Who can submit Form 15G / 15H to avoid TDS on Bank FD ?


 Banks are required to deduct Tax (TDS) @ 10 % if the interest earned on FD exceeds Rs 10,000 in a financial year.

However, if you meet certain conditions, you can submit Form 15G / Form 15H to the Bank & they will not deduct any TDS.

Read my post –  How to avoid TDS on Bank FD.

Form 15G can be submitted by Resident, non-senior citizen investor if following conditions are fulfilled:

1) The final tax on his estimated total income should be NIL ; and
2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab

Form 15H can be submitted by Resident senior citizen investor if following condition are fulfilled:

1) The final tax on his estimated total income should be NIL ; and

Senior Citizen is person who is atleast 60 years of age at any time during the financial year.

Fresh forms are required to be filed each year. As incomes of investors may differ from year to year, the eligibility for furnishing the forms has to be ascertained every year.

NRIs are not eligible to submit Form 15G or 15H.

Download Form 15G / Form 15H

These forms are available in all Bank branches. You can also download it from link below –

Important Points to Note
1) Form No. 15G or 15H should be submitted at the beginning of the year so as to avoid a situation where bank has already deducted the tax before you submit the form. However in case the bank deducts the tax despite of the fact that you have submitted the form or before you actually submit the same, the bank will not refund the tax already deducted, as the bank would have already deposited the tax with the government. In such a situation the only option available with you is to file your income tax return and claim the amount of TDS a refund.
2) Form 15G and Form 15H have the validity of only one financial year. These forms are valid only for the financial year in which you have furnished these forms. If you want to apply for nil TDS in the new financial year, then you will have to resubmit these forms.
3) Form 15H or 15G are meant to prevent TDS and not to avoid tax or file your tax return. You may be required to file your tax return if your total income before the deductions is above the basic tax exemption limit.
4) Please ensure to submit your PAN details to the bank while submitting the Form No. 15G or 15H. In case you fail to include your PAN number to the bank, the bank will deduct TDS @ 20% against the applicable rate of 10% even if you have submitted Form No. 15G and 15H. Please take an acknowledgement from the bank for Form No. 15 G or 15H while submitting it.

377 Replies to “Who can submit Form 15G / 15H to avoid TDS on Bank FD ?”

  1. Dear sir
    If my total income is 500000 and taxable after deduction is 100000 .I have FD in bank 300000 can I submit 15G

    1. Hi Ranvir, You need to satisfy following 2 condition :

      1) Tota Tax calculated – NIL
      2) Interest icnome less than Rs 2 lakh

  2. Dear Sir,

    My father and mother are past 80 yrs and both have PAN No. Now i wish to save taxes from FD so how much minimum i can put in their account so that i save the taxes. Is it okay to be having a joint account ? or only a nominee?

    1. Hi Venkat, you can have a joint account with them with their name as FIRST holder. You can then transfer money to their account and prepare a simple letter of Gift (preferable on stamp paper of Rs 10 or Rs 20).

      Then any Interest earned on that FD will be income of your parents.

      For FY 2014-2015 (AY 2015-2016) if your parents are age of 80, then upto Rs 5 lakh of income there will be NO tax.
      So you can invest around rs 1 crore ( Rs 50 lak in name of each of yourparent) and they can earn a tax free income.

  3. Hi Vivek,

    I have a query regarding the TDS that is been deducted.
    Actually i am sending money to my mother and she doesn’t have any other source of income.
    I see tds has been deducted from my mother’s account for the FD’s she has created i want to apply for tax refund can you let me know which form i should fill and what should i show as source of income for her.

      1. sir
        i ve deposited Rs. 300000 in my mothers account in year 2015-16 and Fd was done out of such amount and interest earned on FD was 17755.97 and TDS deducted was Rs. 2817. So what can i do to get refund of this tds amount. my mother has no other income.

  4. Hi Vivek,

    Can i show the paid LIC premium Recipts of my mother , brother and wife who are depended upon me under 80C. Is there a way that can be reclaimed

  5. Hi Vivek,
    I have a pretty basic confusion about this, and excuse me because I’m still young with taxation, hence I’ll ask just a direct question which might help me out. I have my salary as my source of income which is within the exemption limit (245000 INR p.a) and I have around 130000 INR in Fixed Deposits. Obviously my interest incurred will be above 10000 and hence taxable, but can I still fill Form 15G and avoid TDS as my income is not in any tax bracket?

    1. Hi Parth,

      You can submit form 15G if

      1) The final tax on estimated total income should be NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab

      While you satisfy condition 2, but not condition 1. As your total income will be approx. 256000 and tax will be levied on 6000 which is approx. 600

      However, you can save this tax by investing in 80C investments.

      So you can submit Form 15G to the bank and see if it si approved by authorities.

  6. sir,
    i want to opt an fd for 5 years of around 300000 & i pay taxes. now i want to ask that if i have to calculate and pay tax on interest on fd each year or at the end of 5 year (maturity)

    1. Hi Javed, You will need to include the accrued Interest each year and pay taxes accordingly.

      Assuming the FD is for 9% , then you have to include approx. 27000 each year. and claim any TDS deducted by bank.

      Also,bank will deduct TDS every year & you can check that on TDS statement given by bank.

    1. 1) Any interest earned on FD is taxable. You need to show under Income from other sources.
      But if your total income is less than exemption limit, ( 2.5 lakhs), then you need not worry about Interest taxation as you will be below taxable limit.

      2) if interest earned in 1 year is more than Rs 10000, then TDS will be deducted by Bank @10% . if your total income is less than 2.5 lakh, then you can file return & claim refund.

  7. Dear Vivek Shab,
    First very thanks for all the useful information. I have job out of India from, i was send money in India and from some of them money make FD in SBI. Now bank has been deducted TDS n i was not submitted the Form 15G/15H. How will i get back my TDS , can i shows my Salary in ITR form. Please suggest me. Thanks.

    1. Hi Abhay,

      1) Since when are you outside India – to determine whether your are Resident/ Non resident as per Income tax Act.


      2) If you are Non-resident, then you do not need to show your Salary outside India in the Income tax returns. You can just show your Interest income & claim tax refund.


      3) ideally, you should transfer money to an NRE Account where Interest is tax free & no TDS is applicable. See below the types of bank accounts for NRI

      1. Sir i am also nri working in saudi arabia as u said is it possible to transfer money from india account to nri. My mother hsve a fd of 5 lakh whicb i belive is not yaxable because she is not having any source of income. Can i withdraw it and transfer to my nri account

        1. Hi Vinoth, You can transfer money from Indian account to NRO account. You cannnot transfer it directly to NRE Account.

  8. Thanks Vivek shab,

    1. Since Bank already deducted tds, will they provide tds certificate even i was not submitted PAN card to them.
    2. If they provide, am i able to submit IVR-1
    3. Is possible the amount already deposited in SB will be transfer to NRE a/c.

    1. If your PAN is not updated in your bank account, the bank will deduct TDS @20%. You can ask them to give a certificate for tax deduction.
      Do you have PAN? If not you need to apply one? Once you have your PAN, you can give your PAN to the bank and ask them to update their TDS returns. Most of times, they donot accept this request.
      In that case, you need to file returns & claim TDS. But as TDS is not against your name, you may need to send letter to respective ITO explaining the situation.

      You cannot transfer money from Savings account to NRE. You can transfer money from Savings to NRO. Then you can transfer money from NRO to NRE after having CA certificate that all taxes on this amount is paid.

      How much amount do you have in FD in India account. if it is less than Rs 20 lakh, then interest eanred will be below taxable limit.
      In that case, you should give PAN to you bank. Any TDS deducted, you can file return in ITR1 and claim refund.

      1. Dear Vivek shab,
        I have PAN card, n have more than a/c of same bank in different states, when i will submit pan card hope they will give tds certificate. is this problem from more a/c of same bank in different bank.
        My FD in these a/c more than 20lakh
        Can i fill ITR for FA 13-14 after getting TDS certificate

        1. you can have multiple accounts in same bank. Ideally all should map to same customer id.
          If you can get the TDs certificate, then you can file ITR for FY 13-14.

  9. Hi Sir,

    What is limit of FD investment in bank. If somebody will invest lump some amount every year in FD and keep on submitting 15G to avoid TDS. After which limit/amount even if we submit 15G the TDS will be started deducting.

    1. You cannot submit Form 15G if total interest income exceed the tax exemption limit. which is currently 2.5 lakhs.

      So assuming the interest rate of 9%, if you have FD of around Rs 27 lakh, you can submit Form 15G.

  10. My mother is a penisoner and her annual pension is 1,80,00. She has a 3 FD in single bank ie. one 3 lakhs FD, 9 lakh FD & one 2 lakh FD. Bank has deducted some tax for each of the interest earned for the respective FDs. Apart from the FDs and pension there is no source of income. My question is is she eliible to avoid TDS on interest on FD? if no any other way to avoid TDS?

    1. Hi Yashwanth, What is the age of your mother?
      As the FD is for Rs 14 lakh, which may be generating an income of Rs 1.25 lakh annually.
      So the total income (FD interest + pension) will be around Rs 3 lakh. which is above taxable limit.

      So you can make some investments in 80C and claim benefit. then file the return & claim refund of TDS deducted.

