low or irregular earnings

Check out the investments that can help you save income tax!

Benefits of Form 15G

Form 15G allows eligible individuals to avoid unnecessary tax deductions on interest income, but only if it is submitted on time.

• Avoids unnecessary TDS: The main benefit of Form 15G is that it prevents the payer, such as a bank, from deducting tax on your income when you are not liable to pay income tax for the financial year.
• Improves cash flow: Since you receive the full income amount without tax deductions, your immediate cash flow remains intact. This is especially helpful for individuals with low or fixed incomes.
• Saves time and effort: By submitting Form 15G, you avoid the need to file an Income Tax Return later only to claim a TDS refund.
• Simplifies tax compliance: For individuals whose income stays below the taxable limit, Form 15G simplifies the tax process by addressing TDS upfront.

Form 15G Eligibility 

To submit Form 15G, all of the following conditions must be met.

• Applicant status: You must be a resident individual, a Hindu Undivided Family, or a trust. Companies and partnership firms are not eligible to submit Form 15G.
• Age requirement: If you are an individual, you must be below 60 years of age. Senior citizens must use Form 15H instead.
• PAN is mandatory: A valid Permanent Account Number is compulsory. If PAN is not provided, TDS will be deducted at a higher rate of 20 percent, even if Form 15G is submitted.
• Total income below exemption limit: Your estimated total income for the financial year must be below the basic exemption limit, such as ₹2.5 lakh or ₹3 lakh, depending on the applicable tax regime.
• Nil tax liability: The tax calculated on your total income for the financial year must be zero.

Please note that Form 15G must be submitted to each financial institution where you earn income that is subject to TDS, such as banks, post offices, or the EPFO. The form is valid for one financial year only and needs to be submitted every year if the eligibility conditions continue to be met.

When You Should NOT Submit Form 15G

You should not submit Form 15G if:

• Your total tax liability for the year is not zero
• You have taxable capital gains
• Your income exceeds the basic exemption limit and tax is payable

Submitting Form 15G incorrectly may lead to penalties under the Income Tax Act.

How to Fill Form 15G?

The form is mainly used for interest income from fixed deposits, recurring deposits, post office schemes, or EPF withdrawals.

Key Details to Fill in Part I of Form 15G

Part I of Form 15G is filled by the individual making the declaration.

Personal Details

• Enter your full name exactly as mentioned on your PAN card.
• Mention your 10-digit PAN correctly. PAN is mandatory.
• Select your status as “Individual”.
• Enter the relevant financial year for which you are submitting the form, such as 2025–26.
• Choose your residential status as “Resident”.
• Fill in your complete address along with your email ID and mobile number.

Tax Status and Income Details

• Indicate whether you have been assessed to income tax in any of the previous assessment years. If yes, mention the latest assessment year.
• Enter the estimated income for which you are submitting Form 15G, such as interest income or EPF withdrawal.
• Mention your total estimated income from all sources for the financial year, including salary, interest, and other income.
• Ensure that this total income results in zero tax payable.
• If you have submitted Form 15G or Form 15H to any other payer during the same financial year, mention the number of forms submitted and the aggregate income covered.

Income Source Details

• Provide details of the income source, such as bank account number, fixed deposit number, or EPF member ID.
• Mention the nature of income, for example, interest income or PF withdrawal.
• Specify the applicable TDS section, such as Section 194A for bank interest.
• Enter the amount of income on which the TDS exemption is being claimed.

Declaration

Read the declaration carefully and sign the form, confirming that your income is below the basic exemption limit and that no tax is payable for the year.

Submission Process for Form 15G

For EPF Withdrawal

• Log in to the EPFO Member Portal.
• Go to Online Services and select Claim (Form 31, 19, or 10C).
• Complete KYC verification if not already done.
• Upload the scanned copy of Form 15G along with your PAN in PDF format.

For Bank or Post Office Interest

• Submit Form 15G to your bank or post office either through internet banking or by visiting the branch.
• Some banks allow digital submission through their net banking or mobile banking platforms.

What is 15H for Senior Citizens?

Form 15H is a self-declaration form used by senior citizens aged 60 years or above who are residents in India. By submitting this form, they request the payer, such as a bank or financial institution, not to deduct Tax Deducted at Source (TDS) on certain types of income.

Form 15H is commonly used for income such as interest earned on fixed deposits, recurring deposits, post office schemes, and corporate bonds.

Apart from interest income and pensions, the government also supports vulnerable senior citizens through welfare programs. Understand eligibility, benefits, and coverage under the NSAP scheme and how it complements your overall financial security.

