It is frustrating to have tax deducted at source on your interest income, only to claim it back as a refund months later — especially if your income was never taxable in the first place. Forms 15G and 15H exist to prevent exactly that. They are self-declarations you give to a payer, such as a bank, asking that no TDS be deducted because your income falls below the taxable limit. Here's how they work and who can use them.
Reviewed by CA Harika Chebolu, FCA · Last updated 2026-06-15
Quick answer
If your total income is below the taxable limit, Forms 15G and 15H let you ask a payer not to deduct TDS on interest. Here's who can use them and how they work.
When a bank or other payer credits interest above a threshold, it normally deducts TDS. But if your total income for the year is below the level at which any tax is payable, that deduction is unnecessary and you would simply reclaim it later. Forms 15G and 15H let you declare up front that your income is not taxable, so the payer can refrain from deducting. They are about timing and cash flow — keeping money in your hands now rather than tied up until you file.
The two forms serve the same purpose but for different people. Form 15H is for senior citizens, while Form 15G is for other individuals (and certain non-company entities) who are below senior-citizen age. A key practical distinction is that senior citizens using 15H have a different basic exemption position than younger taxpayers, so a senior may be eligible to give the declaration in situations where a younger person would not. Use the form that matches your age category.
The forms are not for everyone. The core condition is that your estimated total income for the year is below the level at which tax becomes payable, so that no tax is ultimately due. They are declarations of fact, made under your responsibility, and they are generally not available to entities like companies and firms. If your income is actually taxable, you should not file these forms simply to defer deduction — that defeats their purpose and creates problems.
You give the form to the payer — typically your bank, and you may need to give one to each payer separately and afresh each financial year. The payer reports these declarations to the tax department, so the information is visible to the authorities. Once accepted, the payer can credit your interest without deducting TDS. Keep a copy of every declaration you make and note where you have submitted them, so you do not lose track across multiple banks or accounts.
Because these are formal declarations, giving an incorrect one — declaring that your income is below the taxable limit when it is not — can have consequences. If you sign a 15G or 15H but your income turns out to be taxable, you remain liable for the tax, and a false declaration is not treated lightly. The safe approach is to estimate your full-year income honestly first, and only file these forms if you are genuinely confident you will have no tax to pay.
Form 15H is for senior citizens, while Form 15G is for other eligible individuals below senior-citizen age. Both serve the same purpose — telling a payer not to deduct TDS because your income is below the taxable limit — but senior citizens have a different basic exemption position, so eligibility can differ.
An individual (or certain non-company entity) whose estimated total income for the year is below the level at which tax is payable can submit them. They are not for companies and firms, and you should not file them if your income is actually taxable, since they only suit those who will owe no tax.
You remain liable for any tax that turns out to be due, and a false declaration is not treated lightly. Because these are formal declarations made under your responsibility, estimate your full-year income honestly first and file only if you are confident you will have no tax to pay.
Not sure whether you can give your bank a 15G or 15H this year? Write to the firm with your expected income and we'll tell you whether you qualify and help you file correctly.