What is Form 15G and Form 15H

Form 15G and Form 15H are forms which can help a person avoid TDS incase one does not have to pay income tax at the end of the year. Form 15H is for senior citizens and form 15G is for others. In this article we will see how a person can avoid payment of TDS by submitting these forms 15G and 15H.

form 15H and form 15G

Suppose your Father has invested Rs 20 lacs in a Bank FD . He gets interest @8% , that’s Rs 1.6 lacs per year . Now ideally he is not supposed to pay any tax on this because this income is less than the limit . But bank cuts the TDS @10% and pays Rs 16,000 to the govt as TAX (Note that TDS is cut only when interest income is more than 10,000) . To get back this 16,000 back , your father will have to file tax return and then wait for the tax refund to come back .

What is TDS

TDS means tax deducted at source , what it means is that instead of paying tax at the end of the year , the tax will be levied on the income as and when it arises and hence taken in advance with assumption that anyways the tax has to be paid later . So TDS will arise when your salary comes , when interest of your bank account comes , winning of Lottery and many such things, the rate at which TDS is cut varies from one thing to another and also its different for Resident Indian and NRI’s . Note that in case of Bank deposits , the TDS rate is 10% provided one has furnished his PAN details , otherwise if PAN details are missing the TDS rate is 20% , where as for NRI’s who earn interest on their NRO’s account are subject to 30% TDS .

Download Form 15H & form 15G

Let me tell you what are form 15G and form 15H . In one line, These forms are self declaration forms to be submitted if total taxable income of a person is going to be less than the permissible limits . So if a person is sure that he will not be required to pay any tax in a particular year , then he can submit for 15H or 15G to avoid deduction of TDS from his interest income and other kind of incomes where TDS is applicable . Note that these forms are not applicable for NRI’s.

Form 15H can be submitted by a person who is above 60 yrs (w.e.f 1/4/11) . An important point here is that a person should have not have paid any tax in the previous year . So only if one didn’t have any tax liability in previous year can submit form 15H . It should be submitted at the start of the year itself , so that TDS can be avoided , there is no point in submitting this at the end of financial year because by then TDS would be cut anyways . Form 15H can not be submitted by HUF’s .

Form 15G has the same purpose as Form 15H , just that this form should be submitted by a person below 60 yrs old (w.e.f 1/4/11) . Also this form can be submitted by HUF’s . Rest all things are common between 15G and 15H .

Download  Form 15G 

Download Form 15H

How NRI’s can avoid TDS or reduce the interest on TDS

Any Non Resident Indian from whose Income the Tax is likely to be deducted at source can apply to obtain exemption for tax deduction provided his/her taxable Income in India is less than Rs.1,50,000/- per year. Or if the tax likely to be deducted is more than the estimated tax liability, is eligible to apply for certificate permitting deduction of tax at lower rate. The income tax department generally issues Exemption Certificate for a period of 1 to 3 years.

Any NRI who has obtained Exemption Certificate need to submit it to the Payer of the income who will follow the certificate and not deduct tax or may deduct at a lower rate as given. If there is genuine mistake in representation for obtaining the Exemption Certificate, no penalty is attracted. However you may have to pay interest if you are liable to pay income tax later on. More info on this link

Thanks for Lokesh for this info

These forms have to be furnished separately for each financial year. For eg – If you have a 5 year FD, you’ll have to furnish Form 15G/Form 15H separately for each year. It is advised that you do the same in the beginning of the year to avoid any wrong dedcution of TDS. Are these form 15G and Form 15H applicable to you

371 CommentsAdd Comment

  1. Ajay

    Manish – Good one.
    The 15G forms seems to be confusing. There is no place that says “Interest from FD pr other accounts”. Is it possible for you to put a sample filled 15G for all of our reference.

    • Ajay

      If you look at schedule 3 , you can put your interest rate and other details there . also the form 15G is not only for the bank interest , its applicable everywhere , so dont look for specific wordings .


  2. shinu

    Hi Manish

    perfect time you wrote on the subject as i too is in a bit of fix in this regard. I am an NRI and have an NRO deposit with federal bank (which is the only bank which had offered me a TDS of 10% instead of 30% as you mentioned) . But they didnt assist me with a 15G form though i asked but said may be i can reclaim the 10% by a tax refund claim. i am still looking for the right way to act. hope someone will assist.



    • Shinu

      As Srinivas mentioned , these forms are applicable for Residents only . You should ask the bank why didnt they assist you , mainly they should give you these reasons which you are finding on this blog .


      • Shinu

        Thanks Srinivas & manish

        Now a bundle of doubts…may be too preliminary, still appreciate your time.
        Is it mandatory to have a tax file to claim a refund later? How easier it is as this is the only taxable product i have? can it be done online? For an FD started in April 2011 and maturing in April 2013 when these filing to be done? Can i get deductions for having insurance products on this?

        Thanks in advance


        • Shinu

          You will have to file the tax return to get your tax refunds . But if you have done the FD in Apr 2011 , now is the time to give your Form 15G and file the tax return only next year .


  3. Karuna

    hi Manish
    very informative article…my question is more or less the same above,(Mr: Shinu’s) being a NRI i wanted to know weather i can take advantage of 15G and 15 H to get away from TDS from my NRO FD

  4. Would like to add another important point to the above article that these forms have to be furnished separately for each financial year.

    For eg – If you have a 5 year FD, you’ll have to furnish Form 15G/Form 15H separately for each year. It is advised that you do the same in the beginning of the year to avoid any wring dedcution of TDS

    CA Karan Batra

      • Manish, I would like to highlight another point that TDS on Interest is deductible only in case of Fixed Deposits and not for Savings Account.

        So even if your Interest on Savings Account (which was recently increased to 4%) is more than 10,000, no TDS would be deductible on the same

        • Karan

          Oh , I didnt knew that . thanks for letting us know what . Another question I had was , is there no way an NRI avoid TDS ? they are not eligible for these forms , but there has to be some way for some one who will not pay tax at the end and his TDS is cut


          • Sohil

            Also I guess 15G forms are to be filled by people who dont have other source of income or they are sure that their income wont cross basic taxable limit(even after investing in 80C they come under nil tax,they shouldn’t file this form).
            I have seen bank people suggesting to avoid tax on fds just filled the form.But the criteria is other(Income from fd and all other income should be below basic tax limit) and if wrongly done one can be penalized if i am not wrong.

        • vedanth

          Sir, I am a retired person. all these years , and i am paying income tax on my retirement benefits ever since my retirement . My wife now attained the age of 60 and has become senior citizen. To avail the tax deduction of Rs 2.50 lakhs , i wish to give some of my deposits to my wife , so that i also need not pay tax. How best I can do about this.I sit enough if i write my intetion on a stamped paper and kept with me?if so what is the stampage?kindly advise me sir.

    • H G Sadhwani

      What if tax payable exceeds taxable limit for F.Y. 2011-2012 ? If an individual pays advance tax/es in Sept or Dec & March 2012, and if he has submitted Form 15 G to Banks, is it right for now ?

      • HG Sadhwani

        You dont have to submit 15G if you have any doubt that your income will increase than the limit , its only for them who are sure that there income wont rise . Like a retired person who gets bank interest .


  5. Manish S

    Hi Manish,
    You forgot to mention that,form submission should only be done if you anticipate that you wont be falling into the tax bracket for the Financial year(your income would be less than the minimum taxable income).
    If you are salaried and have an taxable income,you Should NOT submit the form. I have seen many persons with income 6 Lakh PA submitting these. In such cases you need to pay taxes on interest and hence submitting form 15 G/H is wrong.

    –Manish S

  6. Srinivas

    Useful information to many. I suggested this to my father who is using this regularly.

    Just a digression. Hindu undivided family is a good concept which can be utilised by many to their advantage. However, the concept is new to many. Would like a post on the same.


  7. M Anand Kumar

    Hi Manish,

    Do we have to submit 15G form every financial year?

