106 thoughts on “How to Fill Form 15G and 15H?

  1. Arindam Chatterjee says:

    Amit, many thanks for the clear explanation. My mother (60+) has auto sweep facility in her SBI savings account and I am trying to submit her 15H form. She has no other income source.

    Auto sweep creates deposit accounts with F.D. rates, whenever the balance in savings goes above a threshold. I am confused about how to calculate the income in this P.Y.

    Suppose, a sweep of Rs. 1 lakh (new deposit account opens) was made on October 1, 2016 and it will mature on October 1, 2017. With 7.25% interest rate, the deposit account shows a maturity amount of Rs. 107250. Then, how should I calculate the income amount in this financial year (April 1, 2017 – 31 March, 2018) or P.Y. for this deposit account. Should the income be Rs. 7250, or should it be a certain fraction?

    Also, should the income tax section be 194A?

    • The interest income has to be calculated for the present financial year only. As in your case for deposit made from October, the interest for financial year would be for Oct to Mar only (6 months). So your income for FY would be slightly less than half of 7250. You can do a rough calculation yourself and if not then you’ll need to ask your bank for the breakup.

  2. I have interest from bank on Fixed deposits from 2 banks. I am yet to file 15G for both the banks. While filing 15G for 1 bank, do i need to write 1 in Total no of forms filed (Field 16) for other bank? Also do i need to write amount of interest of the form of that second bank which i am going to file in field “Aggregate of income for which Form 15 was filed?

    • You need to sequence the forms. For first bank you need to write 1 and for second 2 and so on. And yes for “Aggregate amount of income for which Form No. 15G filed” keeps on increasing in similar manner.

      • It should be Zero for first bank 15G considering statement on the form is “Details of 15G Other than this form” and for next back you can put 1. i.e. In short it conclude that you submitted 2 forms. This is what I think considering sentence what specified on the Form 15G/15H

  3. Hi Amit

    I am out of job since 01 year.
    Am i eligible for 15 G

  4. hi amit
    i joined with a company 02.01.2014 and resigned 29.01.2017… my salary was 15000/- so what willbe at col-4,16,17, and at col 19 what is identification num/ and amount of income?

  5. Hi Amit,
    Thank you very much for your clarity and precision. In 15 H, Sec 18 asks for Id no of previous inv. So if I want to make many FD’s, I can do it only 1 at a time since I need the no of the previous FD to enter in 18, please confirm I can attach a sheet for 18 as I have many FD’s. Thank you very much

    • I agree the space given for such a question is not sufficient and unfortunately you find such issues in almost all government issued forms. You can list you high value FDs in the space given.
      The other option would be to consolidate your FDs at bank level.

      I am not sure if there is any provision of extra sheet attachment with the form. But you can confirm with the bank in question.

      • THanks for your quicksilver response. Your solution will work for banks, but most of us also invest in company FDs, Since I need the no of the previous FD to enter in 18 for company FDs I can do it only 1 at a time, I would need to wait for my prev FD no to be generated so THat I can fill it up in the next FD form 15H. Please confirm, and thanks a lot

        • All I can think is this column is meant to capture annual income from all other instruments and has no significant meaning. This is more of a legacy field as the government forms have habit of asking things which have no real significance. As of today all the interest paid is reflected on FORM 26AS. So this column is ideally not required.

          I can suggest just list down your high value FDs, no one would after you if you have calculated and paid your taxes honestly!

  6. 1) My fathar is 75 up and getting pension around 2,80000/- Per year as well as other income of interest around 100000 per year, Should he submit form 15H?
    2) His Bank’s officer says to fill all FD’s details of other banks in 15 H form…is that necessary?
    3) should he submit income tax return ? Plz give the answer

    • Here are your answers:
      1. Yes he should submit Form 15H, if he wants to avoid TDs on interest income
      2. Yes it is necessary to list other FDs in column 18
      3. As his income exceeds Rs 3 lakh, which is the basic tax exemption limit for senior citizens, he has to file his income tax return

      • BRIJ THAKKAR says:

        As per my opinion :
        1) he can not submit form 15H as his income tax limit exceed threshold limit
        2) not required to submit if income is below limit than must mention all deposit details
        3) yes

        • He can submit Form 15H if his tax calculated after taking all the deductions and exemptions is NIL for the financial year. So on income of Rs 3.8 lakhs if he makes investment of Rs 80,000 in tax saving instruments his income tax would be NIL and hence eligible for form 15H. However for 15G (for people below 60 years of age) the tax deduction is not considered to calculate eligibility.

        • Amit, what if his father invest Rs 80000/- in PPF in same financial year. His income will come into non taxable bracket. Do his father need to submit 15H knowing his PPF account is in same bank where his FD’s are there and pension get deposited.

          • Have changed my comment. The rules are different for Form 15G & H. So if he makes any 80C investment for 80K he can fill Form 15H. It does not matter if the PPF account is in the same bank. The Form 15G/H are self-declarations and so does not require any proof!

  7. Hi Amit,
    I would like to withdraw my pf amt and want to know what to fill in col 16. My only expected amt is my pf. But, what will be the amt to declare. My epf bal is updated only till 31. 03. 2015. So can i just mention that amt or should i estimate the amt. will we be able to know what the exact pf bal amt.

  8. It is required form 15-g for withdraw PF Amount .

    Kindly find my details as per below :-

    1)Total PF Amount Around Rs.1,00,000
    2)Job Duration : 2 Years (I quit my job 2014-Apr and I travelled to abroad 2014-May.)
    3) Current Resident Status : NRI
    4)Others Income : I have some shares and I am receiving dividends
    5)Paid Tax Rs.0 in FY-2014-2015 (As I quit job in April-2014)

  9. Virendra Singh Museni says:

    Virendra Singh Musyuni

    Hi Amit,

    I want to withdrawal our pf amount and my total service 4 year 11 month. In this case require to fillup form 15g? total brekup of pf amount (in 4year 11 month) is as follow:

    Employee Share :Rs 157440

    Employer Share:Rs 120390

    Pension Contribution:Rs 37050

    And also what is the amount that I have to fill in column 16 ,17 & 19 of form 15G in my case.

    Regards
    Virendra

    • As your service period is less than 5 years, your EPF withdrawal would be taxable. So if you have taxable income for this financial lyear, you can skip filling Form 15G

  10. It is required form 15-g for withdraw PF Amount .

    Kindly find my details as per below :-

    1)Total PF Amount Around Rs.98000
    2)Job Duration : 7+ Years
    3)No Others Income
    4)Paid Tax Rs.41800 in FY-2016-2017

    • If you had continuous service for 7 years which means you have transferred your EPF account with job change, your EPF is tax free. So you do not require Form 15G

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