  11. My wife is housewife her annual income is 305000 from only Fd interest,and she patients of kidney failure, approx 1 lac Rs. Expense on her treatment per year. Sir, is she fill 15g form to save TDS and how much tax she need to pay?

      1. Sir thank u for replying every doubts. I have a doubt i am vinoth working in saudi arabia as u nri is tax free. I have fd in nri account in india sbi. Suppose if they throw me out because of oil price reduction. Wat will be my nri account and nri fd if i come and work in india. Is it going to be taxable. Please breif. And i have a fd to my mother for 5 lakhs she is 57 age for her backup i did. And we are submitting 15h form do i hve to submit or i have to stop submitting . Please advice. And i m not sure they r detecting tds or not

        1. When you come back to India, you need to inform your bank. The bank will then convert / premature the FD. If they convert it to normal FD, then the interest will be taxable.

  12. Dear sir, i have queries regarding submission of form 15G with the bank in relation to fixed deposit.
    My daughter is a student and is above 21years of age .she has only income from fix deposits and saving account with bank. She receives some amount of money from her father and mother as a gift through cheque regularly since the completion of age of 18 years For F.Y. 2014-15 the fixed deposit income will be about 20,000 out of which 12,000 with one bank only and about 8,000 with other bank. The income from saving account will be about 7-8,000 for this F.Y. should my daughter submit 15G to avoid TDS on fixed deposit of 12,000?????
    Will she need to file the return for the Financial year 2014-15 or not? as the total income for this financial year will be about 28,000 approx.
    With Thanks and regards

    1. If the FD interest in one bank exceeds Rs 10000, then the bank will deduct TDS.

      As FD interest in 1 bank is Rs 12000, you can submit Form 15G to avoid TDS. Alternatively, you can make FD in 2 different banks & no TDS will be deducted.

      As her total income is below taxable limit, there is no need to file return. However, if TDs is deducted by bank, she can file return & claim refund for TDS deducted.

  13. Thanks Vivek ji.
    Now i want to ask something about gift given to a close relative . As per my knowledge regarding gift
    1. Cash Gift by father/mother to his/her son/daughter is tax free both for donor and donee.
    2.It is treated as Capital receipt/asset and not treated as the income of donee i.e. recepient in that particular F.Y.
    Hope i am right for the above.plz clarify. plz also answer my following queries
    1. How many times one can give cash gift through normal banking channels to close relatives i.e. father to daughter , mother to daughter etc in 1 F.Y?
    Is there any particular occassion to make the gift?
    2. Is there any ceiling on the amount of cash gift under the income tax laws?
    With thanks n regards

    1. Your understanding re cash gift to close relative is correct.
      1. There is no limit on number of times.
      2. There is no limit on amount

      But in case of scrutiny, father/ mother should be able to proof that the donation is made out of their income.

  14. Thanks vivek advance
    My query for 15 g
    Inttrest is more than basis limit and taxable income is below limit due to 80 c that can file 15 g
    What best solluction
    Kapoor p

    1. If you are non-senior citizen, then you cannot submot form 15G in case The aggregate of the interest etc. received during the financial year exceeds the basic exemption slab

  15. Hi,
    I’m NRI (Singapore) would like invest in FD in SBI, What is the current FD Rates?

    Which Plan is better as I have 2 options…under…
    1) NRE FD
    2) SENIOR CITIZENS FD ….My Parents (Above 60 years)

    Which Option is Best to get good benefits and What about TAX?


  16. Hi sir,
    I have made 2 FDs in same bank one is 80,000 and second is 90000 for 3 years each.after 3 years the total amounts are rs.101,000 and Rs. 118,000 .and i didnot submitted 15G/15H form .so the bank deducted Rs.10,000. can i get that money by applying for income refund?

    1. You can file the return & need to show the FD interest as Income and claim the TDS deducted. if you are already in higher tax bracket, you may need to pay additional taxes. For e.g. if you are in 20% or 30% tax bracket, you need to pay tax on yoru FD interest as TDS is only deducted @10%.

  17. Hello Vivek,
    please clear my doubt about the tax exemption slab, my mother has saving account with balance 10 lac and FD of 30 lac too, so the earned interest calculated would be addition of both saving a/c(i.e. 4%) and FD(i.e.8.5%) ?? or tds will be deducted for interest earned on FD only??
    also plz tell me can I create FD in different bank for avoiding tds as its interest>10k (it would work even after same PAN??)
    or i should make with a different member of my family who has zero earning income.

    1. Hi Prasoon,

      1. Both FD Interest & Saving Bank Interest is Taxable.
      2. There is no TDS on Saving Bank Interest and You can also claim deduction upto Rs 10000 u/s 80TTA for Saving Bank interest.,
      3. TDS is deducted on FD Interest if it is more than Rs 10000. If you split your FD in different banks, TDS will only be deducted by bank if the interest in their bank is more than Rs 10000. Whether TDS is deducted or not, you need to show all Income while filing the return.
      4. You can gift money to different adult relative and in that way the FD interest on that gift amount will be borne by other person.

      1. hello vivek,

        1.can i claim deduction 10000 u/s 80TTA for FD interest.
        2.if total interest on saving account(6000) and FD account(6000) is 12000 then how the tax will be calculated and would be filed in ITR?

        1. 1. Yes, you can claim Rs 10000 as deduction u/s 80TTA for Saving Bank interest.
          2. You need to show Rs 12000 as Income from other sources and then claim Rs 6000 u/s 80TTA.

  18. dear sir, we have put deposit in sbi of Rs. 7 lakhs in name of our(AOP) Shri Umiya Parivar,bank is not accepting form 15G for Not to deduct tax from interest. we have PAN Card under head Of AOP so it is complasary for bank to dedcted TDS on interest even if we are giving 15G form.Also we have to know for HUF deposit interest also we can give form 15G is valid or not.

    1. Any individual, HUF (Hindu Undivided Family), Trust, Association of Persons (AOP) or Body of Individuals can submit Form Number 15G if they meet the conditions.

    1. Form 15G can be submitted by an individual or a person (not being a company or a firm). So HUF, AOP, BOI can submit Form 15G.

      But Form 15H can only be submitted by resident Individual who is above sixty years of age or completes sixty years during the financial year

  19. hi im getting my gross sal is 250000 and i have fds interest total is 80,000 and iam investing under 80c,80ccd..etc …i declared all these things to my employer…now my income it is showing as 1,35000/- now total my fds if u add this still it wont come to 250,000/- now do i need to file a tax showing all these details….is it required?? plze guide me

    1. Hi, If your Gross total income is above taxable limit, you need to file the returns. As in your case, the gross income is above that limit, you should file the returns.

      Also, if the TDS is deducted by your employer or Bank, you can file return & claim the tax refund. As your Bank FD interest is 80000, Bank would have deducted the TDS amount. Please check with your bank or check your Form 26AS online.


      Also, filing IT return will be handy if in future you need to apply for loans , credit cards etc.

  20. Sir,
    I have retired on 31/12/14.Now I put money in FD in Bank,and opt for quarterly interest,then I will get the interest money in April second week,that means in next financial year.Advise me whether I have to give form 15 G or H?

    1. Even if you get money in April, it is for Jan-mar 2015 period. If the amount for 3 months is more than 10000, then you need to submit form 15g/h to avoid TDS.

  21. Hi vivek, can u please tell me if i give cash as a gift to my wife so will it be taxable or not? Also if i create fd for rs. 10 lacs by the name of my wife who is a housewife and does not have any other source of income, so will the intrest earned for fd of 10 lacs will be saved by submitting form 15g?

    1. Hi Ankit,
      1) giving gift to wife is not taxable.
      2) however, any interest earned on FD made through amount given to wife (without any consideration) will be clubbed in your hands.

      1. I got ur point that interest earned on fd will be clubbed to my income. But if my wife’s father who is a retired person give cash gift to her then the interest earned through fd will not be clubbed to my income and also she can save tax by submitting form 15g as she is housewife with no income from other source. Please clarify this to me

        1. if your wife’s father give her gift , then the income on FD will be treated as her income. She can submit the form 15g/h.

  22. Dear Sir,

    I am having a doubt that i have invested Rs 20.0 Lakhs as term deposits in banks with 10 percent interest rates and getting an interest of around 200000 per year and i dont have any other income but i having 6 acre of agri lands and agri income will be 100000 ,, whether i am liable for tax or am exemted for agri income.. Plz clarify..

    1. Agricultural income is exempt in India as power to levy tax on Agriculture is with State government.

      However agricultural income is taken into consideration to determine tax on non agricultural income

      1. Add both Agri & non Agri Income
      2. calculate tax on total income
      3. add agri income to the basic exemption limit and calculate tax
      4. subtract tax in step 3 from tax in step 2. it will be your tax payable

      e.g step 1 = 2 lac+ 1 lac = 3 lac
      step 2: tax = 5000
      step 3: 2.5+1 = 3.5 & tax will be 10000
      step 4: 10000 – 5000 = 5000 payable.