    Some personal experience which would be useful to everyone:
    I had recently submitted my 15G form for the sweep account in SBI for the financial yr 2011-2012.
    My interest income was more than 10k (summation of interest income of sweep accounts every month) and TDS was happening 10%, 20%, 30% and even 40% on certain interest income of certain sweep accounts though PAN card number was already present. On my conversation with Bank Manager, I submitted the 15G form to avoid TDS and agreed upon to pay the tax on interest income myself.
    Well now i have file the tax return to claim the excess tax deducted from income tax department, as i have the bank TDS statement of sweep accounts.
    Reason for explaining this is certain things go on in the back end and we will not be aware of this; as these information were not present in my bank account transaction details. I got this info from e-tax statement under e-tax option.
    Note: If we break the sweep account partially or completely within a yr, then interest income credited will be for the debited amount wrt interest rates for the term. eg: 10k @8.5% for an yr. Debited 5k after 3 months then interest earned for 3 months will be credited (probably 2%) as per bank norms and not at 8.5% minus TDS @10% of interest earned.

    • M Anand

      Yes ,you need to give form 15G every year.

      What are those things which has TDS at 40% ? Also what is the conclusion of your comment , May be we need more clarity from you ?


      • M Anand Kumar


        Tax deductions of certain sweep accounts interest income were happening at 20%,30%, 40% though i come under 10% slab.

        Hence the conclusion is that submit 15G form to avoid tax deductions from Bank’s end and pay the tax on interest income at the end of financial yr urself. :-)

        • Srinivas

          TDS is maintained at the lowest tax slab level.

          The idea of 15G is that if your income is below the lowest tax slab, you can avoid paying TDS. However, if you are in 10% tax bracket, form 15G cannot be given as in it(form 15G), you are declaring that you have no taxable income.
          In such cases TDS certiciate can be attached and final tax paid can be reduced to that extent.

          The other point, 20,30,40% tax on interest, you have to discuss with the Branch manager whether it(your info) is correct and if so basis for the same. Currently tax at the highest slab is 30%. And TDS is done at the lowest level only. Even if your salary is in 20 or 30% bracket, the tax due to %differnce need to be paid by respective individual.

          If BM confirms that 20,30 or 40% is the norm, you may like to take this up with higher authorities.


          • M Anand Kumar


            Thanks for providing more clarity on 15G form. After submitting 15G form, PAN number is removed from my bank account number. Removal of PAN number is now making sense.

            BM told me that as TDS is deducted and submitted to IT Dept for the financial yr 2010-11; it’s not possible to refund from Bank’s end. Therefore he gave me the TDS certificate to claim the excess deducted amount from IT Dept.

            Since there was no further tax deduction from Banks end, i didn’t get into details of faulty system which is in place.


  8. Asim

    Hi Manish !
    That’s one more useful article.
    Tell Me,If my total taxable income is going to be more than permissible limits, can I still fill form 15G ? will be it wrong declaration in such case ? It sounds convenient to pay tax at the end of the year myself rather than bank deducting. can you guide me?

    • Asim

      hmm.. i think it should be fine to submit these forms even if your income is above the limit , because these are the self declaration forms and there is no way to check if your income was really above or below the limit .


    • Although these are self-declaration forms, it is advised not to give wrong declarations.
      I mean you’ll have to pay the tax today or tomorrow but if the Income Tax Officers come to know about the same, they hv the power to charge you with a case of Tax Evasion as false filing for the purpose of non-deduction of TDS is a punishable offense

      • Karan

        I didnt think of it that way , My bad .

        So what you are saying is that we should not give wrong declaration , even if we intend to give all the tax at the end of the year for convinience purpose . Got it


        • yar aise to sab wrong declaration dena shuru kar denge and the whole purpose of deducting TDS would be spoiled.

          so, it is always advisable not to give any wrong declaration

          • Sohil

            Yes as i said before a lady in bank said my mom to fill this form so that tds dont gets deducted.My mom did the same.Later when i came to know i gave a word to the lady to correctly mention when to fill the form.
            She said that my mom was a housewife to that i say i file her returns as earning lady and her income goes way par taxable limit and you will bring her under penalty clause with you deed.

            So again as CA karan said,one needs to be careful while filing the form.Even if by making 80c investment ones incomes goes below taxable limits than also he/she shouldn’t fill the form.Pay tds and than file return to get refund .If done online refund return wont take time.

          • Rahul

            I have planned to leave my Job and go for higher education (MBA), so I submitted Form 15G, but as I was not selected in the CAT test I continue my job and now I am in taxable income of 10%. What shall I do now?

        • RAHEJA AMAR

          Can you explain it further vis-a-vis filing 15G/15H forms that even if not eligible we can file 15G/15H forms , if we intend to give all the tax at the end of the year for convinience purpose . Got it “

  9. Puneet

    Another thing is, make sure to get confirmation / acknowledgement from the bank for these forms.
    It happened with my mother, the bank conveniently did not updated the form15 submitted details in their online system, and we ended up getting TDS deducted at the end of the year.

    • Srinivas

      True. As a matter of principle, we should ideally keep a receipt of all documents provided to any institution, not only financial institutions. With massive increase of transactions at a branch, it is quiet possible to misplace a document. In such cases, receipts will help a lot.

  10. Vanga Rajendra Prasad

    If TDS is to be done on the interest of your fixed deposit, give specific mandate to the bank to deduct tax from your saving account, but not from the fixed deposit. Ex: you have fixed deposit of Rs 30,00,000/- in bank and the interest on that is Rs 240000/-which is credited to your account in a year. If you have not given mandate to deduct TDS from your Saving account, bank will deduct TDS of Rs 24000 from the principal amount of Rs 30 lakhs. Next year you will get interest on 2976000/- only. If that is deducted from SB account you will be losing 4% interest only. But deduction from Fixed deposit will deprive you more than 8%

  11. SAURAV

    Yaar Manish kuch samajh mein nai aaya, seems now I’ve 2 dig reliable stuff on Indian taxation rules, can any1 help me? any site, books, blogs/sites on taxation as good as Manish’s will do… thanks

  12. Now this rule has changed w.e.f. 1/4/2010 a new sec 206AA has inserted that says “In case of certain payments (Eg: Interest), where party was allowed to declare on Form 15G / 15H for non-deduction of tax, earlier many were not used to provide PAN. But, newly introduced section, makes such payments, if eligible for TDS, to compulsory quote the PAN. This means in such case where PAN is not-available/invalid, TDS has to be charged at higher rate, not ZERO irrespective of Form 15G / 15H.”

    Read more: http://law.incometaxindia.gov.in/DitTaxmann/FinanceAct/FinAct20092/Finact69.htm

    • chandra

      i am 58year old i pension taken 102000 p.a. and 2 fixed deposit one is 1 lac and second one is 5000 same branch i donot have pan card . so my queston question iscan i submit 15G form a and i file tax return if i do the pan card if i have pan card is it nessery t to file tax return every year . what i do for no tax didecton please answr me

      • VINOD K



        • NO

          The Indian Govt very well knows the mentality of Indians. They know that Indians dont like to pay taxes from their own Pocket and that is why they have introduced the concept of TDS and TDS is now being implemented on all payments.

          Vinod, No-one will go and pay taxes on Interest Income and always try to hide the same.

          Govt very well knows the mentality of Indians and that is why they have made Non-Deduction of TDS by false certification is a punishable offence.

          • Srinivas

            There are 2 scenarios.

            No taxable income or taxable income.

            If there is no taxable income, 15G/H forms.

            If there is taxable income, as indicated, there is no much difference between TDS and payment at the end of the year, but for the time lag. It may be difficult to pay a lumpsome at the end of the year and TDS may obviate this problem.

            Also giving this form when one knows that his income crosses the tax limit may not be correct.

            Also, now from the PAN number, ITO can see the bank details(of all accounts) of an individual for the period concerned. This can create issues if incorrect form is submitted.

      • lokesh

        Any Non Resident Indian from whose Income the Tax is likely to be deducted at source can apply to obtain exemption for tax deduction provided his/her taxable Income in India is less than Rs.1,50,000/- per year. Or if the tax likely to be deducted is more than the estimated tax liability, is eligible to apply for certificate permitting deduction of tax at lower rate.
        The income tax department generally issues Exemption Certificate for a period of 1 to 3 years.
        Any NRI who has obtained Exemption Certificate need to submit it to the Payer of the income who will follow the certificate and not deduct tax or may deduct at a lower rate as given.
        If there is genuine mistake in representation for obtaining the Exemption Certificate, no penalty is attracted. However you may have to pay interest if you are liable to pay income tax later on.

