Get the free Form No. 15H - Hsbc - hsbc co

Form No. 15H See Section 197A(1C) and Rule 29C(1A) Declaration under Section 197A(1C) of the Income Tax Act, 1961 to be made by an individual who is of the age of sixty years or more claiming certain

How to fill out form no 15h

How to fill out form no 15h:

1. Ensure that you meet the eligibility criteria: Form no 15h is applicable for individuals who are resident taxpayers in India and are above the age of 60 years. Additionally, the total income for the financial year should be below the taxable limit.
2. Obtain the form: The form can be obtained from the income tax department's website or from any designated bank branch.
3. Fill in personal details: Begin by filling in your personal details such as name, address, PAN (Permanent Account Number), and contact information.
4. Mention previous year's income: Provide information regarding your income for the previous year, which includes details such as salary, interest, pension, and so on. Ensure that accurate information is provided to avoid any discrepancies.
5. Mention deductions claimed: If applicable, mention any deductions or exemptions claimed under various sections of the Income Tax Act. This could include deductions for medical expenses, house rent allowance, and others.
6. Declare that the tax liability is nil: In Form 15h, you need to declare that your tax liability for the year is nil and that you are eligible to submit the form.
7. Sign the form: Once you have filled in all the required information, sign the form at the designated space provided.
8. Submit the form: After completing the form, submit it either physically at the designated bank branch or electronically through the income tax department's e-filing portal.

Who needs form no 15h:

1. Senior citizens: Form no 15h is specifically designed for individuals who are above the age of 60 years. It allows them to claim exemption from tax deduction at source (TDS) on certain incomes.
2. Individuals with low taxable income: Form no 15h is applicable for individuals whose total income falls below the taxable limit. By submitting this form, they can avoid TDS deductions on interest income, dividends, or any other income as specified by the income tax department.
3. Non-resident Indians (NRIs): NRIs who meet the criteria of age and income mentioned above can also submit form no 15h to avoid TDS deductions on their income in India.

Note: It is always advisable to consult a tax professional or chartered accountant for specific guidance related to your individual tax situation.

For pdfFiller’s FAQs

What is form no 15h?

Form No. 15H is a self-declaration form submitted by individuals who are 60 years or above to provide a declaration stating that their income is below the taxable limit.

Who is required to file form no 15h?

Individuals who are 60 years or above and have income below the taxable limit are required to file form no 15H.

How to fill out form no 15h?

Form No. 15H can be filled out by providing personal details, income details, and declaring that the income is below the taxable limit. It must be submitted to the relevant financial institution.

What is the purpose of form no 15h?

The purpose of form no 15H is to provide a declaration that the individual's income is below the taxable limit, hence no tax deduction is required on the interest income.

What information must be reported on form no 15h?

The form must include personal details, income details, and a declaration that the income is below the taxable limit.

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