Form 15G & Form 15H FY 2025-26 | Save TDS on Interest Income

Form 15G and Form 15H are self-declaration forms submitted to a bank or other deductor to request non-deduction of TDS on certain interest and other incomes when your tax liability is nil. Form 15G is for resident individuals (and HUFs) below 60 years and requires that your estimated total income for the financial year results in zero tax, while Form 15H is for resident senior citizens (60 years or above) who can declare nil tax liability without the same strict income ceiling. Both forms are valid for one financial year (e.g., valid up to 31 March 2026 for FY 2025-26) and must be submitted separately to each bank, post office, or deductor where you earn income. From 1 April 2026, a new unified Form 121 under the Income Tax Act 2025 will take effect replacing 15G/15H for eligible taxpayers, so check applicability for the next year.

You can file Form 15G in FY 2025-26 if you are a resident individual, HUF or other eligible assessee below 60 years and your estimated total tax liability for the financial year is nil. Your total estimated income must generally be within the basic exemption limit so that no tax is payable; submitting the form when tax is actually payable makes the declaration false and punishable. Form 15G must be submitted separately to each bank, branch or deductor and is valid only for that financial year (valid up to 31 March 2026 for FY 2025-26). Ensure your PAN is correct on the form, missing or wrong PAN invalidates the declaration and may attract higher TDS rates.

Form 15H can be filed by resident senior citizens (age 60 years or above) in FY 2025-26 who estimate that their total tax liability for the year will be nil. Unlike Form 15G, there is no strict income ceiling, the key condition is that tax liability must be zero, and the form must include your PAN and estimated income on which TDS may be deducted (for example FD interest). Form 15H must also be submitted separately to each deductor and is valid for one financial year (up to 31 March 2026 for FY 2025-26); incorrect or missing PAN will render it invalid. If your total income would attract tax even by Re.1, you are not eligible and should not file Form 15H.

The key differences are age, applicability and the transition to Form 121: Form 15G applies to resident individuals and HUFs below 60 years with income within the basic exemption limit, Form 15H applies to resident senior citizens (60+) with nil tax liability and no strict income ceiling, while Form 121 (effective 1 April 2026) is a unified declaration for eligible resident taxpayers replacing 15G/15H. Forms 15G and 15H are governed by sections 197A(1) and 197A(1A) of the Income-tax Act, 1961 and are valid up to 31 March 2026 for FY 2025-26; Form 121 is under sections 393(6) and 393(7) of the Income Tax Act, 2025 and becomes effective from FY 2026-27. All declarations must be submitted separately to each deductor and are valid only for the financial year for which they are filed. HUFs can file Form 15G but cannot file Form 15H; Form 121 has no separate age criteria but replaces the older forms.

When filling Form 15G, you must enter your full name as per PAN, a valid PAN, select the correct status (Individual, HUF, etc.), and specify the previous year (financial year) for which the declaration is made. Provide your complete residential address, email, telephone number and tick "Resident" (non-residents cannot submit), state whether you were assessed to tax in the last six assessment years and give the latest assessment year if applicable; importantly include estimated income for which the declaration is made and estimated total income for the previous year (all sources). Also declare details of any earlier Form 15G(s) filed during the year (number and aggregate income) and provide specific details of the income for which declaration is filed (account or investment number, nature of income, section under which tax is deductible and amount). Errors like wrong PAN, underestimating total income or not declaring other 15G submissions will invalidate the form and can lead to TDS being deducted.

To fill Form 15H correctly, enter your full name exactly as per PAN, provide your valid PAN (mandatory), indicate the previous year and tick "Resident" as non-residents cannot submit the form. Provide your complete address, email and telephone number, state whether you were assessed to tax previously and mention the latest assessment year if yes, then give the estimated income on which declaration is made and the estimated total income from all sources for the financial year. Also list any Form 15H submitted earlier during the year (aggregate income and number of declarations) and include details of the income for which the declaration is filed (account number, nature of income, applicable section and amount); missing or incorrect PAN will make the declaration invalid and lead to TDS.

You can submit Form 15G/15H both online (via your bank's netbanking TDS declarations section or the deductor's online portal) and offline (physically at the bank branch, post office or deductor office). For online submission, login to netbanking, go to TDS declaration/Form 15G/15H, fill PAN, estimated income and other details and submit digitally; this avoids branch visits and is immediate. For offline submission, sign and hand over the completed physical form to each branch or deductor where you earn income, remember you must submit a separate form to every bank branch or deductor and resubmit each April as forms expire on 31 March. Keep proof of submission (stamped receipt or acknowledgement) and ensure PAN and estimated income fields are accurate to avoid invalidation and TDS.

If you forgot to submit Form 15G/15H and TDS was deducted, file your Income Tax Return (ITR) for the financial year to claim a refund of the excess TDS and also submit the declaration to the deductor immediately to prevent future deductions. The ITR will allow you to claim the TDS credit and any refund due after reconciliation; keep Form 26AS and TDS certificates handy to support the claim. If you still qualify for non-deduction going forward, submit fresh Form 15G/15H to each deductor and ensure you resubmit annually in April, since submissions do not cover future financial years automatically.

Common mistakes include submitting a declaration without checking eligibility (if total income is taxable even by Re.1 you are not eligible), failing to submit to every bank/branch where income is earned, not resubmitting every April, missing or wrong PAN, underestimating total income, senior citizens using Form 15G instead of Form 15H, and not declaring other 15G/15H submissions made during the year. Submitting a false declaration is an offence under Section 277 (and related provisions) and can attract prosecution and penalties including imprisonment; therefore ensure accuracy and that your estimated total tax liability is genuinely nil before filing. To avoid problems, keep accurate records, declare all incomes across sources in field 17, and obtain acknowledgement from each deductor when you submit the form.