  13. Raj


    My wife is a homemaker, could it be possible to open up a joint account, and make her as the primary account holder, and then put up some 5 Lakh and then submit 15G to avoid taxes.

    I believe this is completely legal, and smart move? Please advice.

    Thanks, Nawaz

  14. ram

    1. Can 15G/H be submitted by a NRO depositor to avoid tax?
    2. Is NRI eligible any concession on 30% (tax on NRO int. amt)
    if the NRI is residing at Singapore (under double taxation scheme)?

    Pl clarify………….Ram

  15. Sidharth

    nice post.
    For example-
    mr x’s income in FY 2011=280000 i.e 240000(salary) 40000 (income from FD ) and he invest 100000 (u/s 80 C).
    PY-no tax liability.
    #Can he still file 15G ? (as after 80C his taxable income is only 180000)
    #what will be ur ans of above question if-interest of 40000 came from different branch/bank (<10000 frm a branch/bank)

    excuse typo error-send frm mobile.

    • Sidharth

      Yes , he will be eligible to submit 15G , as his taxable income would be less than the limit and he dont have to pay any tax at the end of the year . If he has less than 10k interest from different branch , then there is no need to fill this form as there wont be any TDS ! . But if its more than 10k , then he has to submit that form to each branch !


      • Sohil

        JUst for sharing::

        Though eligible i guess on taxguru on cnbc awaz i heard by CA Subhash lakhotia that its not a correct practice to do as the form rule states its to be file by those whose income fall below taxable limit without investing or you have income only from interests nothing else.Though you are correct but assessing officer if send a letter(notice) than he is also not wrong as it have been seen they taking undue advantage of language of the law(personal experience by the CA).

        His advice was to shift fd with different branches such that in 1 branch your fd interest doesnt exceed 10,000 limit as mentioned by Manish Sir.

  16. anubhav

    After reduction of the Senior citizen age from 65 years to 60 years, what form, 15G or 15H will be applicable for a person below 65 years and above 60 years of age5

  17. Raman dev suri

    A person got fixed deposits odf rs 8000000 and intt comes to rs 700000 and already submitted form 15 h whether he is liable to pay tds

    • Sohil

      FIrst getting amount more than 50,000 as interest in a year from fd will compulsory applies tds unless/untill you get a letter from income tax officer saying tds shouldnt be applied to it as your income is lower than taxable limits.I am not sure but this rule exists i am sure.Any ca or bank officer can confirm it.

      Now you saying 7 lakhs as interest.& lakhs is the interest you earn on your principal.Its the money you earn and basic income tax limit is 1 lakh 80k something.Its bound to be taxed.

      Plus ill say dont do the mistake o f filling the form else you will be penalized heavily for giving faulty information as your letter stands a proof in law for your misdeed even though you stand ignore to the rule of the land as it carries your signature.

  18. chandra grover

    fin. year 11-12.
    In the case of a Sr.citizon.
    expected tax on total income Rs.4,900.
    on fd tds will be 14900/-.
    if deposit advance tax on expexted total income, it will be less than tds.
    whethther he can submit 15h and avoid tds /refund etc., he will deposit tax himself and file the return.

  19. Swathi Reddy

    thanks for the information i had cleared my dought.comment and the responses are very helpful.thank you.

  20. mukesh bhatia

    rs 100000/-deposit in sahara india fixed scheme in the name of my son .he is minor.can i submitted 15 g form with my PAN NO ? i am not tax payer . pl reply mukesh bhatia jaisalmer

    • Sohil

      SIrjee avoid sahara.Even investing in muthoot finance is advisable in comparision to sahara.

      There is case going between sebi and sahara regarding similar scheme going from the company side.

      • mukesh bhatia


        • lokesh


          As per present income tax guidelines, banks are required to deduct tax at source (TDS) on deposits if the total interest earned on all your fixed deposits in a bank is more than Rs.10,000 in a financial year. (as per these guidelines even if a fixed deposit is in the name of a minor TDS is deducted). However, the depositors can claim the credit for such TDS in their income tax returns. (Now a days such deducted TDS is reflected in AS26 which can be downloaded from income tax site. (in case of minors, this credit for TDS can be claimed by the person who manages the minor’s income.)

  21. Vikas

    I am unemployed presently and going to invest in a commercial retail co. and will get interest income from them in the form of PDC’s. Now the Form -15G, which i will submit to the co. shall i download it from the website and filled myself and give it to co. directly or take it from the bank and filled by them and submit there. Please tell me the procedure how to submit Form-15-G to the co.

    Thanks & regards

      • Vikas

        Thanku Manish for the swift reply..
        One thing more, If i submit form 15G to the comp. and it is valid for 1 year right? But in the mid of the year if again i invest more and get more interest income from them and which crosses tax liability then what would be the impact….

  22. Vishal

    What are the options for retired NRIs (my parents) aged 60 and 67 to alleviate or get a refund on TDS for Fixed Deposits ? The interest income is over 5 lakhs per annum. They have no other income apart from this interest income. Thank you.

      • Vishal

        I read there was 5 lakh exemption for NRI senior above 65 years. They are aged 60 and 67.

        Do they have to pay any more tax apart from the TDS that is cut automatically ?

        I was not asking about RI forms 15G and 15H. I understand that does not apply since my parents are NRIs.

        I am having them consult an accountant but would like to know more myself.

        Thank you for your input.

  23. Arundhati

    I am a salaried professional. last week I wanted to make FD of 1 lac at 9.50% interest rate for 2 years. I was told if I apply 15G declaration, no tax would be deducted from my FD. I did not know about the clause for non-earning people in form 15G.
    I already file return through my company. So now how does it work out? Is what I did was illegal?

    Thanks & Regards


    Many many thanks, Manishji,

    What a article you have choosed.. I really grateful to you. I just find this type
    of article for Father-in-law. I want to know, If a retired person to do a FD, why
    bank authority cann’t suggest that thing, which may people are in a dark this
    type of FD.

    Thanks a lot…..

  25. raj

    wonderful discussion ..

    my query is that for an FD of 3 years if a person submits form 15g on 3rd year..so can tds deducted during 1st 2 years (which was deducted during 2years ) be returned??

  26. rajesh

    how i maintain tax returns i am salary holder and i getting some other money.I had ppf and f.d pl.tell how i maintain tax deduction.I had land property (HUF) so what sujest to tax saving matter.

  27. williams

    Declaration under sub-section (IC) of Section 197 A of the Income Tax Act 1961, is to be made by an individual who is of the age of 65 years, for claiming certain receipts without deduction of tax. Has this rule been amended to read 60 years after the Budget Presentation in Feb ’11 ? If so what is the authority for the same – Is there a Circular or Notification.

    In the event of the reduction in age to 6o years, how will we read section 80D and 80DDB, as per which for deduction in case of senior citizens, it is still 65 years (Form H, as existed earlier) .

  28. Neeraj Mohan

    Hi Manish,
    I am thinking of making an 4 yr FD of 1,00,000 in SBI at 9.25% compounded quaterlly.
    In this case simple interest will be less than 10000. But my doubt is whether they calculate simple interest or compound interest?
    My compound interest in 4th year may be above 10000 right…so is it taxable?
    or should i reduce the amount to 90000 so that interest will be less than 10000?
    I am student.

    • Neeraj Mohan

      sorry… i mean whether they will calculate simple or compound interest to calculate income tax…. they ony tell that intrest/year should b less than 10000 for no tax

    • Neeraj

      Rememeber that interest on FD is always taxable .. even if you earn Rs 100 as interest even that is taxable . What you are talking about is TDS , if interest is more than 10k in one year , then TDS is cut by bank itself .

      So now if you choose the Cumulative FD , which means that the interest gets accumulated and you get it only on maturity , then the interest will be more than 10k and TDS will be cut in tht year .. but if you choose “quarterly payout” then each quarter the intetrest will be paid out to you and this situation will not arise


      • Neeraj Mohan

        okay.. now its clear ..thank u so much..!
        can u suggest a investmet option for 3 to 5 yrs.
        i have 2 lakh to invest. this is my first earning, i dont have any investments yet.
        how should i start?

