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Version No. 5.0 27th October 2015 (NOC Copy) FORM 15 (H) See Section 197A(1C) and Rule 29© Declaration under Section 197A(1C) to be made by an individual who is of the age of 60 years or more claiming

How to fill out form 15 h

How to fill out Form 15H?

1. Begin by obtaining a copy of Form 15H from the income tax department's official website or any designated centers.
2. Fill in your personal details such as name, address, PAN (Permanent Account Number), and contact information in the respective fields provided.
3. Mention the financial year for which the declaration is being made.
4. Provide your age and mention whether you are a senior citizen or not.
5. Specify the previous year in which the tax deducted at source (TDS) was determined and the amount for which the declaration is being made.
6. Mention the total estimated income for the financial year, including all sources of income, deductions, and exemptions.
7. Declare the details of other estimated income on which tax is deductible but for which Form 15H is not submitted.
8. Provide information about the nature of the income for which the declaration is being made, such as interest, dividends, etc.
9. Sign and date the form to validate the declaration.
10. Once completed, submit the filled form to the relevant deductor, such as banks, post office, etc.

Who needs Form 15H?

1. Individuals who are resident in India, below 60 years of age, and have total income below the basic exemption limit are not eligible to submit Form 15H.
2. Senior citizens (individuals aged 60 years or above) are eligible to submit Form 15H if their total estimated income is below the income tax threshold.
3. Non-senior citizens and senior citizens can use Form 15H to declare that their estimated tax liability for the financial year is zero due to deductions and exemptions.
4. Individuals receiving income like interest, dividends, etc., and want to avoid TDS deduction for the relevant financial year can submit Form 15H.
5. It is important to note that Form 15H should only be submitted if the taxpayer meets the eligibility criteria mentioned above and their total estimated tax liability is nil or below the taxable limit.

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What is form 15 h?

Form 15H is a self-declaration form submitted by a taxpayer to the income tax department to avoid TDS deduction on interest income.

Who is required to file form 15 h?

Individuals who are senior citizens (age 60 years or above) and do not have taxable income are required to file Form 15H.

How to fill out form 15 h?

Form 15H must be filled with accurate personal and income details, signed and submitted to the concerned financial institution or payer.

What is the purpose of form 15 h?

The purpose of Form 15H is to declare that the taxpayer's income is below the taxable limit and hence no TDS should be deducted on the interest income.

What information must be reported on form 15 h?

Form 15H requires details such as name, PAN, address, income details, tax computation, and declaration of no tax liability.