Get the free FORM NO 15H Declaration under section 197A1C to be made

FORM NO. 15H See section 197A(1C) and rule 29C Declaration under section 197A(1C) to be made by an individual who is of the age of sixty years or more claiming certain incomes without deduction of

How to fill out form no 15h declaration

How to fill out Form 15H declaration:

1. Begin by obtaining the Form 15H declaration from the income tax department or download it from their official website.
2. Fill out personal information such as your name, address, and Permanent Account Number (PAN). Ensure that you provide accurate and up-to-date details.
3. Next, mention your age and indicate whether you are a senior citizen or not. The eligibility criteria for submitting Form 15H include being a resident individual aged 60 years or above.
4. Declare the previous year and assessment year for which you are submitting the form. The previous year refers to the financial year for which the income is being assessed, while the assessment year is the year following the previous year.
5. Provide details of your estimated income for the relevant assessment year. This includes regular income, interest income, and any other income sources you anticipate receiving.
6. If you have already submitted similar declarations to other deductors (such as banks or financial institutions), mention the total amount for which you have already submitted Form 15H.
7. Declare that the estimated total income for the relevant assessment year will be below the taxable limit and that there will be no tax liability on it.
8. Sign and date the declaration form. Remember to provide your contact details, such as phone number and email address, for any further communication.

Who needs Form 15H declaration:

1. Individuals who are resident Indians and above 60 years of age during the financial year are eligible to submit Form 15H declaration.
2. Additionally, individuals who are resident Indians and below 60 years of age but fulfill certain criteria can also submit this form. This includes having no tax liability and estimated total income falling below the taxable limit.
3. It is important to note that this form is typically used to avoid TDS (Tax Deducted at Source) on interest income earned from fixed deposits or other similar investments.
4. Banks and financial institutions may require individuals to submit Form 15H in order to avoid deducting TDS on interest income. Therefore, individuals falling within the eligibility criteria mentioned above may need to submit this form to their respective deductors.

For pdfFiller’s FAQs

What is form no 15h declaration?

Form no 15h declaration is a form that individuals can submit to the Income Tax Department to declare that their income is below the taxable limit and therefore no tax needs to be deducted at source (TDS) on it.

Who is required to file form no 15h declaration?

Individuals who are residents of India and are aged 60 years or older can file form no 15h declaration if their income is below the taxable limit.

How to fill out form no 15h declaration?

Form no 15h declaration can be filled out by providing personal details, income details, and a declaration that the income is below the taxable limit. It must be signed and submitted to the Income Tax Department.

What is the purpose of form no 15h declaration?

The purpose of form no 15h declaration is to declare that the individual's income is below the taxable limit and therefore no TDS needs to be deducted on it.

What information must be reported on form no 15h declaration?

The information that must be reported on form no 15h declaration includes personal details such as name, address, PAN, income details, and a declaration that the income is below the taxable limit.

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