Tax Declaration Form 15G/15H

We are receiving queries regarding New Form 15G/15H, its benefits and procedure of filling & submission of Forms.

Here we are sharing the complete details

Form 15G/15H are Self-Declaration Forms required for Non-Deduction/Lower Deduction of TDS on Interest in Fixed Deposits.

Form 15G:

This is the form which is filled by any individual below the age of 60 Years as per the declaration under Sub-section (1) and (1) A of section 197A of the Income Tax Act 1961 claiming Interest Income without deduction of Tax. HUF(Hindu Undivided Family) can also furnish Form 15G.

Form15H:

Form15H can be submitted by Senior Citizens only, who are above 60years of age.

Always submit 2 copies of 15G/15H Forms along with the FD Application Forms.

To fill Column 10  in the Forms, AO Code is required. You may Click the link  below to get the details:

https://incometaxindiaefiling.gov.in/eFiling/Services/KnowYourJurisdictionLink.html

Form 15G and Form 15H both have a validity of one Financial Year Only. These Forms are valid only for the Financial Year in which client has furnished these forms and in case client wants to apply for Non/Lower Deduction of TDS on interest of Fixed Deposit in another Financial Year,  he/she has to refurnish these Forms (2 Copies) again with the company/bank.

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5 thoughts on “Tax Declaration Form 15G/15H

  1. As a senior citizen, does one have to give details of Listed company investments in equity, Mutual fund holdings etc. even though the dividends from such companies and dividends are tax free

    • Hello and thanks for submitting your query with me.

      There is absolutely no need to give details in your IT return of your investments in equity, shares or thru Mutual Funds. But Yes, in case you are booking equity profits within one year, then you have to declare the profits make by you in your IT return, to calculate capital gain tax. Presently it is 20% on the profit booked by you on your equity investment within one year.

      Profits booked after one year of investment can avail Indexation benefit.

      Dividends are tax free, whether it comes from Shares or Mutual Fund investments. The reason is that after declaring dividends, Companies have to pay the Dividend Distribution Tax to Govt. And please note that as per recent budget proposals its now increased from 15% to 30% from 1st June 2013.

      For any other information, please feel free to contact me thru this website.

      -VS

  2. Dear Mr. VS.,
    Thanks for your prompt response. But my query was not with reference to Income Tax Returns but to declaration in the NEW FORM 15G/15H. Whether we have to give the details as envisaged in the new form 15G/15H which has been introduced w.e.f. 1.4.2013

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