Get the free Form 15G & 15H

CLAIM EXEMPTION FROM TDS ON INTEREST INCOME FOR YOUR INVESTMENTS Submitting Form 15G/ 15H can save you, the customer the hassle of claiming a refund of the tax deducted at source (TDS) deducted on

How to fill out form 15g amp 15h

How to fill out form 15g amp 15h

1. Gather all the necessary documents such as PAN card, bank details, and identification proof.
2. Download the Form 15G and 15H from the income tax department's website or obtain it from the bank.
3. Fill in the personal details section including name, address, PAN card number, and contact information.
4. Provide relevant financial information such as income, estimated total income for the year, and tax calculated thereon.
5. Declare that your taxable income is below the threshold limit and you are not liable to pay tax by signing the form.
6. Submit the form to your respective bank or financial institution.
7. Keep a copy of the filled form for your records.
8. Ensure that the form is submitted before the first payment of interest or any other income is received.
9. Renew the declaration annually if the income remains below the threshold to avoid any deductions.

Who needs form 15g amp 15h?

1. Individuals who are residents of India and are below 60 years of age.
2. Individuals who have a taxable income below the threshold limit.
3. Individuals who do not have to pay any tax for the financial year.
4. Individuals who want to avoid tax deduction at source on their interest income from bank deposits, fixed deposits, etc.
5. Individuals who want to ensure that their income is not subject to tax deduction at source can also submit form 15G or 15H.

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What is form 15g amp 15h?

Form 15G and 15H are tax declaration forms used in India, allowing individuals to submit a declaration to financial institutions to ensure that no tax is deducted on interest income if their total taxable income is below the taxable limit.

Who is required to file form 15g amp 15h?

Individuals whose total income is below the taxable threshold are required to file Form 15G or 15H to ensure that no TDS (Tax Deducted at Source) is deducted from their interest income.

How to fill out form 15g amp 15h?

To fill out Form 15G, provide personal details such as name, PAN, address, and the financial year for which the form is being submitted. Ensure to validate that your total income is below the taxable limit. Form 15H requires similar details but is specifically for senior citizens.

What is the purpose of form 15g amp 15h?

The purpose of Form 15G and 15H is to ensure that tax is not deducted at source on the income earned by individuals whose total income is below the taxable limit.

What information must be reported on form 15g amp 15h?

Information such as the name, address, PAN, financial year, details of income, and declaration confirming that total income is below the taxable limit must be reported on Form 15G and 15H.