  23. Hi Vivek ji, I really appreciate your efforts in clearing several queries and I thank you for that.
    I too have a query. Am a salaried employee with taxable income of 2.5 lacs (after 80c, hra deductions etc) and also I have earned interest on fd which is around 16k for this year. When I asked banking person he asked me to submit 15h form and that will take care of tax exemption part. He explained me that bank will deduct tax only if one earns more than 2 lacs as fd interest. I still have a doubt whether it is 2 lac on the total income or its the 2 lac income from exclusively fd?
    And also what about fd interest earned by sr citizens who doesn’t have any other income source

    1. 1) Bank deduct TDS if the total FD interest is more than Rs 10000 in 1 financial year.
      However, you can submit form 15G so that no TDS is deducted. You can submit Form 15G only if
      a) The final tax on his estimated total income should be NIL ; and
      b) The aggregate of the interest etc. received during the financial year should not exceed the basic
      exemption slab ( Rs 2.5 lakhs)

      If after all deduction, your taxable income is Rs 2.5 which is equal to exemption tax slab (which means you donot need to pay any tax), then you can submit Form 15G.

      3) Senior citizen – can submit form 15H, if satisfy the conditions above in the post.

  24. Hi Vivek, you are doing a great job here by helping and answering our queries… Good Job mate….

    Now, coming to my query… I am 24 yrs old from Chennai. I have deposited 1 lakh rupees as fixed deposit in SBI bank for 1 year. In SBI, they offer 8.5 % as interest on FDs. So my income would touch anywhere between 8,500 and 9,000 in a year. As I know my income on interest earned won’t exceed 10,000 Rs, should i still submit 15 H or 15 G form to prevent bank from deducting tax on my fixed deposit interest?

    Another query is, how is a financial year calculated ? Is it from January to December or April to March?

    thank you in Advance!!!!

    1. Hi Samuel,

      The financial year is April – March.
      If the total Interest for April – March donot exceed Rs 10000, bank will not deduct TDS. However make sure your PAN is updated in the bank & FD. otherwise bank will deduct 20%.

  25. Hi sir. My father was a govt. Enployee and died. Now there all fund and other saving money comes in my mothers a/c. In this case tax is deducted from saving a/c.and i planed for fd in bank for 1 year. 10 lak mother and 5 lak brother and 5 lak myself. Mothers source income is pension. 1.6 lak per annum.and both brothers income is nothing. Students both manage 60 thousand in saving a/c. Are we illegeble for 15G form to relief from tds

    1. Hi Bhupendra,

      if you make FD as follows:
      Mother – 10 lakhs
      Brothers – 5 Lakh each, then your total income will be below the basic exemption slab.

      In such case, you will be able to submit Form 15G (both brothers)

      Also, your mother will be able to submit Form 15G as long as her total income is also below taxable limit of rs 2.50 lakhs.

      1. Sir i m vinoth i hve two fd on my mothers name one for 5 lakhs in sbi and one is 1 lakh in boi we r submitting 15h form is it under taxable. She is not earning anything and i am a nri working in saudi arabia. Pls advice thanks

        1. So what is your query. You are submitting form 15H and bank is not deducting TDS. then what is the issue?

  26. Dear Sir,
    I have 2 FD’s of total 2 L in one bank on which I get interest of around Rs. 18000 per year.
    My total income is not taxable.
    I’ve already submitted form 15G last year along with PAN card which is already submitted at account opening.

    Now, I wish to open a new FD of about Rs. 10000 in another bank.

    So, I was wondering that should I submit form 15G at both banks or only one bank? (as the total interest accrued by them is taxable)

    AND, should I furnish details for all FD accounts of different banks in same form 15 or not?

    1. Form 15G need to be submit every year to individual bank.
      Note that if interest for 1 bank is not more than Rs 10000, they will not deduct TDS.

  27. my father had 3 fixed deposits of rs. 1 lakh each with himself as the first applicant and and my mothers name as the second applicant . my father passed away last year on december can my mother submit the 15 g form on his behalf?

  28. Dear Sir, I wish to open FD of total amount of 1 lakh. ( four fd’s of 25k each). My annual salary is not taxable and these are my first FD’s.. I only have a RD of 2.5 k per month and will be matured this year in July earning me an interest of about 3k.. Other than that I do not have any RD or FD.. Will TDS be deducted from my FD’s interest.. Also am I elegible to submit form 15G..

    1. TDS is not applicable on RD.
      Regarding FD, if the total FD Interest is less than Rs 10000 in a year, no TDS will be deducted by Bank.

  29. Vivekji,
    I have a quotation , my mother & father have deposit to firm. and firm deduct tds , so can we produce from 15h, also i want to deposit of my wife at firm. all person’s income is not taxable


  30. My gross salary for14- 15 is 230000
    other income from national saving scheme invest by father is 50000 which i received by cheque.
    Total interest from fd is 35000 (i have already submitted 15Gto bank)

    After investing 80 c (45000) my income is now 270000
    270000 – 250000 excemption limit = 20000

    Applicable tax 2000 which i have rebate as87A

    So totat tax is now nil

    My question is can i eligible for 15G

  31. Dear Vivek,
    My father in-law has just retired from BHEL on 24 Jan 15 he is a senior citizen & he got some fund of around 30 lakh.
    Now he is going to do 2 FD of amount 5 & 15 lakh @ rate of 9.25% cumalative interest. Is he liable to pay interest. if yes can he submit form 15 H to avoid the TDS in this financial year or he has to submit in next financial year as he is going to do FD in March-15. also suggest the maximum amount upto which no TDS will be deducted.

    Thanks & Regards

    1. Hi Naveen,

      If the FD interest is more than Rs 10000 in 1 financial year, TDS will be deducted. Fr even for FY 2014-2015, TDS may be deducted depending on how much interest is acrued.

      2) He can submit Form 15H to avoid TDS.

      1. hi
        sir ,
        i have saving bank acount in Sbi , i want fd about 2.5 lacks , iam duing job in privet firm my yearly income is 80000( eighty thousand) per year , if i would fd in bank , bank will deduct tds or not . what should i do

        1. Hi Rajesh, if you put rs 2.5 lakh in FD, then the interest will be more than Rs 10000, TDS will be deducted by bank @10% (if PAN is updated). if PAN is not updated,. TDS will be 20%

          But as your income is below limit, you can submit form 15g to the bank for not deducting TDS.

  32. Dear vivek,
    I need your kind help towards following.
    My grand father (sr citizen)has done a FD in monthly income scheme ,hence a sum of around 2606INR getting deposited in SB account in each month.But during 2013-14 FY a sum of 522INR deducted from October to march in each monthtowards TDS. THIS FY he submitted 15H form n now he getting full amount. Nw how to refund these deducted amont pls guide me.
    Durga Prasad.

  33. I am a student and my father works abroad. I do not file any returns as I have no source of Indian income. I have my savings account in which my father sends money from abroad though which I made a fixed deposit for a year whose interest came up to 11495 and TDS was deducted amounting to 1151 as I had not submitted my 15 G form. Please let me know as to how can I get the refund.

  34. I have joint a/c with my mother in Bank where i have some FDs. My mother is first a/c holder. My mother’s source of income is agriculture which is exempted from tax. Even after Bank deducted TDS.
    Is it right ?

  35. Hi vivek,

    I wish to open an FD of 60 Lakh (30 Lakh each in my A/C and Wife’s A/C) . Is there any way to avoid TDS?

  36. Hi sir,
    I am living in abroad & have a NRO FD with my father,he is in India for 3 years of 450000/-. I am not submitting any incomtax form,since last 2 years.what should i do,pls tell me.


    1. What do you mean by NRO FD with my father. The NRO FD should be in your name.

      If the Bank has deducted TDS, you can file the return online and claim the refund.

    1. You can claim TDS when you file your income tax return. Normally within 6 months, income tax department issues the refund.

      It is better to file the return online & give bank account for direct credit of refund.

  37. I am a tax payer for the last 4 years and during the last 4 years also I am having FDR in the bank and I was also showing the interest income as my income from other sources while filing return.
    But I had submitted form 15G to the bank and therefore the bank never deducetd any amount from my FDR interest but I have honestly paid tax on each and every penny of interest income during all these years.Now I read your post..
    was this a correct practice??Should I continue doing the same in future??
    Please advise…

    1. If you donot qualify the 15G/H requirements, you should not submit wrong declaration in that form.
      Even if the TDS is deducted by bank, you can claim it while filing the returns.

      1. can it trouble me in the future??
        I was ignorant of the issue hence this happened. Will be cautious in future…

        1. As long as you have declared the income in the ITR and paid all the taxes, there should not be any issues.

  38. one of my FD’s maturity date is 2nd of april, 2015. when should I submit the 15G form so that the bank does not deduct the tax? can I submit a 15G form before the starting of a new financial year?

    1. As the 1 day interest may not be more than Rs 10000, so TDS will not be deducted. So you may not need to submit Form 15G.

  39. Dear Sir,

    My doubt is I have FD in two diffirent banks arround 7 lakhs,I am depositing arround 40000/- in 2 accounts every month
    I am earning money from my salary,internet jobs & agricultures.Can Sumbit Form 15G to my bank for not deduct any tax from my accont,Kindly give best suggestion to me.My salary is 1lakhs every year.

    1. Hi Tapan, If the interest in 1 bank is more than Rs 10000 in 1 year, TDS will be deducted. As your income is Rs 40000 per month (approx 5 lakh), form 15G will not be accepted.

  40. SIR,

    1. Hi Saiyam, There is no way to avoid TDS as the interest will be much higher. Also, you will still need to show the income in tax return and pay tax.

