Ask Veda

TaxClue AI · Active
Namaste! I'm Veda — TaxClue's AI assistant.

Ask me anything about GST, Income Tax, Company Registration, Trademark, or any compliance topic. I'll give you a direct answer.
Free Expert Consultation
Powered by TaxClue · India's Trusted Compliance Platform

Form 15G & 15H — Stop TDS on FD Interest and EPF Withdrawal

Updated: 3 June 2026  |  Income-tax Act, 2025  |  Banks & EPFO  |  Annual Submission

Form 15G (for individuals below 60) and Form 15H (for senior citizens 60+) are self-declarations submitted to prevent TDS deduction when your total income is below the taxable limit. Submit to banks to avoid 10% TDS on FD interest above ₹40,000/year, and to EPFO before EPF withdrawal (if service <5 years and amount >₹50,000). Submit once per financial year to each institution.
₹40,000
TDS threshold on bank FD interest per year (₹50,000 for senior citizens — Budget 2025).
Submit Form 15G/15H at the start of FY to your bank branch if your total income is below the exemption limit.

Form 15G vs Form 15H — Key Differences

ParameterForm 15GForm 15H
Who filesIndividual below 60, HUFSenior citizen (60 years or above)
Age conditionBelow 60 years60 years or above
Income conditionEstimated total income below basic exemption (₹2.5L old regime)Estimated tax liability for the year is NIL
Interest income conditionTotal interest income must also be below exemption limitNo condition on interest income amount
BenefitNo TDS on interest/incomeNo TDS on interest/income

Senior citizens can submit 15H even if their FD interest is ₹5 lakh or more — as long as after 80TTB (₹50K deduction) and other deductions, their estimated tax is nil.

Where to Submit Form 15G / 15H?

InstitutionTDS TriggerForm Required
Bank (FD interest)Interest > ₹40,000/year (₹50K senior)15G / 15H
Post Office (NSC, KVP interest)Interest > ₹40,00015G / 15H
EPFO (EPF withdrawal)Withdrawal ≥ ₹50,000, service < 5 years15G (below 60)
Mutual Fund (dividend)Dividend > ₹5,00015G / 15H
Insurance company (maturity)Maturity proceeds above threshold15G / 15H
Employer (rent income)Monthly rent > ₹50,00015G / 15H

Frequently Asked Questions

What is Form 15G and who should submit it?
Form 15G is a self-declaration form submitted to banks, EPF, or other institutions requesting them NOT to deduct TDS on interest/income. Eligible persons: Individual or HUF (resident), age below 60, whose estimated total income for the year is below the basic exemption limit (₹2.5 lakh old regime / effectively ₹4L+ new regime) AND whose total interest income is less than the basic exemption limit. Submit at the start of each financial year.
What is the difference between Form 15G and Form 15H?
Form 15G: For individuals below 60 years and HUFs. Condition: total income must be below basic exemption limit (₹2.5 lakh old regime). Form 15H: For senior citizens (60 years or above). Condition: estimated tax liability for the year is NIL — no requirement that income must be below exemption limit. Form 15H is more beneficial for senior citizens with higher incomes (up to ₹7-8 lakh after deductions).
How to submit Form 15G for EPF withdrawal?
For EPF withdrawal under 5 years of service (to avoid TDS): Submit Form 15G on EPFO portal while making the online withdrawal claim. Under Online Services → Claim → after selecting Form 19/31/10C → there is an option to upload/declare Form 15G online. Conditions: PAN must be registered with EPFO, withdrawal amount ≥ ₹50,000, and your total income should be below the basic exemption limit.
When should Form 15G be submitted to bank?
Submit Form 15G to your bank at the beginning of each financial year (April). Banks deduct TDS at 10% on FD interest if it exceeds ₹40,000 per year (₹50,000 for senior citizens). Submit Form 15G/15H to each bank branch separately where you have FDs. If income is only FD interest and is below basic exemption limit, Form 15G prevents unnecessary TDS deduction.
What is the penalty for submitting false Form 15G?
Submitting a false Form 15G/15H (when your actual income exceeds the exemption limit and tax is payable) is a criminal offense under Section 277 of Income-tax Act. Penalty: imprisonment of 3 months to 3 years + fine. Always assess your total income honestly before submitting. If your income exceeds the threshold mid-year, inform the institution and pay self-assessment tax.

Related Pages

TDS Guide PF Withdrawal NSC Investment TDS on Rent Senior Citizen Tax File ITR
◆ Available in 71 Cities

Form 15g Near You

Expert CA/CS assistance for form 15g across India. Click your city for local details.

→ New Delhi → Mumbai → Bengaluru (Bangalore) → Hyderabad → Chennai → Kolkata → Pune → Ahmedabad → Noida (UP) → Gurgaon (Gurugram) → Jaipur → Lucknow → Chandigarh → Surat → Kochi (Cochin) → Faridabad → Ghaziabad → Greater Noida → Panipat → Sonipat → Manesar (IMT) → Dharuhera → Mathura → Palwal → Agra → Kosi Kalan → Aligarh → Khair → Jewar (Noida International Airport) → Kanpur → Varanasi (Kashi) → Prayagraj (Allahabad) → Meerut → Bareilly → Moradabad → Gorakhpur → Firozabad → Saharanpur → Muzaffarnagar → Bulandshahr → Hapur → Karnal → Kurukshetra → Ambala → Hisar → Rohtak → Yamunanagar → Rewari → Bhiwani → Jodhpur → Udaipur → Kota → Ajmer → Bikaner → Ludhiana → Amritsar → Jalandhar → Patiala → Mohali (SAS Nagar) → Bathinda → Dehradun → Haridwar → Rudrapur → Shimla → Solan (Baddi-Barotiwala-Nalagarh) → Bhopal → Indore → Gwalior → Jammu → Srinagar → Panchkula