Submission of form-15g & 15h

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2018 Sir,
I would like to be clear Who should submit Form -15G and Form -15H & why it is submitted .

Sudhir Saha

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 February 2018 1. 15 G, for a person less than 60 years of age, for no deduction of income tax.

2. 15 H, for a person more than 60 years of age, for no deduction of income tax.

3, Other conditions-
+ Person's status for income tax purpose should be 'resident in India'
+ Income tax on his estimated total income should be Nil.

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2018 Sir,
I am a senior citizen having gross total income of Rs. 3,95,000 /- and after rebate u/s 80 C my taxable income stands at (3,95000 - 1,50,000 = ) Rs. 2,45000 /- . Can I submit Form 15 H ? Is it punishable if Form-15 H is submitted ?
Sudhir Saha

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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26 July 2025 Hey! Here's a quick breakdown on Form 15G and 15H:

* **Form 15G** is for individuals **below 60 years** of age who want to avoid TDS (Tax Deducted at Source) on interest income when their total income is below the taxable limit.

* **Form 15H** is for **senior citizens (60 years or above)** to avoid TDS if their income is below the taxable limit.

**Conditions to submit:**

* You must be a resident Indian.

* Your total estimated income should be **below the taxable limit** (meaning your tax liability is zero).

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Now, about your question on submitting Form 15H with a taxable income of ₹2,45,000:

* The basic exemption limit for senior citizens is ₹3,00,000, so if your taxable income after deductions is below ₹3 lakh, you **can** submit Form 15H.

* It is **not punishable** to submit Form 15H if your income is below the taxable limit and the form is filled truthfully.

* But if you submit Form 15H **wrongly** (i.e., when you actually owe tax), the income tax department may impose penalties.

So, in your case, since your taxable income (₹2.45 lakh) is below the exemption limit, submitting Form 15H is allowed.

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