  41. hi vivek,
    i am new with taxation.i am a salaried person,my annual income is below 2 lakhs..last february i invested 1 lakh as FD(interest rate 9%).it was jointly done with my mother’s(senior citizen) name on top.she has no other income..so my query is do i have to submit 15G or 15H form..and if i dont submit what will be the consequences??..pls help

    1. If the interest for that year is less than Rs 10000, then there is no issue as no TDS will be deducted.

  42. Very good information on Form 15G and 15H, please update it can be given to any other entity other than banks,

  43. My income falls under 20 % of tax slab and I have few FDs in bank. Bank deducts 10% of TDS, however I should be paying 20% of TDS. My understanding is, that I need to pay rest of the 10% on interest earned. How can i do that? Is there a way i can pay it together (either by me or via bank)? I hope the question is clear.

    1. Hi Vikas,

      You need to add the total FD income in yoru Income tax return and then calculate the taxes.
      After claiming TDS, you need to pay the balance amount of tax as “Self assessment tax” by filing the challan 289.
      You can pay the tax online of by visiting the selected bank branches.

  44. An odd query. Why the assessee is supposed to tell the bank to deduct or not to deduct tax. Are banks not aware of the assessee’s tax.

    1. They dont have to tell the bank. Bank will deduct TDS @10% if the interest is more than Rs 10000.
      However, if the assessee meet the condition for form 15g/h, they can submit the form and TDS will not be deducted.

      How the bank will know the tax status of assessee.

  45. My friend have one fd of Rs 5.5 lac for period of 10 years i.e. 2007-17 and the maturity value of fd is approx 13 lac. My query is that can he still fill the 15g form. He is a student. Fd is opened in under guardian as he was minor at that time but now he has turned into major and clarify me one more thing that if he can fill 15g form then can it be signed by him or it has to be signed by his guardian..?

    1. Hi Abhinav,

      You need to submit Form 15G every year. TDS should have been deducted in all previous years 2007 – 14 if no Form 15G was given.
      In which bank you have this FD?

  46. Vivekbhai,
    My question is that we are doing maintenance of our society in which we collect some Rs.from the flat holder and pay all utilities Bills. We have deposited about 4 lacs Rs. in Dena Bank. This year bank refused to accept 15 G form. I was submitting form since last five years. They say from this year rules have change and we shall deduct TDS from the interest. Please advise.


    1. Hi Hemesh,

      In whose name, the bank account is ?

      Any individual, HUF (Hindu Undivided Family), Trust, Association of Persons (AOP) or Body of Individuals can submit Form Number 15G if they meet the conditions.

  47. Dear Sir,
    Ours is an Flat Owners Association. We have certain FD’s with Bank. Can we submit Form 15G to Bank. We come under AOP category. Please reply soon.

  48. Sir,
    Please guide, my father in law has retired recently and deposited 30 lacs as fixed depaoit (MIC)with interest rate of 9.55. is he eligible to submit 15H?
    Thanks for your support

    1. What is the age of your father. If he is below 60, then he can submit form 15G only if his Interest Income is less than Rs 2.5 lakhs.

      In your case, it seems that the interest will be more than rs 2.5 lakhs and therefore he cannot submit form 15G.

  49. for financial year 2014-2015.my annuall income was 310000 and the pf fund from my salary was of 30400.
    i have an fd of 250000 on which the tax was dedcuted at the rate of 10%.i credited 14000 in my ppf account last year.the system wrongly deducted the tax of 2300 from my salary.can i file the return and how much? do i need to mention the income of my fd interest on which the tax was already deducted

    1. Yes you can file the return & claim the TDS amount.
      You need to show the FD Interest as Income from other sources and also claim the related TDS amount in relevant section of the form.

  50. dear Vivek, my mother aged 70, expired after brief illness on 12 march 2015. She had FDs in two banks, totalling around 50 lakhs in one, and 10 lakhs in another, in joint name E/S. Because of hospitalization she couldn’t submit 15H this year before March end unfortunately. I am aged 40 plus, unemployed at present, my PAN card received last week, my query is can I submit 15G for all unmatured FDs ?? please guide and advice…

    1. Legal representative or other joint holder can submit the Form 15G/H. The income for 2014-2015 will be of your deceased mother if she is FIRST holder and it will be her income. So the Form 15H should be filed in her name and signed by you as Legal representative of deceased.

  51. Sh.Vivek,

    Can a nominee for a bank deposit given form 15 G / H after the deposit is transferred to his name? Of course the nominee is having income less than the taxable limit. Please clarify. Thanks.

    1. Only Legal Heirs or Legal Representatives or Executor (in case of will) can deal the tax forms and returns for deceased person.

  52. my saiannual income is 840000. i have two F.D. of rs 3.5 lac &2.5 lacs in different bank. My salary tax is deducted @20%. banks are deducting T.D.S. Should i file 15G form i have no idea. Please guide me

    1. You cannot file For 15G as your income is more than taxable limit. You should give your PAN in the bank otherwise they will deduct deduct TDS @20%. If you give PAN, they will deduct @10%

      When you file your returns, you can claim these TDS and if it is more than Tax due, you can claim refund.

  53. Hi Vivek,

    My taxable income exceeds 250000 but i did submitted Form15G to bank.
    I should have avoided submitting Form15G knowing my taxable income is more than 250000.

    Could you please advice on what action i need to take if i am liable to pay for the interest which bank paid for the FD.


    1. Hi Rajesh,

      You can submit the request to bank to not to submit form 15G.
      You still need to include the Bank FD interest in your total income when filing income tax return.

  54. Hi Vivek,

    I’m 62 yrs old. I earn around 1.4 L Per Annum, by way of interest on Fixed Deposits (in Banks). I also work as free-lancer consultant, thru which I earn about 2.5 L Per Annum. Can I submit Form 15-H, as I crossed 60 yrs?

    With Best Regards,

    Pradeep Joshi

    1. As you are above 60 years, you can submit Form 15H only if your estimated tax for that year is NIL

      As you total income is Rs 3.9 lakhs, you need to invest in tax deduction instruments, so that tax payable is NIL.

  55. Hi,

    My sister is housewife,Means no earning.But she is having FD aprox 8lac in SBI account.So She can fill form 15G or not.

    Interest amount is more than 10000.

    Please reply .

  56. Hi Vivek

    Is interest earned from Tax-free Bonds to be counted in the 2.5 lakh exemption limit for Form 15G? I earn Rs. 2.2 lakh as Bank FD interest, and Rs. 1.6 lakh from Tax-Free Bonds. Can I still file Form 15G? I have no other receipts/ income and my tax payable is nil.


    1. The conditions for Form 15G, only a person not being a senior citizen satisfying following two conditions can submit Form 15G –

      Tax liability on estimated total income for the year under cosideration shall be NIL
      Total interest income from all the banks and sources shall not exceed the basic exemption limit

      But as the Total interest income is more than Rs 2.5 lakh, you cannot submit Form 15G.

      Even if the TDS is deducted, you can file the return and claim the refund.

  57. Dear Sir,
    I am a banker. I want to know can a minor submit 15g. He has his own PAN. If yes, then who shall give the declaration in 15G? The guardian or the minor (form signed by guardian)?
    And also i would like to know can a trust submit 15G?

    1. Form 15G can be submitted by minor where the guardian can sign it.

      Any individual, HUF, Trust, Association of Persons or Body of Individuals can submit Form No. 15G.

  58. Dear Vivek,

    Hats off for extending your selfless efforts in saving our hardearned money.
    though your replies to above queries makes the sky of doubt very much clear still i wanted to know that if an employed son is transferring money to his father’s account (>60 yrs age, no other income source & have submitted form 15H in bank) and father is making fd of say Rs 2 Lacs every month then is it compulsary to make a letter of gift on rs 10 stamp, if yes then whom to submit?
    My second query, Does the father has to file his ITR as his accrued interset is less than 2.5 Lacs.

    1. 1) As the father is of more than 60 years of age, he can submit form 15H, if the tax on his total income is NIL. For senior citizen, income upto Rs 3 lakh is not taxed.

      2) He does not need to file the return if his income is less than Rs 3 lakh

      3) The gift can be made on Rs 10 stamp. there is no need to submit it to anyone. You need to keep this for your records so that it can be submitted to Income tax in case of any scrutiny.

  59. My father was retired from job and plan to quaterly income through fd about 30 lacks . Can he submit the 15 g form. His age is 56. Is there any tax deduction from the intrest rate from fd?

  60. Sir my annual salary income is 4.5 lacs. My agriculture income is 4.5 lacs . i m eligible for tax and by how much. Pl show me calculation. Also clarify if i deposit 1.5 lacs in ppf account.

    1. Agricultural income is exempt from Income Tax under section 10(1) of the Income Tax Act, 1961. However, its included, for rate purposes, in computing the Income Tax Liability

      First, include the Agricultural income while computing your income Tax liability.
      Example – Lets say Salary income is 4.5 lakhs (excluding Agricultural income) and a Net Agricultural income of Rs 4.5 lakhs. Then, per this step, Tax shall be computed on Rs 9 lakh. take 80C benefit, so tax will be on 7.5 lakhs.
      Thus, income Tax amount as per this step shall be Rs 75000.

      Second, add the applicable basic Tax slab benefit, as applicable, to the Net Agricultural income. Thus, per our example mentioned above we shall add INR 2,50,000/- to Rs 4.5 lakh. Now we will compute income Tax on Rs 7 lakh. The amount of Tax shall be INR 65000.