  29. Debobrata Ghosh

    Last yr i hve submitted 15g for my mother 4 FD’s.i,e., prevoius year ending 31.03.12. Assesement year 2012 – 2013 . whit i found is tht bank credited int on every quarter . Principal was 55000/- int on maturity was 4609/- . What i shock most is tht total int was not coming to the actual maturity amount . my fear is that whether they have debited some amount money or i should get refunded. i have the xerox of 15G .wht happens if bank fails to submit 15G will one get back i TDS deducted amount???

    Kindly reply…
    D. ghosh

    • Debobrata

      The bank will not cut TDS if the interest is less than 10k , so in your case there was no requirement of submitting form 15G .. but anyways .. what difference do you see ? can you give details ?

      You get your TDS only through tax returns refund .. not from bank


  30. Aseef

    Dear sir,
    I joined a 5 yr tax saving fd at sbi for 1 lakh @9.25% on jan 25 2012.
    will i get exemption of 100000 under 80c for AY 2012-2013?
    when i file returns for ay 2012-2013,should i include income from interests of this fd? If yes ,please tell me how much amount..thanks and regards…

  31. Aseef

    hi Manish,thanks for the reply.
    Is a tax saving fd deposited as late as ,say,march25 this year eligible for deduction under80c for this year?..thanks

  32. Rajesh

    Dear sir,
    I have a salaried saving a/c. I joined a 5555 days fd(two nos ) at sbi for 2 lakh each @9.25% . Do I have to submit 15 G every financial year to stop TDS or only once. Even if TDS stopped, does it affect my salaried income. Should I show FD interest while filing income tax return after financial year ?

    • Yes, Form 15G is applicable for only 1 Financial year and you will have to submit a new form for each new financial year.

      Yes, you have to show your Interest from FD’s under Income from Other Sources while filing your Income Tax Returns

    • Interest on FD is taxable irrespective of how much interest you have earned

      However, in case your Interest during a financial year is more than Rs. 10000, TDS would also be deducted on the same.

      And in case you dont want your TDS to be deducted, the above Forms as specified in the above article by Manish need to be furnished

  33. Murthy

    Guys, Appreciate if some one can help with an answer to this… If a person is paying tax in another country and comes under ‘double tax avoidence rule”, he need not pay tax for his/her Indian salary income. This being the case, does this rule applicable to Bank interest and Long term capital gain (in shares) also? How one can avail this facility and avoid paying tax on interest earned??


    Though my total income is taxable, I submit 15G against FDs to bank and add my bank interest to the income while computing income tax, so that maturity value of the FDs are intact and all the tax is deducted through my office DDO. Please suggest whether I should do otherwise.

  35. Prof.D.V.R.Rajakumar

    I have a regular salary income exceeding the taxable limit. I am 60 years 7 months old. I had put an FD of Rs. 10 lakhs in Nov. 2011 and given the certificate to my company for regular tax deuction. Bank alos has deducted 10%. How to avoid this almost 40% deduction. Bank manager says If I give 15 G no tax will be deducted at source. But all your info says it is a wrong declaration. Should I allow both deduct and ask for refund form IT department. What is the solution

  36. Lukhey

    I am a salaried individual in 30% tax bracket. My wife is not working and has no income; and we have never filed returns for her in India ever. In Jan’2012, I have created fixed deposits with a bank for 30Lakhs @ 9.25% for 10 years in her name. Now, the banker recommended giving Form15G to avoid TDS deduction on interest amount earned on these FD’s. Now, i have the following questions:
    1. Is it legal for my wife to sign Form15G ?
    2. It the overall interest crosses the 1.8L limit, what needs to be done? Can we use 80C to make some investments etc to save taxes?

    • Lukhey

      1. Yes , she has to sign it as its in her name .

      2. If the interest crosses 1.8 lacs , in that case you need to pay tax , but you can invest in 80C products and save tax . But the point is that all the income earned will be treated as your income, not hers ! .

  37. Sharabbi Munda

    My mother who is a NRI, had earned approx Rs. 1.3 lacs over a 3 yr period on a FDR. On muturity she was charged 30% tax on the intrest earned. As she has no other income in India and tax has already been deducted by the bank, is ther any way to get this TAX refunded. I live in UK and here you can ask for a tax refund going back upto 6 years. Thanks

  38. Milind Sawant

    I am a bank officer want to submit the forms 15g and 15h of my branch to ITO please send me sample filled by banker for form 15g and 15h submitted to ITO for financial year ending 31.03.2012

  39. Sagar

    Hello. I hv a qery. Suppose my wife’s income from salary is Rs 16000 p.m. and interest income from bank FD is Rs 56,000 for the AY 2011-12. Thus her total annual income is Rs 2,48,000. But she had deposited Rs 70,000 in her PPF A/c. in AY 2011-12. So effectively her Tax liability comes to Nil considering that no tax is payable upto Rs 1,90,000 and then upto Rs 1,00,000 can be invested under Sec80C. My qerries are 1. Am I right in assuming that her tax liability is Nil ? 2. Is she eligible to submit Form 15 G in Bank for AY 2012-13 since her Tax liability will be Nil, even though her Total income is Rs 2,48,000 and not below Rs 1,90,000 ? Regards Sagar.

  40. Karthik

    My wife is doing an internship for 6 months with a stipend of 20,000 p.m. i.e., a total of 1,20,000 which is well below the limit of 1,90,000 for women. Can she avoid TDS at her company by filing 15G. Kindly explain.

  41. binu

    Dear Manish,
    I usually make tax saver investments towards the end of a financial year. So ,can i submit form 15g earlier in the year to avoid tds because i am planning on tax saving investments later ..

  42. Biswajit Maji


    UBI has deducted Rs.675.00 as a tax against my mother FD on 23.02.2012. She have no PAN card. How can my mother will take back the tax amount bkz she’s income below limit. Can the bank refund the money immediately if i will deposit the 15G.

    • No Biswajit

      What bank has cut is called TDS . And its a standard practice – You will be able to claim that money back only if you file a tax return and ask for refund . Form 15G has to be submitted in the start of the year itself . Do it from next time please

  43. binu

    Dear Manish,
    let me rephrase the previous question.
    Suppose i want to submit form 15g at the start of fy2012-2013 and at that point of time i have not yet invested in tax saver plans but i am planning to invest later in that fy,say at feb 2012-2013 . can i submit form 15g in this case.?.thanks

    • Binu

      The only criteria is that you must know in advance that you will not have to pay the tax at the end. If you say you will do it later, there is no guarantee here that you will actually do , What if you cant because of cash crunch later . So in this case ideally as per law, you should not be giving Form 15G

  44. Debobrata Ghosh

    Dear Manish,
    I am getting one thing a bit confusing .we have an a/c in ubi where at the begining of the financial year for certain Fd’s Form 15G been submitted. Now , suppose if in feb or march if i do an FD for that do i have to re-submit form 15G for this financial year. I went to UBI for submission of 15G form for that particular FD they refused to take it & said that only ONCE IN A FINANCIAL YEAR it has to be submitted. So, for that FD any tax would be deducted or not. I am in alittle dilemma.Kindly seek your advice….


  45. kamal arora

    i recently retired from Air Force and want to fix 15 lac in bank as fixed deposit for that I will be getting appx 11,500 int pm. i want to know whether i have to pay income tax if yes how can I save this please inform.

    i will be thankful to you

    • Kamal

      You dont have to pay income tax at the end of the year because your over all income will be below taxable limit , But because you are planning to do a FD and the interest is above 10,000 . The TDS might be cut by bank , So there are 2 solution

      Solution 1 : submit a form 15G to your bank so that they dont deduct TDS
      Solution 2 : Better to 2 FD , each with different bank , so that TDS is not cut because the total interest from one FD will be below 10k


  46. Sagar

    Debobrata Ghosh / Manish Sir

    I would like to add my knowledge to what Manish Sir has already advised you. If you are depositing differen amounts in the same bank and in the same names on differen dates by way of FDs, the Customer id remains the same. Only the FD certificate nos change, which makes no difference. So one has to submit Form 15 G only once since it will be reflected in the Bank’s system against your Client id and any subsequent FDs will get the benefit of non-deduction of income tax.

