TDS on FD Interest: Avoid Unwanted Deduction: Submit Form 15G/15H; Know Process:

How to Avoid Unwanted TDS Deduction by Submitting Form 15G/ 15H To help you save on unnecessary tax deductions, please submit Form 15G or 15H (based on your age) at the earliest.

• Form 15G is for people under 60 years of age
• Form 15H is for people over 60 years of age

For providing this Form, a Valid PAN is compulsory.

Conditions for submitting for the Form 15G/ 15H

What are the Conditions for submitting the Form 15G (Person is not a senior citizen) 1. Tax calculated on your total income is Nil and; 2. The total interest income subject to the year is less than the basic exemption limit of that year, which is Rs. 2.5 lakhs (old regime) or Rs. 4 lakhs (new regime) for the financial year 2025-26 (AY 2026-27) What are the Conditions for submitting the Form 15H (Person is a senior citizen): Tax calculated on your total income is Nil; Let's understand this with the help of examples:

Age	50 years	21 years	65 years	68 years	50 years	68 years
Salary	180000	0	0	0	180000	0
Pension	0	0	100000	0	0	0
FD interest income	85,000	260000	180000	330000	85,000	330000
Total income before Section 80 deductions	265,000	260,000	280,000	330,000	265,000	330,000
Deductions under Section 80	45,000	30,000	10,000	55,000	Opting for New Tax Regime	Opting for New Tax Regime
Taxable income	220,000	230,000	270,000	275,000	265,000	330,000
Basic Exemption limit	250000	250000	300000	300000	400000	400000
Age	less than 60 years	less than 60 years	more than 60 years	more than 60 years	less than 60 years	more than 60 years
Tax on total income is Nil	Yes	Yes	Yes	Yes	Yes	Yes
Interest income is less than the basic exemption limit	Yes	No	N.A.	N.A.	Yes	N.A.
Eligible to submit Form 15G/15H	Yes Form 15G	Cannot submit	Yes Form 15H	Yes Form 15H	Yes Form 15G	Yes Form 15H

A company or a firm, or Non-residents, cannot claim benefits of Form 15G and 15H.

Why submitting This form Matters?

If you're eligible, submitting Form 15G/H helps you avoid TDS (Tax Deducted at Source) on the interest earned from your deposits.

How to Submit Form 15G/H:

These forms may be furnished in any of the following ways, namely: (a) in paper form; or (b) electronically Online Steps: 1. Log in to Bank NetBanking 2. Go to Fixed Deposit section 3. Click on Request Form 15G/H 4. Fill and submit: That’s it! Offline Steps: You need to visit a Bank Branch in case your bank does not provide an Online Facility.

Forgot to submit Form 15G/15H?

In case you forgot to submit Form 15G/15H, your TDS will be deducted by the bank. You can claim the same at the time of filing the Income Tax Return.

Download Format of Form 15G and Form 15H

Download Form 15H Download Form 15G