Form 15G and 15H Explained: Who Can Use Them and Common Mistakes

Forms 15G and 15H let individuals with low taxable income ask banks and other payers not to deduct TDS. They're simple, but they're declarations under the law, and they must be accurate. This guide explains who can use them.

Note: this article describes the rules under the Income-tax Act, 1961. The Income-tax Act, 2025 applies from 1 April 2026 (tax year 2026-27), with renumbered provisions, so check the current position for later periods.

What They Do

They are self-declarations stating that your total income for the year will be below the taxable limit, so no TDS should be deducted on specified income — commonly interest on bank deposits, and certain other payments like dividends and rent within limits.

Form 15G

For resident individuals below 60 years of age, and HUFs, whose tax on estimated total income for the year will be nil, and whose total of the relevant income doesn't exceed the basic exemption limit.

Form 15H

For resident individuals aged 60 or above, whose tax on estimated total income for the year will be nil after deductions and rebates.

How to Submit

• Submit to each payer — each bank or company — separately.
• Submit at the start of the financial year, before the first interest credit.
• Many banks accept them online through net banking.

Common Mistakes

• Submitting when total income exceeds the limit. A false declaration is an offence.
• Submitting to one bank but not others, then being surprised by TDS.
• Forgetting to resubmit each year.
• Non-residents submitting them — they can't use these forms.
• Confusing them with lower deduction certificates, which are needed for other situations.

What If TDS Was Already Deducted?

If tax was deducted but your income is below the taxable limit, you can claim a refund by filing your return.

Getting Help

Think Filing checks whether you're eligible for Form 15G or 15H and files returns to recover TDS where needed.