    Manish Sir, kindly correcvt me if I am wrong. Besides please enlighten me why one has to submit Form 15 G at the begining of FY ( as advised by you to Binu above )when the Bank deducts advance tax for the first time only on 15 Sep of each Fin year. So can’t we submit Form 15 G at anytime before 15 Sep ? My bank is ok with it. Regards Sagar.

  47. Sagar

    Dear Manish Sir,

    Sorry to be back but one thing just struck me. As you have advised to Binu that if later in the year ,say in Feb or March, if one experiences a cash crunch and is unable to invest under Sec 80C, it is not advisable to submit Form 15 G in advance. But Sir, should such a circumstance arise and one is unable to invest under Sec 80 C, one can always deposit income tax later on and show it in his return, isn’t it Sir ? So what’s the harm in submitting it earlier ?

  48. Sagar

    Dear Manish Sir,

    Sorry to be back but one thing just struck me. As you have advised to Binu that if later in the year ,say in Feb or March, if one experiences a cash crunch and is unable to invest under Sec 80C, it is not advisable to submit Form 15 G in advance. But Sir, should such a circumstance arise and one is unable to invest under Sec 80 C, one can always deposit income tax later on and show it in his return, isn’t it Sir ? So what’s the harm in submitting it earlier ? Regards Sagar

    • Sagar

      The only thing is in the start of year you can just say that i will invest in tax saving product and hence there will be no tax, but how do you prove that you can failin this , what if for some reason you are unable to put money in tax sving products ?

  49. ragu

    i am an agriculturist .i have some bank deposits in different banks and filing every year 15gform also now my question is whatever my totaldeposits intrest is lower than the tax limit, is any chance to make TDS on my deposite intrest? pls inform me any one.

    • Raghu

      First thing to know is that you have to deposit form 15G each year in the start .. now coming to your question , if your total interest income is below the taxable limits, no TDS would be cut !

    • Ranjit

      It can be filled by anyone , yes FD of 9 lacs means more than 90k interest per year and there will be TDS , better to fill Form 15G if she has no taxable income at the end of the years


    • In that case you should fill form 15G , one more point , if she is a MAJOR , its fine , the income which will happen will be treated as her income , but if she is monir (below 18 yrs) , legally the income from FD (as interest) will be part of your income ,its now up to you , if you want to show it legally as yours income or hers .


  50. darshan vassal

    I am a banker, i want to know the date for forwarding 15h/15h to income tax deptt which is submitted by customer to bm.

  51. Sambit Bose

    Hi Manish,

    Thanks for initiating such a useful discussion. I have some queries. I have made FDs for a term of 5 years in order to show it as an investment under 80C. Now pls tell me whether these FDs that are made in order to exempt tax are applicable for TDS also.


    • No , those FD’s are just tax free under 80C, means you save tax on the amount invested, but that does not mean that the interest part is tax free . you still have to pay the tax on it .so if interest part is more than 10k in a year, there would be TDS

  52. Shaikh M Taher

    Dear Manish,
    I am just having small amount in FD,ie 30,000/-Rs for 5 Years , still do i require to fill up Form 15 G?

    • Yes .. your total interest would be more than 10k , in that case the bank would be able to track it (assuming all FD are in same bank) .

      In that case TDS would be cut, hence you should fill form 15G if you dont want TDS to be cut

  53. Abhishek

    Dear Sir/Madam,

    I request your advice on the below case:

    Say I am earning Rs. 9,000 from my FD at a bank in a financial year. In the same period I earn interest amount of Rs. 1,800 from my saving A/c and Rs. 1200 from RD account in the same branch.
    Will the TDS be deducted by bank on my interest amount in this situation? If yes, how much amount will get deducted provided they have my PAN number.

    Abhishek Dixit

  54. shiva

    shiva: how to exempt from tds on AP:MAHILA PODUPU SANGAM LOANS.
    my mother as a leader in mahila podupu sangam and taken loan from the bank but they deducted TDS on that amount any suggestions please help..


    if i have submitted form 15H/15G to my company, not to deduct tds on my charges….shall company deduct tds..

  56. Suresh

    Hi Manish,

    I want to clear few of my doubts regarding TDS Deduction.

    1) I am working in a Private company, will pay Tax around 25K at the end of the Financial Year 2012-2013.
    This 25K Tax will be on my total salary which i will earn during the Financial Year.
    Now suppose in a bank, 2k gets deducted as a TDS, and the Bank gives me the TDS deduction Certificate.

    Now while Filing the IT Return Form when i will Submit Form 16 along with the TDS Deduction Certification issued by the Bank, then this 2 K will be returned or what? and if its returned then how much time it will take?

    And one more thing exactly when did the Bank will issue this TAX Deduction Certificate. Can i adjust this 2K deduction in my company tax deduction so that instead of paying tax 25K i will pay 23K only.

    2) How the TDS deduction used to be calculated-
    Suppose i have a bank account with the following details:
    Saving Account Balance: 200000
    A FD of 35000 for 5 Year (Tax Saver)
    A FD of 20000 for 5 Year (Tax Saver)
    A FD of 50000 for 1 Year
    A FD of 50000 for 2 Year

    Now i wanted to know how the TDS gets calculated, i will be earn some intrest amount on my account balance 200000 (for ex 4%), Then i will earn some intrest on all the respective FD’s with their respective intrest Rates. So while Calculating the total Interest earned in a year will be added together while calculating TDS deduction or what?

    3) To Avoid the TDS Deduction:
    As i have seen in the Forum someone asked to open a FD in a diff-diff Banch of same bank. Will it work? If i will open a FD then automatically my Customer ID(In That bank) will be linked to that FD. and the Bank can easily track all my FDs.

    But if i will open the FDs in different-2 Bank itself then obviously one bank will not be knowing abt others, But here again there is a problem. I personaly visited some banks regarding FDs and they told that a Saving accout is mandatory for opening the FDs. Now if i want to keep FDs in Diff-2 Bank then i will end with many Bank Accounts and worst thing is that i need to keep the minimum Balance in that account.

    4) Regarding Form 15G/15H
    1) Is it safe to submit this form if i am already paying Tax?
    2)And these forms need to submitted on Yearly Basis or What?
    3) If i have TDS deduction in more than one Bank then do i need to submit in each Bank?

    Could you please answered these queries?

    • Suresh

      I can see you are not very clear on how taxation works . What your company is cutting is tax on your salary , that you have to pay anyways

      Your bank is cutting TDS on the yearly interest you will earn on your FD . You must be clear that you also pay tax on any kind of FD interest earned in the year . I can see that you have around 1.5 lacs of FD in total . now assuming the average yearly interest rate of 10% .. the interest will be around 15,000 per year ..

      Bank interest is taxable and you need to pay tax on this and note that it is on accrual basis , means even if you get it later , you need to pay tax on that this year itself .

      Now in Banking , if your interest is above 10k , TDS is cut , TDS is tax in advance cut by bank , so they are cutting Tax which you need to pay and directly giving it to bank

      Now when you file your returns , you can mention that already TDS is cut and hence you dont need to pay additional tax . Why do you think you should be getting it back ?

  57. umang

    i had given a property on rent. the rent is 24000 per month .property is on my uncles name his age is 80 years
    do i have to pay TDS ,
    or i can fill form h15
    uncle is liable for tds..????????????

  58. Srinivas

    Recently i experienced the following situaltion.

    I have aHUF account and am submitting 15G for it to get exemption from TDS. I was told that i have to provide a 15G for each FD to be exempted.

    Till now i was thinking that if i submit 15G once a year, it will be sufficient for all deposits etc of that accunt for that year.

    Bank officer told me otherwise.

    Can anyone please clarify.


  59. Anil Bahal

    Dear Manish,

    I am an NRI and have some FD’s in India from which some TDS has been deducted. To claim the TDS, can I give for 15G? If can not be given then which ITR form should I fill ITR 1 0r ITR2 to claim the TDS deducted.

    Thnaks in advance.

  60. Sooraj

    I am salaried and i pay tax according to my tax slab. Now i saved around 5 lakhs and want to FD the amount. Annul interest on 5 L would be 40 K per Year. will i Still pay tax on this 40K or can i submit 15 G to avoid tax on interest earn on FD.