      Third, subtract the Tax computed in Second step from the Tax computed in First step = Rs 10000.

  61. Dear vivek sir
    I deposited form 15g on 02.05.15 saturday
    having no income from 1st jan 2014 to 30th april 2015 from any source.
    my FD of 5 lakh on 30 july,2014 mature on 31 july 2015 mature value 5.47 lakhs.got sms from bank for 15g to avoid TDS.So i have filed form 15 G.
    Now i have got a job and i will be joining job around from 15th may,2015 salary of 35K ctc
    4.2L PA. i learned having wrongly filed 15 g form.the salary i will get be after deducting TDS.
    i read that in form 15 g there is one column where we have to write our estimated income for the financial year but i have not written any thing like this on form 15 g since i have not found any column related to it where i must have declared my estimated income from my salary.what best i can do.

    1. Hi Roy,

      The form 15G you have submitted is for FY 2015-2016. There should not be much problem as at the time of filing the form, you had no other income.
      Also whether the TDS is deducted by bank or not, you need to add FD Interest in your income and pay taxes accordingly.

      1. Thank you for your reply sir.If you can clear one thing that if i go to bank tomorrow and ask them to revoke the form is it possible.can i be imprisoned for this ignorance.i will never file form 15g in my life again let them deduct as much tax as they want.

        1. Hi Ram, Don’t get scared so much. You will not be imprisoned. You can ask your bank to withdraw form 15G. Even if they cannot do so, it should not face any major issues.

          1. Respected Vivek sir

            I thank you so much for the precious priceless advice you have given for my query.i was not able to eat food due to stress of the stupidity i did when i was already going through tough times of my life .. jobless for past several months.love you sir… thanks
            you Rock…sir

            Jai Sri Krishna..

  62. Hi Vivek,

    Your article is thoroughly describing the points related to form 15G/H. I have little query.
    For senior citizens above 60 years, there is only eligibility that the final taxable income should be NIL. Is it means after claiming all the deductions, it should be below threshold limit of 3 lakh

  63. Hi Vivek,

    Your article is thoroughly describing the points related to form 15G/H. I have little query.
    For senior citizens above 60 years, there is only eligibility that the final taxable income should be NIL. It means after claiming all the deductions, it should be below threshold limit of 3 lakh or before claiming deductions. For example, if any senior citizen is having 4 lakh income per year & he is contributing 1.5 lakh in PPF, then ultimately his income is becoming below taxable, then at this point is it valid to give form 15h.

  64. Hi vivek ,
    As I deposits 24 lakh as FD with my mom and I didn’t submit 15 g or 15h form . last month I got dedication in my interest amount abt 1800 . and I am staying at Hyderabad and my account is in different state . should I deposits my 15g form from any where or need to go my hometown and then filled from there.

    1. Hi Abhishek,

      The deduction of RS 1800 was for which year – AY 2015-2016 (FY 2014-2015).

      You can file Form 15G for FY 2015-2016 now. In which bank you have the FD? Normally private banks allow you to submit Form at different branch.

      1. STILL NOT..
        YOU CAN SUBMIT ONLINE 15G..even from JUPITER..

        but for sbi..you can only generate form 15g/h ..THIS form will contains all details written onto it..
        you just have to take a print ( 3 copies and go to the branch and submit manually )
        tell to someone in india..and mail this pdf ( 15g GENERATED PDF ) TO THEM..
        and then tell them to take a printout 3 copies and submit to the branch ( the branch in which FD is made ..becuase you know thats how sarkari banks work )

  65. I am a non salleried person having income from
    1) Private tuitions ( 140000/-)( without any record)
    2) From interest on FD (200000/-)
    & I have saving under 80c 100000/-
    I have submitted 15 G
    Now I also want to file the income tax return what form should I Fill & under what head I should fill the source of income please guide.

  66. Dear Vivek,

    I have gone through your main article and almost all the doubts and your valuable suggestions till date. Its really very useful and helpful to clear the doubts on taxation on FD. My little doubt stands as follows:

    1) For a senior citizen only condition for submiting 15H is that “The final Tax on estimated total income should be NIL”. So in this circumstance giving you an example. If my mother is a senior citizen and there in no source of income and is only house wife. If she is having FD more than 27 lacs @ 9% (annual interest > 2.5 lacs), whether will she be eligble for submitting 15H?

    2) Form the condition of “The final Tax on estimated total income should be NIL” – if you please explain little bit what are the type/source of income is considered for senior citizen? I think it would be like Pension, etc not the income from interest from FD?

    1. 1) Yes she will be eligible to submit Form 15H
      2) You need to include all the Income and estimate if any tax will be payable.

      1. Thanks Vivek for your response. I’m clear with the 1st answer.

        To get bit clarity on 2nd answer I’m sighting you another example. Say, a senior citizen is having pension around 1.7 lacs/year and having some FDs at different banks, PO and yearly interest around 1.5 lacs/year. So as his/her total income (considering pension only) is less than 3 lacs and thus the taxable income is coming as NIL which satisfying the only criteria of submission of 15H for the senior citizens. Now please confirm whether which one of below is correct:

        1) he/she can submit 15H? or
        2) his/her total income would be considered as 1.7+1.5=3.2 lacs and 20k will be considered as taxable income (which is not NIL) and he/she won’t able to submit 15H?

        1. In that case, as his total income will be 3.2 lakhs and if does not make any tax saving, he will have to pay the tax on 20000.
          So, he cannot submit Form 15H.

  67. Hi Vivek, My query is, I have 2 FD about 2.20 lakhs and one RD is approx 6 lakhs in one bank, my gross salary is around 5.80 lakhs/PA, the bank has been deducted tax from interest in FY-2014-15 and i also received the TDS certificate from the bank, i wanted to submit 15G for not deducting interest on FD/RD for FY 2015-2016, can i submit 15G in before June to the bank in this regard?? if i submit, shall the bank will not deduct interest??

    1. Hi Prakash, As your income is above taxable limit and tax will not be NIL, you are not eligible for Form 15G.

  68. Sir

    My son-in-law is supposed to submit 15G but right now he is abroad. Can his wife sign the form and submit since GPA is in her name. Kindly advise

    1. Hi Surekha, each bank can take different view. it is better to check with the branch. But idealy they should accept the form with GPA holder sign & GPA copy.

      Or your son can sign the forn 15G and send it by courier.

  69. Hello Sir,

    Our Bank (SBI) has deducted TDS on our Interest on FD’s even after the FORM 15G was submitted in April 2015.
    Bank says there CA has deducted the same & we spoke to Bank CA & he said to refer to sec 197 & 197A of income tax.
    What action can we take against the Bank & CA of Bank as they are not following Income-Tax rules. I want this case to be taken to IT Authorities & wants the Bank CA License to be suspended immediately. How to go about the same, please advice.

    Aashish Desai

    1. Hi Aashish, It may be possible that ITO has rejected your form 15G. Do you satisfy the conditions for form 15g – i.e. Your income is below taxable limit and interest is not more than taxable limit.

      Even if the TDS is deducted, you can always file the returns and claim the TDS amount , if you donot need to pay tax normally.

      I am sure you are frustrated with the bank’s action, but the bank license will not be suspended just because they have deducted TDS.

      1. Dear Vivek Jain,

        Thanks for your reply.
        Yes our AOP is eligible to TDS exemption as our total interest (including accrued interest) is around Rs. 1.10 Lacs per year.

        The question is not about file the returns & claim the TDS back, the question is about IT policies & Bank attitude (specially the Bank’s CA) THEY ARE INTENTIONALLY CREATING TROUBLE.

        As per my knowledge, we are not supposed to even file the returns as it fall under “Concept of Mutuality” Our association is an Non Profit Organization exclusively for meeting long term maintenance of our Flat.

        1. Hi Aashish, You can complain about this bank action to their internal compliant process or Nodal officer or banking Onbudsman.

          Which Bank it is ?

          1. Hi Aashish, I am not sure what can be done now. It is difficult to convince the Public sector bank to refund the amount or change the TDS return.

  70. i have no pan card & my bank deposit interest will be 10000/ more in f.y 2015-16 i will be sumbite 15G form to bank

  71. My father is a pensioner person having income from
    1) From pension ( 290000/-)
    2) From interest on FD (500000/-)
    & have saving under 80c 100000/-
    he has not submitted 15 G & accordingly TDS has been deducted
    Whether he has to file income tax return

    1. If the TDS is deducted, he can file the return and claim refund, if excess. Whether 5 lakh is FD amount or interest amount ?

      1. IS is mandatory to file return
        because if i file the return the total income (Pension & interest ) will come in 20% slab & more amount of the tax i have to pay ten the TDS deducted .

  72. In 2013-14 I have submitted 15 G during initial days for a FD of 120000 & latter on I realized my income from the interest will be more then the limit for 15 G .bank has not deducted TDS on that FD what action I have to take
    I have not submitted ITR for that year

    please guide me

  73. Dear Sir,
    Despite Zero investments in any sector,is 15G mandatory to submit to the company for the purpose of my Provident Fund claims since the company adjoined me to submit.

