• 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.
• Form 15G is required to be filed by a Resident Individual or HUF or trust or any other assessee (but not a company or a firm) with age less than 60 years. • Form 15H is required to be filed by Resident individual aged 60 years or more i.e. Senior citizen.
• Please note that Form 15G and 15H are applicable only for ‘residents’, hence a non-resident cannot take the benefit of these forms.
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