Form 15G and Form 15H are self-declaration forms which can be submitted to banks and other institutions to avoid Tax deduction at source (TDS) by banks on fixed and recurring deposit. The good news is now most big banks like SBI, ICICI, HDFC, Axis bank etc allow depositors to submit Form 15G or Form 15H online through their net-banking interface.
In this post we would tell you who is eligible to fill Form 15G/15H and how it can be done online for SBI, ICICI Bank and HDFC Bank (with screenshots).
Form 15H is meant for senior citizens while Form 15G is meant for all other individuals and HUFs.
Also Read: Highest Interest Rate on Fixed Deposits across 46 banks
The figure below gives some examples to check the eligibility to fill Form 15G and Form 15H.
We tell you how you can fill Form 15G or Form 15H online for SBI, ICICI Bank and HDFC Bank (with screenshots).
Also Read: How to Fill Form 15G and 15H (With sample filled form)?
Follow the following steps:
Step 1: Login to ICICI Net Banking
Step 2: Go to “Payments & Transfer” in Menu >> Tax Centre
Step 3: On the page select “Form 15G/H” Update
Step 4: Fill the Form as applicable – Form 15G or Form 15H
You are done – keep the acknowledgment for future reference!
Follow the following steps:
Step 1: Login to HDFC Bank Net Banking
Step 2: Go to Accounts >> “Request” >> Form 15G/H in Menu
Step 3: On the page select “Submit 15G/H Online”
Step 4: Fill the Form as applicable – Form 15G or Form 15H
Also Read: 13 Investments to Generate Regular Income
Follow the following steps:
Step 1: Login to SBI Net Banking
Step 2: Go to “eServices” in Menu
Step 3: On the page select “Submit 15G/H” (To check status of previous submitted form select “Form 15G/15H Enquiry”
Step 4: Fill the Form as applicable – Form 15G or Form 15H
Special Instructions:
The functionality for online generation of Form 15G/H is available between 08:00 AM to 8:00 PM IST only.
Also Read: 25 Tax Free Incomes & Investments in India
If you are not eligible to file Form 15G or Form 15H, you should not do so just to evade TDS. Providing false declaration can lead to fine and imprisonment u/s 277
Also Read:21 Hidden Charges in Saving Bank Account
The Form 15G and Form 15H was revised from October 1, 2015 and has been simplified. Also the reporting to income tax department has become more robust. You must fill these forms and submit to relevant banks/institutions only if you are eligible. Do not make a false declaration as that might create problems.
Everyone hates paying taxes and always are on lookout for Options to Save Tax. However…
Are you worried and confused about Lien amount in SBI? Well you are not alone.…
Get details of latest Sovereign Gold Bond Price, Issue details, taxation and how to invest.…
Download the Excel based Income Tax Calculator India for FY 2020-21 (AY 2021-22). This compares…
Piramal Capital & Housing Finance, has come out with Piramal Capital & Housing Finance Ltd…
IIFL Home Loan, the Housing Finance company from IIFL Group has come out with IIFL…