What is Form 15G and 15H?

Do you know the interest you earn from the fixed deposit or post office deposit is taxable? If you have these investments, you must know about Form 15G and Form 15H. Banks deduct TDS when your interest is more than Rs. 40,000 in a year. But, if your total income is less than Rs. 2, 50,000 per year, you should submit Form 15G and Form 15 H to the bank or post office, asking them to not deduct any TDS.

How old is your business?
Last year’s Sales?
First Name
Last Name
Phone
Name your city

instant business loan

ZipLoan is the Lender of Choice for Small Businesses.

logo
Minimal Documentation

No balance sheet needed

logo
Collateral Free Loan

For a business with turnover of 10L+

logo
Receive Funds within 3 Days

Straight into your account

logo
No Prepayment Charges

After first 6 months

What is Form 15 G?

Form 15 G is a self-declaration form. It declares that one's income is below the taxable limit and hence they should be exempted from tax.

You need to fulfil the following criteria for filling Form 15G-

  • You must be an Indian resident.
  • Your age should be under 60 years.
  • You Total income is less than Rs. 2,50,000.
  • You are an individual or Hindu united family (HUF) or trust but not a company or firm.
  • Your total interest income is less than the basic exemption limit of the year. The exemption limit is 2.5 lakh for FY 2020-21

What is Form 15H?

Form 15H is a self-declaration form for those who are above 60 years of age. You need to meet the following criteria for filing Form 15H-

How Much Exemption You Can Get?

How to Online Fill the Form 15G and 15H?

TDS deducted on income from fixed deposits, EPF withdrawal, post office deposits, and Insurance commission is not refundable by the bank. You have to claim it while filing ITR. It is better to fill the form 15G and form 15H online in advance.

ICICI-Prudential-Internal-page

Solving Real problems

Ram Yadav

I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.

Kanchan Lata

I approached Ziploan for an equipment finance loan because they required no collateral. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.

Ready for Ziploan to
empower your business ?