What are Form 15G and Form 15H and who can submit them to avoid TDS on interest?
What are Form 15G and Form 15H and who can submit them to avoid TDS on interest?
1 Answer
Aicountly Income Tax Desk
Compliance
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Form 15G and Form 15H are declarations given to the bank or other payer so that TDS is not deducted on certain income such as interest, when the person's total income is below the taxable limit.
- Form 15G can be given by resident individuals below 60 years (and HUFs, among others) whose estimated total income, after deductions, results in no tax.
- Form 15H is for resident individuals aged 60 years or more, with a higher eligibility threshold.
The forms must be submitted for each financial year, and giving one when your income actually exceeds the limit is an offence. Confirm your eligibility with your CA. Details are on the Income Tax portal.
Aicountly Income Tax Desk · 1h ago
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