Purpose of Form 15H

The main purpose of Form 15H is to help eligible senior citizens receive their income in full when they do not have any tax liability for the financial year.

Without Form 15H, TDS may be deducted even when no tax is actually payable. 

In such cases, the senior citizen would need to file an Income Tax Return later only to claim a refund. Submitting Form 15H in advance avoids this inconvenience and simplifies tax compliance.

Benefits of Form 15H

The main benefit of Form 15H is that it helps senior citizens manage cash flow better while keeping tax compliance simple.

• Avoids unnecessary TDS: Form 15H prevents banks and other financial institutions from deducting tax at source when you do not have any tax liability.
• Improves cash flow: By avoiding early tax deductions, senior citizens, especially retirees who depend on interest income for regular expenses, are able to maintain a steady cash flow throughout the year.
• Reduces compliance burden: Submitting Form 15H removes the need to file an Income Tax Return only to claim a refund of excess TDS, saving both time and effort.
• Wide applicability: Form 15H can be used for multiple types of income where TDS is applicable. The include interest from bank fixed and recurring deposits, post office schemes, corporate bonds, premature EPF withdrawals, and life insurance maturity proceeds.

Planning for a steady income after retirement is just as important as saving tax today. Learn how the Atal Pension Yojana helps individuals build a guaranteed pension while keeping their long-term tax planning on track.

Form 15H Eligibility Criteria

To submit Form 15H, all the following conditions must be satisfied.

• Age: You must be a resident of India aged 60 years or above at any time during the relevant financial year.
• Residential status: Only resident Indians are eligible. Non-Resident Indians cannot submit Form 15H.
• Tax liability: The tax on your estimated total income for the financial year must be zero after considering all applicable deductions and rebates, such as those under Sections 80C, 80D, and 80TTB.
• PAN requirement: A valid Permanent Account Number is mandatory. Without PAN, the form will be considered invalid, and TDS may be deducted at a higher rate of up to 20 percent.

How to Fill Form 15H? 

Form 15H has two sections.

– Part I is filled by the individual making the declaration.
– Part II is filled by the bank or institution that pays the income.

How to Fill Part I of Form 15H (Declarant Section)

You can obtain Form 15H from your bank branch or download it from the official Income Tax Department website.

Fill in the following details carefully.

• Enter your full name exactly as mentioned on your PAN card.
• Mention your ten-digit PAN correctly. PAN is mandatory.
• Enter your date of birth to confirm senior citizen status.
• Select the relevant financial year for which the declaration is being made.
• Fill in your complete residential address and contact details.
• Indicate whether you have been assessed for income tax in any of the previous six assessment years. If yes, mention the latest assessment year.
• Enter the estimated income for which you are submitting the declaration, such as interest from fixed deposits.
• Mention your estimated total income from all sources for the financial year and ensure that the final tax payable is zero.
• If you have submitted Form 15H to more than one payer in the same year, mention the total number of forms submitted and the aggregate income covered.
• Provide details of each income source, including the account or investment number, nature of income, applicable TDS section, such as Section 194A for interest, and the amount of income.

Read the declaration carefully and sign the form, confirming that all details are correct and that your tax liability for the year is nil.

Submission of Form 15H

Submit the completed Form 15H to the income payer, such as your bank, post office, or financial institution.

It is advisable to submit the form at the beginning of the financial year or before the first interest payment to ensure that TDS is not deducted.

Key Difference Between Form 15G and Form 15H

The main difference between Form 15G and Form 15H is based on the age of the individual submitting the form.

Feature	Form 15G	Form 15H
Eligible taxpayer	Resident individuals below 60 years, HUFs, and trusts	Resident individuals aged 60 years or above
Age requirement	Below 60 years	60 years or more
Income condition	Total income must be below the basic exemption limit	Total tax liability for the year must be zero
Companies or firms	Not allowed	Not allowed
Who should use it	Non-senior citizens	Senior citizens only

For Form 15G

To submit Form 15G:

• Your total income for the financial year must be below the basic exemption limit
• Your tax liability must be nil

For Form 15H

To submit Form 15H:

• You must be a senior citizen
• Your final tax liability must be zero, even if your income exceeds the basic exemption limit after deductions and rebates

If you want to start saving tax in a disciplined way through market-linked investments, opening a free demat account is a practical first step. Explore one of the leading investment apps in India.

Disclaimer- The rankings and figures in this article have been compiled from multiple verified reports, credible sources, and public financial data available as of 2026.

All values are approximate and may vary with newer updates, revisions, or changes in official records.

Form 15G and 15H – FAQs