    As those 5 Lakhs are saved after taxes were deducted from my total earnings?

  61. Sooraj

    Hi Manish

    Thanks a lot for Prompt reply……

    so now i am planing to make fixed deposit in my wife a/c as she is house wife and does not earn any income.

    can this help us in saving tax on interest earned out of FD’s.

  62. Vijay Kumar

    Dear Sir,

    I am having FD’s in SBH and I am earning interest on above FD’s more than Rs. 10,000/-, I have submitted the Form 15G to the bank for the FY 2011-12, But recently we came to know from the bank they have deducted the TDS on interest income @ 20% and It is understand from bank they have misplaced the Form 15G they have not updated in their records. In this regard we have approached the bank for refund of the deducted TDS in reply they have told they will issue Form 16A with that I have to file IT return for 2011-12 to get the refund, I have verified in Form 26AS but the deduction TDS amount not reflected in that. My doubt is if I file IT return for 2011-12 (AY2012-13) can I get the refund my salary income and Interest income put together below taxable limits only.

    Please give your valuable reply

    thanking you sir

    • NO , You dont understand that form 15G is only for those whose taxable income is below the limits , in your case, you were not support to give form 15G itself , TDS saved does not mean Income tax saved. TDS is just advanced tax , all you need to see is, if your income tax paid is more than income tax liability you had , if yes, then file the tax return , else not !

  63. Anoop Francis

    I am working abroad. I have opened an FD in my wife name. She is an house wife having no other source of income. And bank has asked me to fill the form 15G. does this form needs to be filled on my behalf or on my wife behalf. And this needs to be send to the bank only or does this needs to be submited to IT dept.

  64. J.Prakash

    Sir, please help me. I’m a salaried person and paying income tax. My wife is not employed, has FD and the interest is above 10,000 but less than 1.9L which is the limit. In this case I understand that my wife can submit Form 15G to get tax relief.

    My concern is that my wife’s income (from FD) should be added to my income while submitting ITR?? Awaiting your reply.

    Thx n’ rgrds


  65. Nitin Gupta

    I want to know that Pvt. Ltd. companies taking Unsecured loans from various individuals can accept Form 15H & 15G respectively.

  66. umaid rathor

    I have opened a three yr FD and would get an interest of 150,00 at the end of tenure. Would this be counted as a lumpsum or would it be treated as 5,000 per year?

  67. Sandeep

    Sir, I deposit FDs of small amount (Rs.20,000) at various branches of HDFC, however the total Interest earned from all the FDs doesn’t go beyond Rs.2500. Should I file 15G ? Also, isn’t the limit of Rs.10,000 per branch ?

  68. Sitaram

    Hi Manish,

    We have an FD for 2 years starting from Jan’2011 and I have submitted 15G at the time of booking FD, and opened a RD on 2012 Oct which gets matured on 2013 Oct.
    Now I need your help to understand that
    Do I need to submit 15G every financial year with respect to each FD & RD? or I can ignore as I have already given at the time of FD booking?

  69. shivaramakrishna

    Hi Manish my father was open a FD 500000 for 3 year in that time he does’t know the form 15G. they have deducted the TDS on interest income 10% So how can we get the TDS refund Please help me

  70. Rajesh

    I am less than 60 years old. I have an annual income of 2.5 lacs (Salary 1.5 lac/year + Interest from FD 1 lac/year) during the FY 2012-2013. I pay 1 lac for PPF. So my taxable income is nil for AY 2013-2014. But my overall income is above the 2 lac slab. Am I eligible for form 15G submission during the FY 2012-2013.

    In other words, will the interest income from the FD (for which I am planning to submit the 15G) be added to the total income while considering eligibility for 15G?

  71. Venkatesh

    Hi ,

    I am Indian Resident and less than 60 year old.
    I have two separate FDs at HDFC Bank.
    1> 3 lac for 6 months 16 days and maturity being May 19th 2013.
    2>2.5 lac for 6 months 16 days and maturity being June 19th 2013.

    Do i need to submit form 15G to avoid TDS ?


  72. Ajay


    Can a tax payee also submit 15G (less than 60 years) and later depending on the actual income/tax amount, pay the remaining tax amount before filing the returns?

    What I mean is, TDS is deducted from my salary by the employer. When I have to furnish the “income from other sources”, I will declare the interest from FDs, etc. What I want to do is, I dont want the bank to deduct the tax (TDS), but I will pay the tax amount after calculating before filing the IT returns.

    I only want to avoid going into a situation of getting a refund from the IT department for obvious reasons.

    Is this possible?


  73. amar k

    Can we give the form 15G/H to the Bank directly just by filling that form or we have to get any seal from IT Dept. i.e shall i have to intimate this to IT Dept first and then give to bank

  74. amar k


    Is it necessary while giving the form 15g/h to bank that we have to inform IT Dept. first i.e have to get IT Dept Seal on these forms

  75. A Singh

    I am a student.I am unmarried.I am getting Rs 18000/month as scholarship . I also have a Rs 5lakh FD on my name and I am getting Rs 44000 as interest from this Fixed D eposit .I have no other source of income.I do not want TDS to be deducted from my FD.Can I submit form 15 G.

    A Singh

  76. Tayu

    I’ve joined the World Bank, where the salary is tax free. What IT forms should I file to this effect and when? I’d be glad to hear from you.

  77. bishu

    I have a fixed deposit with SBI
    Principal amt. Rs. 50000/- , maturity value Rs. 54788/- ,
    Date of issue 17.02.2012 , Date of maturity 17.02.2013 (Tenure 1 year)
    I have not submitted any 15G form so far. will there be any tax deduction at the time of maturity ?

  78. bishu

    Dear Manish,

    I am interested about share market and want to invest in it. but i am a novice, and practically have no knowledge about it. would you please guide me so that i can start investment in share market and get necessary informations like : demat A/C, online share trading, stock, IPO etc.

    also i would request you to tell me what are the risk factors and what precautions should be taken for share trading.

  79. prabhu

    Hi Manish,

    I am salaried employee and my net income per annum is around 5 lac. Every month income tax is deducted from my salary and remaning amount is credit to my account.
    I have maid some FD’s in banks arround 3 lacs and i am getting SMS from bank saying that please submit form 15G/15H to get TDS waiver for this financial year.

    is it necessary to me submit the 15G/15H form to bank?

    • CA Deepak Vagrecha

      Hi Prabhu,
      As you mention your net income per annum is 5 Lac Rs. apart from Interest Income.
      Form 15 G/H require to submission only when your income below to exemption limit . Since your income more than exemption limit you should not require submit to form 15 G/H.

  80. Ashok

    Hi Manish,
    Am salaried and am having casa sweeping FD with the amt of 1,00,000 INR and the returnable value after one year is 1,09,450 INR and FD period is 01.11.12 to 17.11.13 after putting FD i have got a SMS from the bank is stating that “Please submit form 15g/h to get TDS waiver for this financial yr at earliest pls ignore if you are not eligible for the same”
    So, i have not submitted any 15g form as on date.
    1. Is there any tax deduction on 17.11.13 ?
    2. If yes, how to avoid tax deduction..?

    Thanks in advance.

  81. dharmendra

    my income around Rs.190000/- per year and Rs.80000/- bank interest per year around totel income Rs.270000/- and Rs.100000/-invest lic,tax saver bond and nsc (80C) in. i can submit form 15G ? do compulsory return file yes or not ? i am not senior citizen.

  82. rakesh malik

    in a partnership firm if firm will pay interest above rs.10000.00 on unsecured loan and interest receiving person whose total income is below rs.2 lac. will give form 15g
    then what will be the duty of firm i mean the firm doesn’t have TAN and not interested to file TDS return. so please guide me about that.

    rakesh malik

  83. nafees

    hi, my querry is regarding intrest earned in saving acount exceeds 10000 rs. in a year . will it be count in my income earnd in that particular years . actually i am salaried and getting 360000 gross and after all exemptions under hra and ta and 80c. my texable income is below the 200000.

    2. should i file the income tax individually if my office is issuing form 16 with nil tax .or is it necessary to file .


