Form 15h: Fill & Download for Free

Form 15G and Form 15H are forms you can submit to make sure TDS is not deducted on your income if you meet the conditions mentioned below.“Form 15H is for senior citizens, those who are 60 years or older; while Form 15G is for everybody else.”Form 15G and Form 15H are valid for one financial year. So you have to submit these forms every year if you are eligible. Submitting them as soon as the financial year starts will ensure the bank does not deduct any TDS on your interest income.Conditions you must fulfill to submit Form 15G:1. You are an individual or HUF2. You must be a Resident Indian3. You should be less than 60 years old4. Tax calculated on your Total Income is *nil*5. The total interest income for the year is less than the minimum exemption limit of that year, which is Rs 2,50,000 for financial year 2015-16. (Limit is Rs 2.5lakhs for FY 2014-15, FY 2015-16 and FY 2016-17)Conditions you must fulfill to submit Form 15H:1. You are an individual2. You must be a Resident Indian3. You are 60 years old or will be 60 years old during the year for which you are submitting the form4. Tax calculated on your Total Income is nilForgot to submit Form 15G and Form 15HA lot of taxpayers forget to submit Form 15G and Form 15H timely. In such a situation TDS may already be deducted by the bank.What should one do about extra TDS deducted -File your income tax return to claim refund of TDS -The only way to seek a refund of excess TDS deducted is by filing your income tax return. Banks or other deductors cannot refund TDS to you, since they have already deposited it to the income tax department. Income tax department will refund excess TDS, after you file an income tax return.Submit Form 15G and Form 15H immediately – TDS is usually deducted quarterly. If you forgot to submit Form 15G/Form 15H, don’t worry. Submit it at the earliest available opportunity, so that no TDS is deducted for the remaining financial year.Other Purposes for which Form 15G/Form 15H can be submittedWhile these forms can be submitted to banks to make sure TDS is not deducted on interest, there a few other places too where you can submit them.TDS on EPF withdrawal – TDS is deducted on EPF balances if withdrawn before 5 years of continuous service. If you have had less than 5 years of service and plan to withdraw your EPF balance of more than Rs 50,000 (Rs 50,000 effective 1 st June 2016, Rs 30,000 prior to that), you can submit Form 15G/Form15H.TDS on income from corporate bonds - If you hold corporate bonds, TDS is deducted on them if your income from them exceeds Rs 5,000. You can submit Form 15G/Form15H to the issuer requesting non-deduction of TDS.TDS on post office deposits – Post offices which are digitised also deduct TDS and accept Form 15G/Form15H if you meet the conditions applicable for submitting them.TDS on rent – TDS is deducted on rent if total rental payment in a year exceed Rs 1.8lakhs. If tax on your total income is nil, you can submit Form 15G/Form15H to request the tenant to not deduct TDS.(applicable from 1 st June 2016)Hope it helps :)

Greetings,Recently, the Central Board of Direct Taxes (CBDT) has allowed the form 15g/15h submitted by taxpayers for FY 2019–2020 to remain valid till 30th June 2020 for FY 20–21. This would mean that Investors who are required to submit the Form 15g/form 15h for lower or nil deduction of tax from their Interest income can submit in it the first week of July, as well for FY 20–21.This extension of validity of Form 15G/15H of FY 2019–2020 would come as a relief for the taxpayers who usually have to submit these form in the first week of April every financial year to avoid TDS on interest income on Fixed deposits/bonds received from Banks or other Financial Institution.Hope it helps!

The declaration of form 15G/H is to be given at the time ofa. Change of financial yearb. Making a new time deposit inclusive of auto renewal.Note :1) The declaration given in the Form is valid for a financial year. The onus of intimating change in any particulars provided in the form is on the depositor and not on the bank.2) NRIs cannot submit Form 15G or Form 15H, these can only be submitted by resident Indians.What is Form 15G and Form 15H?Form 15G: Individual (of less than 60 years of age) or a person (not being a Company or Firm), who is resident in India can request the Bank not to deduct tax at source on interest paid/payable on time deposits by furnishing a declaration in Form 15G to the effect that the tax on their estimated total income of the relevant financial year will be Nil. However, the declaration in Form 15G is not applicable if the amount of the income (individually or in aggregate) credited or paid or likely to be credited or paid during the concerned financial year in which such income is to be included exceeds the maximum amount which is not chargeable to tax .Form 15H: Resident senior citizen person (60 years or more anytime during the previous year) can furnish similar undertaking in Form 15H (certifying that his estimated taxable income is below the maximum amount which is not chargeable to tax and tax thereon would be NIL), irrespective of the interest amount and rent amount paid or credited or likely to be paid or credited during the financial year. In this regard, it is to be noted that a customer is required to provide the details of all of his/her time deposits with Bank in Form 15G/H.Conditions you must fulfill to submit Form 15G:· You are an individual or HUF· The declaration filed in 15G / 15H is not valid unless the person furnishes valid PAN in such declaration· You must be a Resident Indian· You should be less than 60 years old· Tax calculated on your Total Income is nil· The total interest income for the year is less than the minimum exemption limit of that year.Conditions you must fulfill to submit Form 15H:· You are an individual· You must be a Resident Indian· The declaration filed in 15G / 15H is not valid unless the person furnishes valid PAN in such declaration· You are 60 years old or will be 60 years old during the year for which you are submitting the form· Tax calculated on your Total Income is nilWhat is the Process for Submission of Forms 15 G/H?Branch Channel:The Deposit holder can submit Forms 15G/15H in any of our branches (home/non home branch) .Online Banking Channel:The existing Internet banking users after Login to OnlineSBI (www.onlinesbi.com) can submit Forms 15G/H by following the steps as mentioned below:1) After Login click on e-services2) Select option Submit 15 G/H3) Select form 15G(Less than 60 Years) or 15H (60 Years and above) option.4) Select the CIF No and Click on Submit5) Some information is already given and fill up the remaining information.6) Confirm the details filled by the depositor OTP will be sent to registered Mobile no.Please visit the link SBI INB: Generating form 15G/15H Online(Video created in August 2017) for video tutorial on Online Submission of Forms 15 G/H.Forgot to submit Form 15G and Form 15HA lot of taxpayers forget to submit Form 15G and Form 15H in time. In such a situation TDS may already be deducted by the bank.What should one do about extra TDS deducted –1) File your income tax return to claim refund of TDS – The only way to seek a refund of excess TDS deducted is by filing your income tax return. Banks or other deductors cannot refund TDS to you, since they have already deposited it to the income tax department. Income tax department will refund excess TDS, after you file an income tax return.2) Submit Form 15G and Form 15H immediately – If you forgot to submit Form 15G/Form 15H, don’t worry. Submit it at the earliest available opportunity, so that no TDS is deducted for the remaining financial year.