  74. Hi,
    I want to withdraw my PF amount but as per new EPFO rule it PF amount will be taxable if its Rs.30,000 or equal or you withdraw it before 5 year. My amount is more then Rs.30,000 and services is only 2 year in this case i need to submit the form 15G to take it tax free but i am little bit confuse about form 15G ,Part-I of it is filled up by me but who will fill the part-II ,Is it filled up by my bank or my last emplyer ?? please suggest

  75. Dear sir,
    Is it necessary to give PAN no. in Form 15G.Tose having not PAN card what he/she will do.

    Please give the solution about it.

    Thanks& Regards

    1. For 15G, PAN number is mandatory.
      If you donot have PAN and enter the transactions where PAN is required, you need to submit Form 60.

  76. Sir,
    I have FDs of amount 900000 in Sbi. Each year I submit form 15g to the branch.but 10% TDS gets deducted every month as it is a monthly scheme.My father is no more and we have only source of income as interest of above amount.What to do?please clarify?

    1. Hi Nishant,

      If you have submitted Form 15G and meet the conditions, TDS should not be deducted. please visit yoru branch and check why TDS is deducted. It may be possible that they have not considered your Form 15G.

      Also, at the year end you can file the Income Tax returns online and claim the TDS in the return & refund accordingly. File online return & request bank credit for refund.

  77. 15G not submitting (Bank reply to me 15G not submitting 15 lakhs and above amount )when I deposits a sum of Rs. 15 Lakhs of F.D…what is reason or details?

    1. Hi Nemai,

      You should tell them that you are eligible to submit Form 15G as long as the Interest amount is less than the basic exemption limit (2.5 lakhs) and tax on your total income is NIL.

      If they disagree, please speak to branch manager.

  78. When I deposit the amount of Rs. 15 Lakhs as F.D., the branch manager told that you will get interest on f.d. of rs. 1,23,750/- per year, hence, 15G can not support/putting in our system computer for RBI rules. Is it correct method?
    I told the branch manager accrued intt of f.d of rs. 1,23,750/- per year, that the limiit/slab of Income Tax Act for the F.Y.-2015-2016 is 2,50,000/-. Why did not support 15G in bank’s system computer ( 15 lakhs)?………….Please I want to reasons/system in this moment.

    1. Hi Nemai,

      The response from bank manager is not correct.
      Form 15G can be used as long as Interest is not more than the Basic exemption limit. You should tell them to write to Nodal officer or Banking Ombudsman.

  79. Sir,
    I have a FD of Rs. 4 lakh which is going to mature on 18 july 2015 but during march 2015 Bank has deducted TDS. Whether now i can submit Form 15 G before 18 july 2015 for non deduction of TDS.

    1. Hi Ashutosh,

      As the Interest for 2014-2015 was more than Rs 10000, Bank has deducted TDS.

      You can submit Form 15G if you meet the conditions non non deduction of TDS in FY 2015-2016 (In that case, TDS will not be deducted for interest from April 2015 to July2015)

  80. I am an NRI having NRE FD Thetre is no TDS
    On my retirement or at the age of 60 will there be TDS on my FD
    Please reply in detail

    1. NRE FD is tax free and there is no TDS. As per current rules, TDS is not applicable on maturtiy of NRE FD.

  81. Dear Sir,
    The web site is really an informative, interesting and very much useful for all.
    I am working in middle east for past 12 years. I am planning to make FD of approximately 12 Lakhs in this current year. I have the following doubts.
    1) I want to pledge my jewell in bank (India) and make the FD for approximately 10 Lakhs in my father / Father in law name. He is approximately 76 years old. I would like to make the deposit for 10 years. In this case, do I get the tax exemption when I get the matured amount??? In FD my son (Age of on today is 14) will be the nominee and during end of 10th year, if my son is eligible to get the FD including the maturity, will there be any deduction in that??? what are the documents he should have to avoid the tax..
    2) If I deposit the money through NRI account for 10 years of same 10 lakhs, will I get tax exemption for the matured amount?? If I take a retirement from middle east and want to settle before the maturity period, then the matured amount will be considered as NRI / normal ….. taxable / non taxable???
    3) How many times I can make the FD by the above method?? If I do it consecutively for 4 to 5 years of same practice, will be any hidden tax system will be there??

    Kindly advise.

    1. Hi Ramesh,

      Please let me know which money you want to put in FD? Whether the money which you already have or whether the money you will get by pledging jewellery in India.

      1) The FD maturity amount is not taxable in anyone hands. It will be the FD Interest (each year) which will be taxable (whose name is on FD).
      If they donot have any other income, they need to submit form 15G/h, to avoid any TDS deduction.

      2) NRE FD is tax free and there is no tax/tds on NRE FD Interest. You can not deposit money in NRE account directly. You can send money from overseas into NRE Account. Or you can transfer funds from NRO to NRE Account on submitting some documents to bank.

      3) There is no hidden tax system.

      Please let me know what you want to achieve with this structure, so that I can suggest any better method.

  82. Dear Sir,

    My mother (age 59) earns pension of 3 lac per annual and she also earns 2,60,000 of bank interest. Total more than 5 lacs per annual. My question is,

    1. Can she get back the deducted money made by bank and employer?
    2. How many days it will take to get our money back?

    Because some says that if the tax deducted from you, it goes to build the nation and you wont get it back.


    1. Hi Arun,

      You can file the return and calculate the income tax due. If the TDS deducted is more than the tax payable, then you can claim refund.

      What pension does she receive? Who was her emplopyer ?

  83. Hi Sir,

    I decalred income from other source(Interest on FD) in my company and submitted form 15G in bank and also to my HR along with investment proof.
    However Tax on that FD is deducted by my company.
    My Total Income was 5,25,000+60,300(Interest).
    Please let me know If I am applicable to get tax deducted on FD interest back? If yes, how I can claim that refund?
    Also as my company deducted tax on that, bank will also deduct the tax on same amount at the time of FD maturity?

    Kindly advice!! Thanks a lot!!!

    1. Hi Deepali,

      1) How did you arrived on 60300 as FD Interest? Is this the interest amount for that year only or accrued interest ?
      2) I am assuming this is for FY 2014-2015
      3) Check Form 26AS to see how much interest is credited by bank & how much TDS is deducted by them. See the link below for Form 26AS check

      4) You can file your return and show all the income (salary & Interest) and claim all the TDS deducted (by employer & bank). Any excess TDS deducted, you can claim refund.
      If you file return online, normally the refunds are processed faster.

  84. dear sir,
    I have got INR. 1000000 dory from my uncle. Now I want to invest in FD on the name of my wife, she has no other income source. I am under TDS in my regular job salary, so kindly give an advice to how can I tax free on INR 1000000



    1. Hi,

      1) From whom have you received the money? What is the exact blood relation?
      2) Whether the money given to you or your wife?
      3) How the money was given – cash or bank transfer? If cash, in whose account money was deposited ?

      As per current tax laws, if an individual receives cash or non-cash gifts from persons other than blood relatives* in excess of Rs 50,000 in a year, the whole of such gift received will be treated as the individual’s income and must be included under ‘Income from other sources’. However, money received as wedding gift are not taxable.

      Any Interest on the FD will be taxable and added to the person’s income.

  85. Hello Sir,

    I have a question in regards to Fixed deposits. Me and my husband are joint holders of FD’s where some FD’s had his name first and me as a joint holder. He is deceased as of January 2015 and therefore on our quarterly interest that was deposited in the savings account, there was TDS deducted. I had personally given an application to the bank to notify them of the death and to let them know that I will be the sole owner of the FD’s.

    Is there a way to claim that TDS back and what should I do at this point so I avoid further TDS deductions?

    Please help!!

    Thank you,

    1. You can file the return for your deceased husband and showing the FD interest and claim the TDS refund.

      Going forward, once the name on FD is changed by bank, both Interest & TDS should be against your name only.

  86. Hi Vivek,
    Need your guidance….I am an NRI but i have FD in my Saving account which is non nri & i have 2 FD , Bank has asked me to fill form no 15g for saving on 10% tax as my interest in above INR 10,000.

    Now as i do not file my returns as i am an nri , how do i go about it , have I to fill form no15g & if yes how can i fill it can you please advice….Thank you.

    1. yes you need to file form 15g if the interest is more that Rs 10000 and you want TDS not to be deducted.

      The form 15G link is provided in the post above. Just enter the basic details & sign and send it to the bank.

  87. Vivek,

    I have two FD’s in different banks where they are deducting tds for interest. i dont have any other income. so please tell me i have to submit FORM15G in both the banks or any one of the bank enaugh.

  88. Hello Mr. Vivek,
    I have a doubt.
    I am an NRI having some FDs in NRE account. Bank says my FDs are tax free. My confusion is; when my FDs matures do i have to provide any pan details to bank??? or i can just go to branch and come out with my money with interest?
    Please answer.


    1. NRE FD is tax free and you donot need to provide PAN.
      Normally at maturity, the amount with interest will be credited to your NRE Saving Account.

  89. hello sir my Query is:
    My grose Salary is 300000
    and i am earning more than 11000 intrest through Bank Deposit
    So my Grose is 311000
    and in this grose salary 25000 goes in Section 80CCD,
    And i am having 125000 relefe in Section 80U
    Because after Takeing out 25000 Stendered Diduction and 25000 of Section 80CCD
    my taxable income is 36000 Witch can be wave off by section 80U In witch i get relefe of 125000

    So my Question is that Should i give Form 15G in Bank To Avoide TDS on Interest Amount or Shouldn’t Give Form 15G just Take Refund of tds witch bank will diduct by showing Section 80U in ITR Filing?