  84. ashok kumar

    I have two FDs in different banks and the interest earned on them is one lakh and three lakh each respectively(total=4 lakh). I have invested one lakh in PPF.So my total taxable income is three lakh and i am supposed to pay a tax of 10% on one lakh( 3 lakh-2 lakh) which comes to 10,000. If i don’t submit form 15G,banks will deduct 40,000 (10,000+30,000) .Can i submit form 15G only in one bank where my investment is 3 lakh and let the other bank where only 1 lakh is invested deduct tax of 10,000 and file return to avoid refund.

  85. Rajan Doshi

    Dear sir,
    I have own proprietorship business in which I have taken loan from different individuals in that case if I have to deduct TDS from the interest payment done to them? & if that individuals are issuing me form 15G then What I have to do for the purpose of non deduction of TDS.

  86. Santhi

    If I am not sure whether my income will exceed taxable limit now but will have an idea about my annual income by August/September. can I file form 15G around that time or should it be filed earlier? My expected fd interest will be 12000 during the year.

  87. Ravindra

    Hello Sir,

    I am a salaried employee. My taxable income every year comes under the 20% tax slab. So I am anyway filing IT returns every year. Suppose if my income earned through Fixed Deposit Interests is say Rs20,000.
    1. Will I get back the tax deducted at source after filing the IT returns? I feel in my case, I have no benefits even if I submit the Form 15G. Am I Correct?
    2. What if I manage multiple FD deposits in different banks. Each earning me interest less than Rs10,000. That way I can avoid the TDS situation, even though it looks illegal! :)

  88. Pankaj Ambalal Patel

    hello Sir,
    My date of birth is 20th February 1954.

    which Form I shoud I have to submitt to nationalised Bank to avoid TDS on my Interest Income of Fixed Deposits with nationalised bank for F.Y. 2013-2014 assessment year.
    Please guide me.

  89. JAMES


    • James

      You can give a Form 15G to avoid TDS , the money you have sent to her , the income out of that will be treated as your income as the source of money is you . But even then your tax liability will be ZERO , She cant put 15G as her taxable income is above the limits.

  90. JAMES


  91. Rumi

    My husband is an NRI and this FY send about 1050,000 INR to my savings account & I have done FD of RS 700000 out it. I also have an anual income less than 1.9 l. can I submit for form 15 g? is there any problem for sending money to saving account?Pls advise

  92. G.V.N.Prasad

    Please inform me , whether filing of IT return on ITR-2 , is compulsory , in cases , where Form 15-G / H is periodically submitted to the banks every year , by the non- tax payers ( ie. whose income below tax range ) and whose interest on deposits exceed Rs. 10,000/- per year.

  93. Santosh

    Hi Manish,
    My annual income is 5L and interest earned from FD is 7000 per annum.Will i have to pay any tax on the interest earned???
    What i need to do when my interest from FD is more than 10000 per annum??
    Thanks in advance!!!!

  94. umesh rajurikar

    it mandatory to quote valid pan number in 15g/15h. if the deductee is minor having fds in banks and exceeds the limit of 10k interest in fiscal, to avoid TDS he has to submit 15g, so shall he quote guardian’s pan number or he should apply for new pan.

  95. sameena

    my co has taken a car loan from reliance capital. what is the tds rate on interest portion . explain with a example.

  96. Kajal

    Hi Manish,
    I am not much aware of these thing so wanted to clear few of my doubts. Suppose if i have a salary which comes in 10% of tax slab. And i have an FD of 1lac on which i am gaining Rs.8000/- annually then what should be done?? i mean do i need to fill 15G form?? And how much amount will be deducted for Tax from this interest?? please guide me thru this..

  97. samy jain

    As a banker, I am facing an embrassment, to receive Form 15G, from those whose salaried incomes are of range of Rs.5 lacs and above. What can I do in such situations?

    Further, A senior citizen of age 80 years submitted form 15H for a deposit favouring jointly with his wife, himself and his daughter in the same order payable to any one or survivor. Can I accept from him on behalf of his wife.

    Some are not submitting in duplicate to enable me to send one copy to the IT dept.

    Kindly advise me.

  98. Abu

    I made a FD of 1.5 lac, what form i need to submit in order to escape from Tax deduction. please let me know.
    Thanks in advance.

  99. Dinesh

    Hello Manish,

    I am 39 years & in 30% tax slab. i have few FDs in a bank and the total interest i am going to get from that is more than Rs.10000/- I have also registered my PAN with bank. I want to know two things.
    1. Is it mandatory to submit form 15G to the bank as i have registered PAN with the bank? (I am assuming that the tax will be deducted by bank @10% on the interest earned on FDs as i have registered my PAN and i think submission of form 15G is not necessary. Let me know if i am correct)
    2. If i do not submit submit form 15G, will the bank deduct tax @20% or more on the interest earned from FDs?


  100. umesh dutta


    my wife have a fd of rs.45000.00 in bank @9% p..a. bank says you have to submit form 15 G and before that you must have pan number also. she is not earning anything and never file tax return. is pan number must for form 15G.

  101. D Kastha


    I am a senior citizen aged 62 with an estimated income from pension and bank interests etc. of around Rs.4.3 Lakh. I am looking to invest Rs 1 Lakh and avail the maximum tax benefit under chapter VI(A) and bring down my taxable income to around 3.3 Lakh. Shall I submit form 15H?

  102. Mani

    I had finished a project work for 4.2 Lacs in educational institution , in the final payment they are deducting eight thousand as TDS, how ever my profit earned is forty thousand only. How to get my payment without TDS.

  103. Vicky


    Does 15G is branch specific? In today’s online world(I guess, where ever you open FD, those are linked to customer ID in online), if I opened 1 FD for 20L and submitted 15G for that. Can I open another FD for 20L for the same bank at different branch and submit 15G for this?


  104. SARA




  105. b. y.madiger

    hello ,

    i am retired from service. i have kept my terminal benefits as fixed deposits in the bank with joint names of my wife & two unmarried daughters & submitted 15h form as a senioner citizen, amount is around 20lakhs, whether tds is avoidable ? to avoid tds please advise. i am a tax payee.

  106. cgdgfjf

    Dear Manish,My annual income is Rs.300000 per yr as interest from fixed deposits,and I don’t have any other source of income. I have submitted 15G form to bank for preventing deduction on TDS, As my income is 3 lakhs per yr,Do I have to file income tax? Is it necessary to show income from interest?

    • Obviously your income is in taxable limit , if you are not investing in 80C products, then you need to pay 10% tax on additional 1 lac above 2 lacs limit and tthat would be 10,000


  107. Rakesh

    Hi Manish,
    I have joined a firm 2 months ago…when I was checking the data, i noticed that one person has submitted Form 15G even though his total interest income is above the taxable bracket (i.e Rs. 2,00,000/-). When I asked him, he said after claiming deduction under Sec 80C, his total income comes below the taxable bracket. Now my query is that can he submit Form 15G or if not, who is defaulter in the eyes of ITO, the person who submit Form 15G or we, who didn’t deduct TDS and accept the form. What may be the liability on this for both side …. plz clearify.


    Every person has to submit TDS to the Govt.because you are not only cheating to Govt.but also cheating to yourself.


    Dear Manish Chauhan Sir,

    Please let me know the taxability on interest income in the following case:
    a husband and wife has FDs with bank totalling 25,00,000/= and the interest rate is 9.5%p.a. the FDs are in the joint names of husband and wife. the interest per annum credited to SB a/c amount to approx.245,000/=.
    please let me know whether the interest income will be taken as income of husband alone or wife alone or will be divided equally among husband and wife for tax purposes. they have no other income liable to tax
    both are below 60 years of age and whether IT return has to be filed in this case?
    please clarify sirs

  110. G.V.N.Prasad

    Hi Manish,
    Please inform whether filing of return is compulsory for senior citizens ( 60 yrs. & above age ) , who are pensioners , come under taxable range.


    i have a RD (Recurring Deposi) with SBI bank for 10 years .it will mature 10september 2023 ,at that time i will get 213500 (132000-principle and 81500-interest) .
    my question is —-1) tds is applicable in case of RD


    the Income Tax Return file the of Income Tax Department in Range Office. As like in which office file the form of 15G and 15H. Example of Office is Chief Commissioner of income Tax or Commissioner of Income Tax , Additional Commissoner of Income Tax , Income Tax Officer, Income Tax Officer(TDS), Income Tax officer(Audit), Investigation Department of Income Tax. Please Clear the concer office.

