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Download 15G Form PDF For PF Withdrawal Form 15G is meant for individuals who want to claim no-deduction of TDS on certain incomes. It should be filled out by fixed deposit holders (less than 60 years) to ensure that no TDS (tax deduction at source) is deducted from their interest income in a year.
No, it's not mandatory but it will be helpful if you submit Form 15G every financial year if you are earning interest more than INR 40000 in a financial year.
Step 1: Visit and login to your account.ET Online. Step 2: Once logged in, select 'Form-15G/Form-15H' option under the 'e-Services' tab.ET Online. Step 3: A new tab will open. ET Online. Step 4: Select the branch code where the form is required to be submitted and click on submit.Getty Images. ET Online.Jun 4, 2020
Here's how you can do it:Log into your bank's internet banking with applicable User ID and Password.Click on the online fixed deposits tab which will take you to the page where your fixed deposit details are displayed.On the same page, you should have the option to generate Form 15G and Form 15H.More items•Apr 19, 2021
Eligibility criteria for submitting Form 15GYou are an individual or a person other than a company or a firm. You must be a resident Indian for the applicable Financial Year. Your age should be 60 years or less than. Tax liability calculated on the total taxable income for the Financial year is zero.
So for non senior citizen cases if you have any interest income from term or recurring deposits below basic exemption limit of 2.5 lakhs, you can opt Form 15G to avoid deduction of Tax.