What are Form 15G and Form 15H?

1. Taxation forms: 15G, 15H

Form 15G or 15H are self-declaration forms that state that one’s income is below the taxable limit and hence exempt from tax.

2. Avoiding TDS

One can avoid the TDS on incomes like interest and rent by submitting form 15G or 15H to the relevant person or organisation like banks, issuers of corporate bonds, post office or tenant.

​3. Who these apply to?

15G is for resident Indians under the age of 60, HUF or trust. Form 15H is for resident Indians aged 60 years or above.

4. Validity and submission

Validity of 15G and 15H is one year only and needs to be submitted every financial year.

5. Delay and/or non-submission

The only way to seek a refund of excess TDS deducted because of delay or non-submission of form 15G/15H is by filing income tax return.