Forms 15G or Form 15H should be submitted timely to avoid the tax deducted at source (TDS) on your deposits with bank or post office if your income is below the exemption limit. These forms has to be submitted at the start of every financial year till the maturity of your deposits to ensure no TDS is being deducted by the bank or post office. You might have gone through my earlier article on How to use Form 15G & Form 15H to save TDS, but I feel knowing the usage is not enough until you know how to fill up these forms properly to avoid any rejections.

In this article I am going the explain you step by step how to fill up Form 15G and Form 15H.

How to fill up Form 15G

Download here Form 15G as applicable for A.Y. 2013-14

For your information Form 15G should be submitted by non-senior citizen (less than age 60) individual or a person not being a company or firm claiming certain receipts without deduction of tax.

I. The fields of Part I such as 1, 2, 4, 5, 8, 9, 11, 12, 13, 15 and 16 are for personal details like Name, PAN and Contact Information. Assessment year (AY) has to be put in field 3. If the interest applies to say financial 2012-13 then relevant AY is 2013-14.

II. Field 6 is for Status i.e. your income tax status which would be Individual. In fields 7 and 10 you need to enter details Income Tax assessment office details of the last time you were assessed which you can find out from your PAN number.

You might want to read How to check your AO Code, Income Tax Ward/Circle PAN name with PAN number

III. Field 14 you can enter the year your income was last assessed. Field 17 and 20 required to entered with present Ward/Circle and AO code. Status to be entered as RESIDENT in the field 18.

IV. You can leave field 19 if not relevant. Interest amount from your deposit for the relevant previous year needs to entered in filed 22. Filed 23 estimated total income (mentioned in column 22)of the previous year.

V. Field 24 should be filled with the details of your deposits. In Schedule-III details of the sums given by the declarant on interest should be entered. Here you need to fill FD number, deposit amount, start date of the deposit, tenure of the deposit and interest rate etc.

VI. At last place your signature within the given space as Signature of Declarant and leave Part II since it is for the bank/company to fill the necessary details.

How to fill up Form 15H

Download here Form 15H as applicable for A.Y. 2013-14

There is not much of difference while filling up form 15H except it has to be submitted by individual who is of the age of 60 years or more claiming certain receipts without deduction of tax.

I. The fields of Part I such as  1, 2, 3, 5, 6, 8, 9, 11, 12, 13, 15 and 16 are for personal details like Name, PAN and Contact Information. Assessment year (AY) is to be put in field 4. If the interest applies to say financial year 2012-13 then relevant AY is 2013-14.

II. In fields 7 and 10 you need to enter details Income Tax assessment office details of the last time you were assessed which you can find out from your PAN number.

You might want to read How to check your AO Code, Income Tax Ward/Circle PAN name with PAN number

III. Field 14 you can enter the year your income was last assessed. Field 17 and 20 required to be filled with present Ward/Circle and AO code.

IV. You can leave field 18 if not relevant. Interest amount from your deposit for the relevant previous year needs to entered in filed 21. Filed 22 estimated total income (mentioned in column 21)of the previous year.

V. Field 23 should be filled with the details of your deposits. In Schedule-III details of the sums given by the declarant on interest should be entered. Here you need to fill FD number, deposit amount, start date of the deposit, tenure of the deposit and interest rate etc.

VI. At last place your signature within the given space as Signature of Declarant and leave Part II since it is for the bank/company to fill the necessary details.

Hope this article will help you understand the complexity of the revised Form15 & Form 15H from the earlier once and submit the filled up form without any rejection.

If you still have any questions do share the same in the comment box.

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