What is form 15G and 15H
According to section 194A of Income Tax Act, 1961 TDS is to be deducted if the interest paid by a bank on account of FD exceeds Rs 10,000.
If the income of assessee does not fall into tax limit, he can submit a Declaration Form 15G/15H to bank stating that he doesn’t have any taxable income.
15G- Issued as per Rule 29C, this is the declaration under Sub-sections (1) and (1A) of Section 197A of Income Tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax
15H- Issued as per Rule 29C(1A), this is the declaration under Sub-section (1C) of Section 197A of Income Tax Act, 1961, to be made by an individual who is of the age of sixty-five years or more claiming certain receipts without deduction of tax
Download Form-15G
Download Form-15H