    Reply Please

    1. You can submit Form 15G to the bank so that TDS is not deducted.

      In case the FOrm 15G is rejected and bank deduct TDS, you can then file the return and claim the refund.

  90. Hello sir..

    I want fixed deposit 300000+300000+300000+100000= Total 10 Lak (one bank )
    Can i submit 15G and get intrest without TDS ?

  91. Hi Vivek,

    I found this forum is very useful and interactive. Would you please help me answer the below two queries?

    I am worked for IBM for 4 Years and now I have submitted my Form 19 and 10C for PF withdrawal. However, IBM Payroll team is asking me to submit Form 15G, as far as I read Form 15G it’s all about additional investments which I do not have any. Do I still need to fill in the form 15G?

    Also I read one of the articles where it has mentioned that there won’t be a TDS “If the PF accumulation balance is more than 30000”. As far as I see in my PF accumulation balance is more than 30000 (as per EPF statement pulled from UAN Site). Can I expect there won’t be any Tax on my Withdrawal? Please advise.

  92. My gross salary = 327000
    Deduction 80c =140000
    After deduction income =187000
    CBI bank fd interest = 13600
    Am I eligible to submit 15 g since my opinion total income after deduction including interest =187000+13600=200600<250000
    Or I am not eligible to submit 15g and bank deduct TDs on interest 13600 =1360,in return can I claim refund 1360 .
    Please reply with explanation.
    I am grateful to your valuable suggestions.

  93. Hi Sir,
    My only source of income is from fixed deposits monthly interest.There is no other income.I earn a total of Rs.22208/-pm as interest.Just as last yr this yr i have also submitted form 15G at various branches of different banks.TDS is not being deducted from interest.From this interest income i invest in ppf,elss,and also 1 of the fd’s is tax saving fd.I was not aware of the conditions for submitting 15G,since every yr the total taxable income falls below the exempted limit(bank interest-deductions).What should i do now.What steps should i take in this regard.plz advice.

    1. Hi Rudranil, As your FD interest income is more than basic tax slab, Form 15G is not accepted. You can always file return, show income, claim TDS. If there is any excess tax, then amount will be refunded.

  94. I have query regarding ITR,
    I have only income from interest on FDs.Last year TDS got deducted on interest I have got from FDs, and I filled ITR-1 and got refund. This year I have submitted form 15 G and no TDS deducted. Is it necessary to file ITR this year also.

  95. my monthly income is 25000 from bank interest.(MIS).otherwise have no income.i submited 15G and return A.Y 2015-16.but TDS deducted from my account every month.how to it will stop.and get refund?

    1. As the interest is more than basic tax slab, Form 15G is not allowed. Bank will deduct TDS. You will need to file returns and claim the refund if any.

  96. Hello Sir,My Uncle’s gross salary is 1.8 lakh Rs & he has 45 lakh sum in FD So Sir my question is…

    Do My Uncle have to Fill form 15g for all FD? or he simply allow bank to deduct TDS from interest earned on FDs

  97. I have made an FD of 1 Lakh in October 2014 and now its september 2015, will the Bank entertain the 15G form now? Or i have to file ITR

    1. Hi, You can submit Form 15G if you satisfy following condition:

      1) The final tax on estimated total income is NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab (Rs 2.5 lakhs)

  98. Hello VIVEK

    I am an NRI holding foreign citizenship, I am applying for PAN card, but have to show gross annual income, is this income verifiable?, why do I need to show how much I make outside of India, on my PAN card application form?,
    Can I reduce the amount and show , will it have any ocnsequences?.
    Please let me know.


    1. Hi Toshi, it is always advisable to provide correct details. As part of PAN application, they only require proof of ID and address. They donot need proof od income.

  99. 1) I am in 30% income slab if I transfer funds from my account to my son (Who is 20 yrs old) and make an FD for interest gained should I pay the tax
    2) I made Fd ‘s of around 30L on my wife kindly suggest ways to avoid to include the interest gained into my income, kindly give details of making gift deeds etc

    1. Hi Chaitanya,

      1) As your son is now major, he can make FD from your gifted money. the tax liability will be on him.

      2) If you transfer money to your wife without any consideration, then the FD income will be clubbed to you. Many people show it as loan given to her against her jewellery etc.

    1. Hi Ajay,

      Whether total FD is 90000 or 180000 ? Because if it is 90000, then the interst should be less than Rs 10000 and no TDS should be deducted.

  100. Hello sir
    I have fd of 20 lakhs with 15 G. I am not a tax payer. Now i want to start SIP in mutual funds 3k to 5k per month. Mutual funds are taxable. Can i invest in mfs as condition of 15G is not to be a tax payer or should i not give 15 G for next FY.

    1. Hi Virender, You can submit Form 15G if you satisfy following condition:

      1) The final tax on estimated total income is NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab (Rs 2.5 lakhs)

      It has nothing to do with your MF investment.

  101. Hi, vivek ji
    I am working out of india. I am sending 150000 inr./month In my Nre account and i have rs 2500000 fd in other bank in my saving account. So can i submit the 15 G form to save tds.

    1. You can submit Form 15G, if following conditions are fulfilled (by Resident, non-senior citizen investor)

      1) The final tax on estimated total income is NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab (Rs 2.5 lakhs)

      NRE FD Interest is tax free, so need not to be included in income.

  102. Hi Vivek
    First of all thanks for opening such a wonderful site to solve everybody’s query for free. God bless you !

    I am 40 years of age and currently unemployed for the last 4 years. I have deposited FD of 32 00 000 at 7.85% annual interest in HDFC. Do I need to submit form 15G . If yes, please advice me in detail how to fill form 15g to avoid TDS. Do i need to prove that I am unemployed. Does the form 15G need to be signed by some authority before submitting to bank. I do have PAN. Thanking in anticipation for an early reply.

    1. Hi Harish,

      Bank will deduct TDS if the interest is more than Rs 10000. If your interest income is more than basic tax slab (Rs 250000), then you cannot submit Form 15G.

      If the interest is less than that and your total estimated tax is NIL, then you can submit Form 15G. You just need to submit it to bank directly.

  103. Hi Vivek,
    I gifted some money to my wife and she put the money in FD. I know that interest earned should be added to my income. Should she add the interest income (exemptions) under any head in her ITR. How will the IT department know that interest earned by her is clubbed with my income ?.

    1. Hi Madhu,
      It is always a challenge. As the TDS is deducted in wife’s name, she need to file the return and claimt he TDS. But she need to show the Interest Income as Zero as it is added to husband income.

  104. Vivek Sir,

    My mother is receiving pension of Rs.250000-00 per year. She is senior citizen. She also receiving 120000 FD interest for a year. Whether she is entitled for submit 15 H form for non deduction of TDS on FD?

    She has to pay income tax or not? if so, How much amount has to be invested , deduction u/sec.80 C to avoid income Tax.

    1. Hi Raghu,

      What pension is this? is it her pension? Who was the employer?
      Is it pension for another family member?

      She can file 15H, if based on your estimation, no tax is payable. Are you making any investments and claiming any deduction u/s 80C or any other deduction. If not, her total income is 370000 and comes under tax bracket.

  105. Hi Mr Vivek,
    I have one question on TDS and TAX

    I planed to make RS 4 Crore FD as monthly interest payment in bank. But the question is after paying 10% TDS, do i have to pay tax on interest earned from bank interest ???

    thanks in advance

    1. Hi Raj,

      1) Interest earned on FD will attract TDS @10%. Note that you may need to pay higher tax, if you are in higher tax slab as the FD interest needs to be added in your total income.
      2) When this interest is deposited in bank, and any Saving Bank Interest is earned. This is also taxable as you generate more income. However, you can claim deduction upto Rs 10000 u/s 80TTA for Saving Bank Interest.

  106. hello sir

    i fixed deposit 60000 on date 16/08/2014 maturity date 22/02/2016 maturity value 68824 and 100000 deposit date 03/01/2015 maturity date july 2016 maturity value 114167, have you need for filling 15g form

    1. Hi Ranjit,

      If the interest is one year is more that Rs 10000, then the bank will deduct TDS. You can submit Form 15G, if following conditions are fulfilled (by Resident, non-senior citizen investor)

      1) The final tax on estimated total income is NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab (Rs 2.5 lakhs)

  107. Hello sir
    I hope you are doing well. I’m quite new to the taxation stuff. I have a students account in SBI. I earn some part time income that comes from freelancer websites from abroad. From that income,I have made fixed deposit of worth ₹3 lac. Do I still need to submit the 15g form in order to avoid TDS deduction?
    Thank you.

    1. Hi Vivek, If your FD interest is more than Rs 10000, then TDS will be deducted. Make sure you have PAN account and it is given to Bank.

      Also, You can submit Form 15G to avoid TDS deduction.

  108. Hi Sir,

    My query is as below:
    My mother, aged 53, receiving family pension as a survivor of my dad. Her annual pension is 2,76,000/-. Other than that she has 4 FDs in bank and total interest of those FDs is 45,000/-. She never worked ever and is a homemaker. So other than pension she has no other source if income.
    So she can fill 15G form in order to save TDS on the FDs at Bank’s side.

