Get the free form no. 15g

This form is a declaration to be made by an individual or a person (not being a company or firm) claiming certain incomes without deduction of tax, as per the provisions of the Income-tax Act, 1961.

How to fill out form no. 15g

How to fill out form no. 15g

1. Download Form No. 15G from the official income tax website or obtain a physical copy.
2. Fill in your name in the designated section, ensuring it matches your identification documents.
3. Provide your PAN (Permanent Account Number) in the specified field.
4. Enter the assessment year for which you are submitting the form.
5. Fill in your address details accurately, including street, city, state, and pin code.
6. State the nature of income for which you're submitting the form.
7. Mention the total income earned in the financial year accurately.
8. Sign the form at the bottom, ensuring your signature matches the name provided.
9. Submit the completed form to the relevant income provider.

Who needs form no. 15g?

1. Individuals whose total income is below the taxable limit and wish to avoid TDS (Tax Deducted at Source) on interest income.
2. Senior citizens who receive interest income and want to ensure no tax is deducted at source.
3. People receiving income from investments in fixed deposit accounts.

People Also Ask about

What is form 15G in English?

Form 15G and Form 15H are self-declaration forms that a taxpayer submits to request that income tax or TDS be not deducted on certain income received from the bank, dividend, rent, insurance commission, or withdrawal of EPF, NPS, etc. because their income does not exceed the basic exemption limit or their tax liability

Who is required to file form 15G?

Form 15G is filled by any person (other firm and company) who are below 60 years and form 15H filled by resident senior citizens aged 60 years or more. These forms should be filed at the beginning of the financial year in which such income is expected to be received.

What is the difference between Form 15G and 15H?

Younger individuals with incomes below the taxable limit can opt for Form 15G. Senior citizens with minimal incomes can choose Form 15H. It is essential to carefully assess one's eligibility based on age and income criteria and select the appropriate form to optimise one's tax exemption.

Is form 15G compulsory?

If your PF withdrawal amount is more than ₹50,000 and you've worked for less than five years, then yes, submitting the 15G Form EPF withdrawal is mandatory to avoid TDS. However, if your withdrawal is less than ₹50,000, you may not need to submit the form.

What is the difference between 15G and 15H form?

Form 15G applies to individuals below a certain age threshold, typically below 60 years. It is commonly used by non-senior citizens, including students and working professionals. On the other hand, Form 15H is specifically designed for senior citizens, generally aged 60 years and above.

Is form 15G self-declaration?

Form 15G is a self-declaration form you can submit to your bank to request non-deduction of TDS on your interest income — especially from fixed deposits. Here's what it does: Tells the bank that your total income is below the taxable limit.

Who should fill out the 15G form?

Form 15G is meant for non-senior citizens i.e. <=60 years. The aggregate of the interest (excluding interest earned on securities) received during the financial year should not exceed the basic exemption slab of Rs. 2.5 lakh (as per Old Tax regime) and Rs 3.00 Lakhs (as per New Tax regime).

What is meant by 15G?

Form 15G is meant for non-senior citizens i.e. <=60 years. The aggregate of the interest (excluding interest earned on securities) received during the financial year should not exceed the basic exemption slab of Rs. 2.5 lakh (as per Old Tax regime) and Rs 3.00 Lakhs (as per New Tax regime).

For pdfFiller’s FAQs

What is form no. 15g?

Form No. 15G is a document used in India that allows an individual to request that no tax be deducted at source on interest income earned if their total taxable income is below the taxable limit.

Who is required to file form no. 15g?

Individuals who are residents of India and whose total income is below the taxable threshold are required to file Form No. 15G to avoid TDS (Tax Deducted at Source) on their interest income.

How to fill out form no. 15g?

To fill out Form No. 15G, the individual must provide details such as their name, address, PAN (Permanent Account Number), email address, and the details of the income on which no TDS is to be deducted. Additionally, they must declare that their total income is below the taxable limit.

What is the purpose of form no. 15g?

The purpose of Form No. 15G is to ensure that individuals whose income is below the taxable limit can avoid unnecessary tax deductions on interest income, allowing them to receive the full amount of interest.

What information must be reported on form no. 15g?

The information that must be reported on Form No. 15G includes the individual's name, PAN, address, email, the amount of interest income, and a declaration that the total income is below the taxable limit.