Form 15H — TDS Declaration for Senior Citizens (FY 2026-27)
Updated: 3 June 2026 | Income-tax Act, 2025 | Section 197A
Submit at the start of every financial year before the first interest credit. Available only under the old tax regime.
What Is Form 15H?
Form 15H is a self-declaration form prescribed under Section 197A(1C) of the Income-tax Act, 2025. It is specifically designed for resident senior citizens — individuals who are 60 years or older during the financial year. By submitting this form, you declare that your estimated total income for the year does not exceed the basic exemption limit, and therefore no tax is deductible at source.
Banks, post offices, NBFCs, and other payers of interest are required to deduct TDS at 10% (or 20% if PAN is not provided) when interest income exceeds ₹50,000 per year for senior citizens. Form 15H prevents this deduction when your income is genuinely non-taxable.
Eligibility to Submit Form 15H
- Age: Resident individual who is 60 years or above at any time during the financial year
- Tax liability: Estimated total income (all sources) for the year must be nil — i.e., below the basic exemption limit under the old tax regime
- Regime: Applicable only under the old tax regime. New regime taxpayers cannot submit Form 15H
- Residency: Must be a resident Indian. NRIs cannot use Form 15H
- PAN: Valid PAN is mandatory — without PAN, TDS is deducted at 20%
Form 15H vs Form 15G — Key Differences
| Feature | Form 15H | Form 15G |
|---|---|---|
| Who can submit | Senior citizens aged 60+ | Individuals below 60 & HUFs |
| Condition on tax liability | Tax on total income must be Nil | Tax on total income must be Nil and interest income ≤ basic exemption |
| Income cap on interest | No separate cap — only total income must be non-taxable | Interest income must not exceed basic exemption limit |
| Applicable section | Section 197A(1C) | Section 197A(1) |
| Super senior citizens (80+) | Yes, eligible | Not applicable (they are 60+) |
| New tax regime | Not applicable | Not applicable |
Where to Submit Form 15H
Form 15H must be submitted to each payer of interest separately:
- Banks — for FD, RD, savings account interest (if exceeding TDS threshold)
- Post Offices — for Post Office FDs, NSC, SCSS interest
- NBFCs / Finance Companies — for deposits and debenture interest
- Companies — for interest on bonds or deposits
- EPF/EPFO — Form 15H is accepted for PF withdrawals to prevent TDS
If you have FDs at multiple branches of the same bank, submitting at the main branch usually covers all branches — but confirm with your bank. For different banks, submit separately to each.
How to Fill and Submit Form 15H
- Download Form 15H from the Income Tax portal or collect from your bank branch
- Fill Part I: Name, PAN, address, financial year, estimated income, and declaration
- Fill Part II: Details of all Form 15H declarations filed with all payers during the year (if any)
- Sign and submit before the first interest credit of the financial year — ideally in April
- Online submission: Most major banks (SBI, HDFC, ICICI, etc.) allow Form 15H submission through net banking / mobile banking
Validity of Form 15H
Form 15H is valid for one financial year only (April 1 to March 31). You must submit a fresh form at the start of every new financial year. There is no carry-forward — failure to re-submit means TDS will be deducted in the new year even if your income remains non-taxable.
TDS Threshold for Senior Citizens on FD Interest
| Category | TDS Threshold (per bank per year) | TDS Rate |
|---|---|---|
| General taxpayer (below 60) | ₹40,000 | 10% |
| Senior citizen (60+) | ₹50,000 | 10% |
| Without PAN (any age) | ₹0 (no threshold) | 20% |
Consequences of Not Submitting Form 15H
- Bank will deduct TDS at 10% once interest exceeds ₹50,000 in a financial year
- TDS deducted will appear in your Form 26AS and AIS — you can claim a refund while filing ITR
- If PAN is not updated with bank, TDS rate rises to 20%
- You must file ITR to claim the TDS refund — ITR filing becomes mandatory if TDS is deducted
- No penalty for not submitting, but the cash-flow impact of TDS deduction is inconvenient
Important: Form 15H Works Only Under Old Tax Regime
From FY 2023-24, the new tax regime (Section 115BAC) became the default. If you have opted for the new tax regime, you cannot submit Form 15H — the provision is not available under the new regime. Senior citizens who want to avoid TDS by submitting Form 15H must opt for the old tax regime when filing their ITR.
Frequently Asked Questions — Form 15H
Related Pages
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