  113. dominica m anita alemao

    please may i know if a minor, with a pan of his own, can submit the form 15g for fixed deposits kept in his name by his father? will there be issues if fixed deposits are opened with the minor as the first person as each bank interprets the rules differently. thanq!

    • there is no distinction on this for minors and major . The only thing is that if your income does not cross income tax limits , but your TDS might be cut because the interest is more than 10k , then better file 15G to avoid tds


      • dominica m anita alemao

        Thank you Manish Chauhan. There is a lot of doubt regarding investing in a minor’s name by the parents to avoid being taxed.

  114. dipti ganguly

    If I pay advanc tax on income from FD interset properly,then whether I can I can submit 15G for non deduction of tds

  115. prodip de

    i have invested rs. 25000 FD on 25.09.2013.Bank will give me interest @9%.it will mature after 1 year. my annual income is rs.195000.can i submit form 15g/h?

  116. Ashish Das

    My mother aged 60 years made an FD of Rs 10,000/- in sahara way back in 2002 and this year it matured an amount of Rs 40,000/- will be paid by sahara. Whether she required to file 15h and our sahara Agent by mistake filed 15g so I am little confused. What will happen. Please answer.

  117. Shail

    Hello Sir,
    My Father’s age is 61 and his income is NIL.
    However, his interest earned on FD’s is coming to around 2,55,000.
    he has already submitted Form 15G/H.
    I wanted to know if the bank would now cut a straight 10 percent on the complete interest of 255000 OR only on 5000 that is exceeding as per his tax slab.
    He has no other investments.


  118. diya singh

    Hell sir, I have 5 lac FD which interest amount will com in 6 month after deduction of tax even I have submitted 15 G form
    please suggest what should I do..

  119. teja

    hi manish,
    i have made 2 fixed deposits for just 60 days period for which i ll get 5400/- interest. do i need to submit 15g/h form?

  120. MADHUR

    i wanted to know do we need to fill form 15G everytime i make an F.D in a financial year or the form submitted in the beginning of the financial year is enough and the F.D’s made afterwards in that financial year gets automatically linked to the form.
    Kindly help me with this.

  121. sandhya

    say if I make a fd of 5 lakhs and i fill in a 15g form as my income is not entitled to tax but during the course of the year my business earns an income above the taxable limit then when i file returns i will be paying a tax on the interest income as well right…

    or is it possible that one can use 15 g to pay taxes on their interest income in the assessment year itself so that it is not deducted at source… can taxes be deferred to the AY

    appreciate your reply


  122. Manoj Taneja

    Sir, i m a salaried person. i can issued a 15G form to my bank for saving TDS. i have not pay any tax in pervious year. Please advice

  123. Avinash

    Hi Manish,
    In Aug 2014 , I have made two FD account 2 lac and 9 lac of each for 1 yr but from last two years I have paid 0 INR tax for last two years as my income from salary is less than the taxable slab. this year also my income will be less than the taxable limit.

    Now my question is whether I can fill the 15G form or let the bank deduct the TDS.
    which will help me more to save my money TDS or 15G?

    whether I can fill the form 15G now for this financial year?


    Hi Manish,

    Hope you are doing good.. I have a small query. Is Form 15G/15H required to be filled in case of Tax-Saving FD u/s 8oC for five years???

    Since I know there won’t be any tax arising on my income for the F.Y. 2014-15.

    Awaiting your response on the same.

    Hitesh Gupta

  125. RAJESH

    Hii Manish,
    What about if I am a consultant and get deducted TDS at source . Can I submit form 15 G to my company and ask them not to deduct tax ? My tax liability is zero actually because of investments. But companies deduct TDS on my professional services. Can this form useful thr ? Pls suggest.


  126. NR Narasimha

    Hi manish,
    I had opened FD in Dec 2012 for an amount Rs 50,000 for 3 Years and got matured in Dec 2014 with an interest of Rs 16500.
    My question is whether
    1. for an amount Rs 6500(16500-10000) bank has to deduct TDS(10% of Rs 6500 i.e Rs 650 ) or
    2. the interest is apportioned year wise so that 2014-15 year ends with only Rs 5500(16500/3) and no need to deduct TDS as the interest amount is less than Rs 10000 .
    But the Bank has deducted Rs 948 towards TDS. please clarify

  127. Theji

    Hi Sir

    I have a done an FD for Rs. 7000 in 2012 in SBI.
    On 31-Mar-2013, I could see the following three transactions on my deposit account.

    31-Mar-2013 (31-Mar-2013) TAX ON PREVIOUS INT 1,763.00
    31-Mar-2013 (31-Mar-2013) TAX DEDUCTION 136.00
    31-Mar-2013 (31-Mar-2013) CREDIT INTEREST 680.00

    Here I do not understand the ‘TAX ON PREVIOUS INT’. Please let me how this is arrived at. Moreover I do not have any source of income, so I do not file returns. When I login to Income tax site and check my Form 26AS, I do not see this tax there at all. Please help me

  128. pramod kumar

    sbi bank a/c me ek PAN se kitne a/c ka KYC ho sakta hai?kyoki mera sbi ke ek branch me tin a/c ( salary, PPF,Joint a/c jo wife ke naam se hai) hai aur ek a/c joint dusre stste me hai.maine salary a/c se ek FD, tin saal ke liye karvaya tha.lekin bank ne mere FD se 20% TDS kat diya hai.ve bol rahe hai ki apka PAN salary a/c se nahi juda hai.jabki maine sabhi a/c ke KYC ke liye PAN card ki copy di hai.ve bol rahe hai ki apka pan sirf do a/c me jud sakega.agar apko salary a/c me PAN judvana hai to kisi ek a/c PAN hataiye.mai kya karu?

  129. Manish kumar meena

    My mothers(48) annual pension is 275,000
    Plus she earns 95000 from her two FDs
    Bank 3yrs ago told us to submit 15g, we naively submitted it (there after every year)
    She havent filed any income tax returns yet
    As now when i became some tax literate i think bank misled us on submitting these forms
    Whats the way out?

  130. praveen

    i had deposited 64000 in bank for one time. the bank officials said that u are liable to pay TDS. the above said income deposited for saving purpose only ..
    even sb deposits are also liable for tds purpose? how can claim my money? in what sectors tds is not applicable

  131. harman

    Sir please explain.. My gross salary is 270000 which is taxable if i invest rs 100000 under 80c . can i submit 15 g form ?

  132. mrigen

    Sir, I am a salaried person And have monthly salary gross Rs 17,000/= . I opened a recurring deposit of Rs. 10,000/_ monthly in the year Jan/14. for 3 years. Am I eligible for TDS ? Can I be benefit ed by submitting 15G form? So far no income tax have been deducted from me by the govt.

  133. NEHA

    hello sir,
    i want to know if i am having joint FD with my husband who is salaried ,
    and the first name is mine.
    am i liable to fill the form 15g??

  134. deepak

    If i invest 1lac each in 3 branches of sbi bank. Interest earned for 1 branch is less than 10k. It mean i dont need to submit 15 form right?


    I will receive interest income from two finance companies ( from fixed deposits)
    for the year 2015-16 of Rs 3,00,000/- ( not having any other income) and i would like to invest Rs 50,000/- in 80c/80cc/80ccd. Whether I can submit 15-g to finance companies. or I have to claim a refund of Rs 30,000/- ( being 10% of TDS) duly submitting the IT return.


  136. sangeeta


    My sister is house wife and she is having no earning.But she is having FD aprox 5lac(Interest rate is 8.25%) for this(1Year) in SBI account.She can fill the form 15G or not.

  137. sudershan

    Whether a senior citizen pensioner (who’s income tax liab is > 10000 from salary+interest) is in order in filing Form 15-H and and he pays full tax as Advance Tax by 15th Mar in lieu of TDS in lieu of the following ?
    “As per section 207, a resident senior citizen (i.e., an individual of the age of 60 years or above) not having any income from business or profession is not liable to pay advance tax”.

    • Hi sudershan

      Your cases is a bit complex and I think we are not the right people to comment on it.

      My suggestion would be hire someone who is professional in this area and consult them


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