9/9/2023 0 Comments Form 15g in word format![]() A senior citizen of age 68 years in above example can submit form 15H as his tax liability is Nil.Deepak cannot submit Form 15G even though tax on total income is Nil, because his interest income is more than the basic exemption limit.Form 15G and 15H are applicable only for ‘residents’, hence a non-resident cannot take the benefit of these forms.Important points for understanding above example. Interest income is less than basic exemption limit Please note that benefits of Form 15G and 15H cannot be claimed by Non residents.Įxample to understand who can submit Form 15G and form 15H Age The total interest income subject for the year is less than the basic exemption limit of that year, which is Rs.2.5 lakh for financial year 2020-21 (AY 2021-22) ![]() Tax calculated on your Total Income is Nil Tax calculated on your total income is Nil Resident Individual with an age 60 years or more i.e Senior citizen. Resident Individual or HUF or trust or any other assessee but not a company or a firm with age less than 60 years Some banks allow you to submit these forms online through the bank’s website. Form 15G and Form 15H are self declaration forms that an individual submits to the bank requesting not to deduct TDS on interest income as their income is below the basic exemption limit.įor this, providing PAN is compulsory.
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