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Form 15G/H Save TDS on Interest Income

Last Update Date : April 30, 2019
Estimated Read Time: 5 min

Submitting Form 15G/h to save TDS on Interest Income

Is your bank deducting TDS on the interest income earned on your bank deposits? Submitting Form 15G/H to your bank can solve your problem.

In this guide by H&R Block, learn how to prevent your bank from taking your money!

When to submit Form 15G?

Bank deducts TDS when your interest income is above Rs 10,000 in a financial year. You can submit Form 15G requesting your bank not to deduct any excess tax if your interest income earned is less than the prescribed limit.

What is Form 15G and 15H?

Form 15G/H is a self-declaration form u/s 197A of the Income Tax Act, 1961, through which you declare that your estimated annual income will not be taxable and hence you request the bank not to deduct TDS.

SIDE NOTE: The difference between Form 15G and Form 15H is that the latter is only meant for senior citizens, and you must provide your date of birth, instead of status and residential status in it.

Who can submit Form 15G and Form 15H?

Refer to the table given below:

     Eligibility Criteria                  Form 15G                     Form 15H
AgeLess than 60 yearsOnly for senior (60 – 79 years) and super senior citizens (80 years & above)
PAN card requiredYesYes
Status (type of assessee)  Individual/ HUF/ Trust/ any other assessee, but not a company or a firmIndividual
Residential statusIndianIndian
Annual Income

(FY 2018-19 & AY 2019-20)

Up to Rs 2,50,000Up to Rs 3,00,000 for senior citizens, and up to Rs 5,00,000 for super senior citizens

[ Calculate Your Income Tax Liability ]

Things to remember while submitting Form 15G

  • Submit one copy of a valid PAN card along with a cover letter to the bank at the beginning of the financial year and get the acknowledgement for the same.
  • In case you have multiple accounts at different branches which give you interest income, you must submit Form 15G/H at each of those branches.
  • Do not declare any false information, as, u/s 277 of the Income Tax Act 1961, any false or incorrect declaration will attract penalty.
  • Save a copy of acknowledgment as a proof of submission.

How to get Form 15G?

You can get Form 15G/H by visiting your nearest bank, or by downloading it from either the Income Tax Department portal (1) or your bank’s net banking portal.

How to fill Form 15G?

Let’s understand the process of filling Form 15G:

  • Step 1: In Fields 1 to 14, fill in your details like name (as per PAN), PAN number, status, address etc.
  • Step 2: In Field 15(a), tick “Yes” if your income was above the taxable limit for past 6 years. If you ticked “Yes” in Field 15(a), mention the latest year in which your income was above the taxable limit.
  • Step 3: In Field 16, fill in the amount of income on which you do not want your bank to deduct TDS.
  • Step 4: In Field 17, fill in the amount of estimated total income of the previous year from all sources, including salary, stipend, interest income and income mentioned in Field 16.
  • Step 5: In Field 18, mention the total number of Form 15G filed during the previous year and the average amount of income for which these forms were filed.
  • Step 6: In Field 19, mention the details of your term deposits, recurring deposits, National Saving Scheme Certificate, life insurance policy details etc.
  • Step 7: Under declaration/ verification, mention your capacity (when signing on behalf of HUF or AOP).
  • Step 8: Sign the form.

Submit Form 15G/H

You can submit Form 15G or 15H either online or offline. To submit it offline, you must visit your bank. Form 15G/H can be submitted online through your bank’s net banking portal, which is a more convenient way.

How to submit form 15G online in SBI

  • Step 1: Visit the SBI net banking portal (2) and log in with your credentials.
  • Step 2: Click on “e-Services” and choose “Submit 15G/H” from the list.
  • Step 3: Click on either Form 15G or Form 15H, whichever is applicable to you. Select the CIF number and click on “Submit”.
  • Step 4: Select the branch code and click on “Submit”.
  • Step 5: Fill in the blank fields and click on “Submit”.
  • Step 6: Enter the “High Security Password” received on your registered mobile number and click on “Confirm”.
  • Step 7: After completing the process, a message will appear on your screen, confirming your Form 15G/H submission.
  • Step 8: To save the submitted Form 15G/H for future reference, click on “Click here to download the form”.

Other Benefits of Submitting Form 15G

In addition to TDS on interest income, these forms can also be submitted to save TDS in the following situations:

  • EPF withdrawal: TDS is deducted on your EPF if you withdraw it within 5 years of continuous service and the amount exceeds Rs 50,000.
  • Corporate bond income: A corporate bond which earns you an income of more than Rs 5,000, is taxable. However, you can submit Form 15G/H to the issuer, requesting non-deduction of TDS.
  • Post Office deposits: You can submit Form 15G/H at a digitised post office to save TDS on the income you earn from post office deposits.
  • Rent: Any individual or HUF receiving rent from a resident exceeding 1,80,000/- during a financial
    year can submit Form 15G/H to save TDS.
    SIDE NOTE: As per the recent interim budget, the rent payment limit is proposed to be changed from Rs. 1,80,000 to Rs. 2,40,000, for FY 2019-20.
  • Insurance commission– As an insurance agent, if your insurance commission exceeds Rs 20,000 per financial year and your total income is not taxable, you can submit Form 15G/H requesting for the non-deduction of TDS.

People also ask

Q. What is AO code in Form 15G??

A.  Assessing Officer (AO) code helps to identify your PAN’s jurisdiction, appropriate tax authority and relevant tax rules applicable to you based on your category.

For example: The AO code may differ between salaried individuals, Companies, Army/ Defence personnel etc.

Q. What is the last date to submit Form 15G?

A. There is no such fixed last date, but it is advisable to submit your Form 15G in the beginning of financial year during April to your Bank to prevent any excess TDS deduction.

Q. My bank deducted TDS. What can I do now?

A. Your bank will not process your refund once the TDS is deducted from their end. However, you can file your income tax return to claim your refund.

Q. Can an NRI submit Form 15G/ H?

A.  No NRI’s are not eligible to submit this form as it’s applicable to resident Indians only. For NRI’s, the Income Tax Law has provided a different procedure of submitting a request to their Jurisdictional Tax Officer requesting for waiver.

The purpose of Form 15G/H is to ensure that you do not have to pay TDS when your total income is less than the taxable limit. Submitting it early can save you from the hassle of claiming a refund later, when you file your taxes. With the net banking option, you can easily complete this process from your home!

How can H&R Block help you?

H&R Block is the world’s largest Income Tax filing services provider. Get your efiling of Income Tax done by our tax experts who will help you understand your tax modalities, prepare your return and file it online.


  • Knowledgeable & experienced tax professionals
  • Accurate calculation & speedy filing
  • Proactive tax-saving advice & year-round support
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Chetan Chandak (B.Com, LLB)
Chetan is the Head of Tax Research at H&R Block (India) with an experience of more than a decade in tax advising. He is also a regular contributor for some of the leading news publications in India such as Economic Times, Financial Express and Money Control. Professionally, Chetan is fascinated by international taxation and expat-related tax research.

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