Download 15G Form And Save TDS On Interest Income

Form 15g :- This form is for those people who have invested in FD in a bank and want to verify by them that no TDS is deducted by the Income Tax Department on their FD interest.

But under the Income Tax rules, if the annual interest on your FD is more than ₹ 10000, then TDS will be deducted on it. In the interim budget 2019, the limit of TDS has been increased to ₹ 40000 from Financial Year 2019-20.

15G Form Download

15G Form Download :- To avoid TDS on your Fixed Deposit you can get a 15G form from your bank or you can also download this form through a given direct link through our website.

Download 15G Form

You can also download the 15G form on the official website of the Income Tax Department.

The format of 15G form is kept by each bank according to its own, the format of the forum given by us is according to the Income Tax Department. which is the basic format of 15g form.

15G Form PDF

Pdf Form NameForm 15G Application Form
Pdf Size67 kb
CategoryIncome Tax Department
Official Website
Download PdfClick the Download Button

You can download the Form 15G Application Form from here.

Features of 15G Form

Salient Features of 15G Form : The following are the features of 15G Form.

  • The rules for self-declaration are given in section 197A of the Income Tax Act 1961.
  • This forum declares that if your particular income is less than the exemption limit, then TDS should not be deducted on it.
  • The 15G form was changed in 2015 to reduce the cost of tax deductor and taxpayer.
  • The basic format of Form-15g is issued by CBDT.
  • Form-15g is filled for persons below 60 years of age and if persons above 60 years of age come under the category of senior citizens, then Form 15h should be ensured for them to be filled.

Eligibility For Form-15G

Eligibility to fill Form-15G :- Provided the Eligibility for filling Form 15G are mandatory.

  • You must be an individual (no companies are firms)
  • You must be a citizen of India within the current financial year.
  • Your age should not be more than 60 years.
  • The text on your income in the financial year should be zero.
  • The total interest earned on your FD in the financial year should be less than the exemption limit.

How To Fill Form 15G

Required Guidelines to fill 15G Form : – There are mainly 2 parts in the 15G form, the first part is for those people who do not want to deduct TDS on their income.

  • And the second part is for those people who come after deducting TDS and depositing it to the government.
  • The important information in the first part of Form 15G is to be filled in the following manner.
  • Fill your name as per your ID proof PAN card.
  • PAN No.
  • Declaration in Form 15G should be of an individual and not of any companies firm.
  • It is mandatory that the citizens of India NRI cannot fill this form.
  • Enter your address.
  • Give correct information about your email id and mobile number etc.
  • Tick ​​Yes if the Income Tax Act has come into force on you in the last financial year.
  • And give information about the year in which statement of your return was made.
  • Information about how much of your total income you are giving a declaration of.
  • Your total estimated income in the current financial year.
  • The last part of Part 1 describes the investments for which you are giving the declaration. You need to provide an investment account number (term deposit / life insurance policy number / employee code etc.)

Difference between Form 15G and 15H

Following are the differences between Form 15G and 15H :

Form 15GForm 15H
Applicable to individuals less than 60 years of ageApplicable to individuals aged 60 years or more
Can be submitted by HUF as well as individualsCan be submitted only by individuals
Only applicable to individuals/HUF with annual income lower than basic exemption limitAny senior citizen can submit the form irrespective of annual income level

You cannot file 15G as the total income is taxable.

Income ofSavitaDeveshSmita
Age50 years23 years66 years
Salary IncomeRs.  1,80,000
Pension receivedRs.  1,10,000
Interest from Fixed DepositRs.  86,000Rs.  2,61,000Rs.  1,80,000
Total Income for the year (before section 80 Deductions)2,66,0002,61,0002,90,000
Deductions allowed under section 80Rs.  45,000Rs.  30,000Rs.  10,000
Total Taxable incomeRs.  2,21,000Rs.  2,31,000Rs.  2,80,000
Basic Exemption LimitRs.  2,50,000Rs.  2,50,000Rs.  3,00,000
Are they eligible to submit Form 15G?YesNoNo
ExplanationForm 15G can be submitted as the total tax liability for the year is nil and aggregate interest income for the year is less than basic exemption limit. And she also satisfies the age criteria of below 60Form 15G cannot be submitted since aggregate interest income for the year is more than basic exemption limitForm 15G cannot be submitted as she is more than 60 years old. However, Form 15H can be submitted in this case as tax calculated on total income is nil.

IT Act Sections and Rates for Tax Deducted at Source

Below are some common TDS Sections for ready reference

Investment TypeSections of Income Tax Act Threshold limitTDS (with Valid PAN)TDS without PAN
Interest on Bank Deposits194A10,00010%20.00%
EPF Proceeds- Premature Withdrawal192A30,00010%34.61%
Interest on securities19310%20.00%
Dividend income1942,50010%20.00%
Interest other than interest on securities194A5,00010%20.00%

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