Submit this declaration each April if you are a senior citizen or have low income to avoid TDS on interest.
Jurisdiction
All of India
Who applies
Individuals below 60 years of age (Form 15G) or senior citizens aged 60 and above (Form 15H) whose total income is below the basic exemption limit and who want to prevent TDS on bank interest, recurring deposit, or other specified payments
Typical time
Same day (submit to bank/deductor; effective immediately for the financial year)
Fee
Free
| # | Document | Type needed | Purpose |
|---|---|---|---|
| 1 | PAN Card | Self-attested Copy | Mandatory to submit Form 15G/15H; without PAN, TDS is deducted at 20% even if the form is submitted |
| 2 | Aadhaar Card | Self-attested Copy | Required for identity verification when submitting the declaration; some banks also require Aadhaar for online submission |
| 3 | Fixed Deposit / RD account details | Original | Account number and amount needed to fill in the declaration and for the deductor (bank) to process the request |
| 4 | Estimated income computation (self-prepared)(optional) | Soft copy (PDF) | Self-assessment of annual income to confirm eligibility before submitting the declaration |
Original documents: Carry originals only for in-person visits — do not hand them over permanently unless explicitly required.
At the beginning of every financial year (April), estimate your total income for that year from all sources — salary, pension, interest, dividends, rental income, and capital gains. Compare your estimated total income with the applicable basic exemption limit. For Form 15G (below 60 years), total income must not exceed ₹2.5 lakh. For Form 15H (senior citizen), income must not exceed ₹3 lakh (or ₹5 lakh for super seniors). Also check that the interest income from a single deductor does not exceed ₹40,000 (₹50,000 for senior citizens) as these are TDS threshold limits that may trigger TDS even if 15G is submitted incorrectly.
Download Form 15G or Form 15H from the Income Tax Department website or the bank's website, or collect a physical copy from any branch. Fill in Part I of the form: declarant's name (as on PAN), PAN, residential status, address, email, phone number, Assessment Year, financial year for which declaration is made, nature of income (e.g., interest on FD), account number(s), estimated income from this deductor, and estimated total income for the year. Tick the checkbox confirming that the tax on estimated income is NIL. Sign the declaration.
Submit Form 15G/15H to each deductor separately — you must submit one form per bank where you hold fixed deposits. Online submission is available on most major banks' net-banking portals under 'Fixed Deposits > Submit 15G/15H'. For offline submission, visit the branch and hand over the signed physical form. Submit before the first interest payment of the year (ideally in April) to prevent TDS on any instalment. Keep a copy for your records. The form is valid only for one financial year.
The bank or deductor is required to upload the details of all Forms 15G/15H received to the TRACES portal as part of their quarterly TDS returns. Once uploaded, the declaration is visible in your Form 26AS and AIS. You do not need to take any separate action — just confirm with the bank that the submission has been acknowledged and that TDS will not be deducted on your FD interest for the year.
After the first quarter-end (July), log in to the e-Filing portal and download Form 26AS for the current Assessment Year. Check that no TDS appears under the deductor (bank) for the FD interest credited. If TDS has been deducted despite submission of the form, contact the bank and request a refund of excess TDS or request correction in the TDS return. Alternatively, claim the deducted TDS as a credit in your ITR to get a refund during filing.
Respective bank or company deducting TDS
Step 3–4 — Receiving declaration and uploading to TRACES
Accepts Form 15G/15H, processes the nil TDS request on the relevant account, uploads the declaration details to TRACES quarterly, and refrains from deducting TDS on eligible payments.
Directorate of Income Tax (Systems), Ministry of Finance
Step 4 — Online record maintenance
Maintains the database of all submitted 15G/15H declarations uploaded by deductors and makes this information available for taxpayer verification.
Download blank Form 15G/15H, verify Form 26AS post-submission to confirm nil TDS deduction.
Deductors upload 15G/15H declaration data; taxpayers can verify that their form details have been reported correctly.
Form 15G/15H is valid only for one financial year; it must be resubmitted every April — if submitted late, TDS already deducted before submission cannot be reversed by the bank.
If you have fixed deposits at multiple banks or with multiple companies, a separate Form 15G/15H must be submitted to each deductor; one form at one bank does not cover other deductors.
Without a valid PAN, the declaration is invalid and TDS is deducted at 20% under Section 206AA, overriding any 15G/15H submitted.
Submitting Form 15G or 15H knowing that your income exceeds the taxable limit is an offence under Section 277 of the Income Tax Act and can attract prosecution.
For Form 15G (below 60), the total income from all sources must not exceed ₹2.5 lakh AND the interest income from the deductor must not, when combined with other income, make the total taxable; check both conditions before submitting.