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FORM NO. 15H See rule 29C(1A) Declaration under subsection (1C) of section 197A of the Income tax Act, 1961, to be made by an individual who is of the age of sixty-five years or more claiming certain

How to fill out form no 15h declaration

How to fill out Form No 15H declaration?

1. First, obtain Form No 15H declaration from the income tax department or download it from their official website.
2. Start by filling in your personal details, such as your name, address, and contact information.
3. Provide your PAN (Permanent Account Number) as it is mandatory for the declaration.
4. Enter your age, as individuals who are above 60 years are eligible to fill out Form No 15H.
5. Indicate the previous year in which you made the declaration for the first time, as well as the previous year in which you submitted a Form No 15H declaration.
6. Calculate your estimated total income for the current financial year. This includes all sources of income, such as salary, interest, and rental income.
7. Enter the estimated total taxable income for the current year.
8. Specify the projected total tax liability for the current year.
9. Declare any existing tax exemptions or deductions that you are eligible for.
10. Sign and date the form after reviewing all the information provided.

Who needs Form No 15H declaration?

1. Senior citizens who are above 60 years of age and wish to claim exemption from Tax Deducted at Source (TDS) on their interest income can use Form No 15H.
2. Resident individuals with no tax liability for the current financial year can also use Form No 15H to declare their eligibility for exemption from TDS.
3. Non-resident Indians (NRIs) are not eligible to fill out this form.

Note: It is important to consult with a tax professional or visit the income tax department's website for the latest updates and guidelines regarding the filling out of Form No 15H declaration.

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What is form no 15h declaration?

Form 15H declaration is a self-declaration form submitted by individuals to the income tax authorities to declare that their total income is below the taxable limit, so that tax is not deducted at source.

Who is required to file form no 15h declaration?

Individuals who are resident senior citizens and whose total income is below the taxable limit are required to file form no 15H declaration.

How to fill out form no 15h declaration?

Form no 15H declaration can be filled out by providing personal details, income details, tax computation details, and signing the form to declare that the information provided is true.

What is the purpose of form no 15h declaration?

The purpose of form no 15H declaration is to prevent tax deduction at source on interest income for individuals whose total income is below the taxable limit.

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

Information such as personal details, income details, tax computation details, and declaration regarding total income being below taxable limit must be reported on form no 15H declaration.