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.
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 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:
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.