Get the free Form No 15H Declaration under section 197A1C to be

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

How to fill out form no 15h declaration

How to fill out form no 15h declaration?

1. Obtain the form: Start by obtaining form no 15h declaration, which is a self-declaration form for senior citizens (individuals above the age of 60 years) and individuals who are not liable to pay any income tax.
2. Personal Information: Fill in your personal details accurately. This includes your full name, permanent address, contact number, and email address.
3. PAN (Permanent Account Number): Provide your PAN, which is a ten-digit alphanumeric number issued by the Income Tax Department to track your financial transactions. Make sure to check for any errors while entering your PAN.
4. Age and Previous Assessment Year: Mention your age as of the last day of the previous financial year and the relevant assessment year. The assessment year is the year following the financial year for which the income is being assessed.
5. Income details: Specify your estimated income for the relevant financial year for which you are making the declaration. Ensure that the income details provided are accurate and include all sources of income.
6. Reasons for Claiming: State the reasons for claiming relief from tax deduction at source (TDS) and the relevant section of the Income Tax Act under which you are eligible. For example, if you are a senior citizen and your total income is below the taxable limit, you can claim relief under section 197A(1A).
7. Declaration and Verification: Read the declaration carefully and ensure that all the information provided is true and correct to the best of your knowledge. Sign and date the form in the designated spaces to verify the authenticity of the information provided.

Who needs form no 15h declaration?

1. Senior Citizens: Form no 15h declaration is primarily required by senior citizens who are above 60 years of age. It allows them to declare that their estimated income for the relevant financial year is below the taxable limit and claim relief from TDS.
2. Individuals with No Tax Liability: Individuals who have no tax liability due to their income falling below the taxable limit can also use form no 15h declaration. This can include individuals who do not fall under the senior citizen category but fulfill the criteria for claiming relief from TDS.
3. Non-Resident Indians: Non-Resident Indians (NRIs) who meet the eligibility criteria for exemption from TDS can also make use of form no 15h declaration to claim relief on their income earned in India.

Note: It is important to consult with a tax professional or seek advice from the Income Tax Department to determine your eligibility for filing form no 15h declaration and to ensure proper compliance with tax regulations.

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What is form no 15h declaration?

Form No. 15H declaration is a self-declaration form submitted by individuals to banks to avoid TDS deduction on interest income if their total income is below the taxable limit.

Who is required to file form no 15h declaration?

Individuals above 60 years of age or HUFs can file Form 15H declaration if their total income is below the taxable limit.

How to fill out form no 15h declaration?

Form 15H declaration can be filled out by providing personal details, income details, and verifying the declaration before submitting it to the bank.

What is the purpose of form no 15h declaration?

The purpose of Form 15H declaration is to declare that the individual's total income is below the taxable limit and request the bank not to deduct TDS on interest income.

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

Form 15H declaration must include personal details, income details, declaration of total income being below taxable limit, and signature of the individual.