    Pooja Varshney

  109. Hello Vivek ji,

    My mother [age 57 yrs] has income from family pension which falls in 20% tax bracket.

    We wish to make 20 lacs FD with bank for 3 to 5 yrs, so the total interest would be TDS deductible by bank.

    So we will not be eligible for Form 15G ?

    Can you provide some more suggestions for tax saving, TDS saving on FD interest?

    Rohan S.

    1. Hi Rohan,

      How much is total family pension? and how much will be interest income?

      She can claim 80C benefit by investing in Tax Saver FD or other instruments upto Rs 1.50 lakhs.

  110. my total income has never exceeded basic exemption limit, bank now wants to deduct my TDS
    what should i do? i dont have PAN, can i file 15G?

    1. Hi Nitin, Bank will deduct TDS if the interest is more than Rs 10000. You need to have the PAN for submitting the Form 15G.

      As per section 206AA​​, a declaration in Form No. 15G or Form No. 15H is not a valid declaration, if it does not contain PAN of the person making the declaration. If the declaration is without the PAN, then tax is to be deducted at 20%.

  111. My father was died on 13.5.15.he has been invested a FD with jointly eoth my mom on 14 april 2013 an ammount Rs100000.and it it matured on 14 june 2020 with 9.84% interested.now we dont submit 15G form due to 1st name holder was die.now the maneger told me to pre mature the fd,otherwise tds is diducted on the maturity time.but now bank intereste rate 7.3.so what process make me profitable and why??how much deduct due to tds….?? Pl. Tell me urgently…thank you….

    1. Hi Pritam, The TDS is deducted @10% if the interest per year is more than Rs 10000.

      Even if the TDS is deducted, youc an file return and claim refund if your mother income is below taxable limit. If you file Income tax return online, you will get refund in few months directly in your bank account.

  112. Dear Sir,

    My grandfather age is 80+ and he has no income at all, he sold his property and want to fix the amount of rs 1500000.00 as FD. Also he has no pan number.please help about this matter.

  113. Sir,I have depend only intrest income of rs.500000 and I invest sbi elite insurance plan of 150000 every year and I also return file. So plz tell me can I fill 15g or not. For bank no tds.or only it return refund.

    1. Hi Faizal, As the interest is more than Rs 10000, bank will deduct TDS. You can file IT returns and claim the refund for extra tax paid.

  114. Sir my annual income is rs. 5 lakh and my father pension income is rs 2 lakh and I want to make an fdr of rs 10 lakh with my father and he would be the 1St holder of that account

    1) total interest income will be calculated in whose account ?
    2)as I want to save the tax on my saving and also want to get senior citizens benefit I.e 0.5 % extra roi.
    3) can my father submit 15 h if his income will not be taxable??
    the income tax authority will be raise any ????

    1. Hi Kunal,
      1) Interest income will be under your father.
      2) What is the age of your father. If his total income is below taxable limit, he can submit Form 15G/H to avoid any TDS.

      Incoem tax will not raise any queries. For safety, you can create a gift note on plain paper that you are giving gift to your father.

  115. Hi Vivek,

    I have a query. My father aged 70 years has recently passed away. He had some FD worth Rs. 20 Lakh where my mother was second account holder. In all the FDs the interest were to be paid at maturity. My father used to submit form 15H every year as his total income was not more than taxable income.
    My mother is not yet sr citizen.

    Now I have the following questions:

    1. As my father has expired but has submitted form 15H for current year no tax would be deducted form his FDS. But from FY 2016 we can not submit any Form 15H for his FDs as he is no more. In this situation if we break the FDs in FY 2016 and transfer money to my mother’s account, will bank deduct the TDS and at what rate ?

    2. In case bank deduct TDS for FY 2016 from the FD then can we claim tax refund ? Also if the TDS is deducted then will the TDS will be only on interest accrued on FY 2016 or from the beginning of the FD start date.

    3.My mom has around 10 lakh worth FD where she is the first account holder and she also submits form 15 G every year. So if we break the FDs of my father and transfer the money to my mom’s account will she be liable to pay tax?

    1. Hi Deb, Sorry to hear about your father. Re your queries, please see below:

      1. Bank will only deduct TDS in FY2016 if the interest for FY 2016 is more than Rs 10000. They will deduct TDS @10% for interest related to FY 2016.
      2. TDS will be deducted only on Interest accrued in FY2016. You can file return and claim refund.
      3. If you mom’s total income is more than Rs 2.50 lakhs in FY 2016 (her FD interest + new FD interest) , then Form 15G will not be approved. Bank will deduct TDS @10% for FD interest in 2016.
      However, she can file the return and claim the refund for appropriate amount.

  116. Hi Vivek,

    I am currently working in Dubai & planning to settle in India after 2 years. After that, I just want to put my hard earned money in bank FD. Now my query is, if I keep 1crore in bank FD, how much tax I need to pay and I don’t have any other source of income except this income generated from FD. Can I fill 15G form to avoid tax?

    Please guide me.

  117. Hi vivek, my taxable income is 8 lakhs. I have fixed deposits of 5 lakhs. Do I need to submit 15g or not needed. If bank deduct 20% of interest earned on FD. Can I claim that 20% money during tax file. Whether govt will give that money back?

    1. You cannot submit Form 15G as your total income is above taxable limit.

      Note that Bank will deduct TDS @10% if you have provided the PAN in that account. When you are filing the return, you need to show the FD income under Income from other sources and you can also claim the tax under “TDS deduction” section.

      You may have to pay additional tax as you will be in slab of 20%, but TDS by bank is only 10%.

  118. 1) Can minor file form 15G? if, has no PAN but his guardian has PAN……………
    2) In case of Guardian has taxable income, whether Minor can file Form 15G??? If only guardian has a PAN but Minor Do not have PAN?????

    1. 1) The interest earned on FD owned by minor is taxable in hands of his guardian. So the guardian can provide his PAN and Form 15G (if eligible).

      How much total FD Interest is? In whose name is the FD ?

  119. Hi Vivek,
    1. I purchased a 5 year Tax Saver FD for Rs 1 lakh during 2014 from my pension income in order to be eligible for relief under sec 80C. The maturity amount in 2019 is shown as Rs 159240/-
    (a) Is the interest earned on this Tax Saver FD, taxable on maturity (EET)?
    (b) If yes, is the interest earned on this tax saver FD, also subject to TDS each year?

    2. I purchased a ULIP at a Rs 1 lakh annual premium for 5 yrs during 2012. The ULIP will mature during 2017.
    (a) Can the bank deduct TDS annually?
    (b) Will the bank deduct TDS on maturity during 2017?
    (c) On maturity, is the total maturity amount shown as income, or is only the interest gained shown as income?
    (d) If this amount is shown in the 26AS, and as this amount was locked in for more than 3 years, can it be got refunded? If so, under what IT sec – 10 10(d)?

    1. 1) The Interest on this Tax saver FD is taxable. Each year, the accrued interest should be added to your income. Bank will deduct TDS each year on the accrued interest if the interest in each year is more than Rs 10000.

      2) There is no TDS on ULIP. Which ULIP plan do you have ?

  120. Hello Sir,
    I am working with co-operative Bank.
    My question is whether co-operative bank can accept 15G from Trsut?

  121. Hi,

    I am a professional and earn merely around 1 Lac in a year….I have a FD from which I earn Rs.5250/- p.m….Am I eligible to submit 15G form ?

    My wife earns around 4 Lacs p.a, and pays all her taxes ? Still am I eligible for TDS deductions ? Please reply

    1. If you earn only 1 lakh, then you can submit Form 15G to the bank and the bank will not deduct TDS on FD interest.

  122. Dear Mr. Vivek Jain,
    In the recent past I, had gone through your article and various queries and found information vary useful.Now I, wish to ask you regarding filing of form 15G and its validity when person whose income from Bnk’s FD interest is below the taxable limit (at present it is 2.5 lacs) but his/her income gets club with either husband or wife whose income is taxable and entire tax excluding advance tax is paid by end of year by adding above interest income.
    with regards and thanks

    1. Hi, Please explain your query.
      Even if the Form 15H was submitted by the original FD holder and TDS not deducted. But the amount is clubbed to husband/wife whose income is taxable, then the FD income is added and tax needs to be paid accordingly.

  123. Hello Mr. Jain,
    I work in private company and my salary account is in HDFC. I pay tax every year.
    I have an savings account in SBI and I have created FD this year of Rs.1,00,000. Do I need to fill the 15G form to avoid TDS? As I have already paid tax for 2015-2016 financial year.


    1. Hi Pushpalata, Please note that FD Interest is also taxable. When you employer deduct Tax, that is related for your salary Income. Your other income like FD interest is also taxable.
      Bank will deduct TDS (@10%) if the interest is more than Rs 10000. You need to show the FD interest in your tax return and pay additional tax if you are in higher tax slab.

  124. Dear Vivek,
    I do have FDs having cumulative interest amounting to >10K per year. My Net income is also taxable after claiming deductions. Still I wish to file 15G; and whatever tax due for the interest income I wish to pay on my own from my side (as the TDS on taxable salary shall be deducted by the employer).
    Is it possible? Can I file 15G, in spite of having net-income taxable? And if I do so, shall there be any scrutiny from IT-department?

    1. Hi Amit, If you have taxable income above the tax slab, then you are not eligible to submit form 15G.

      The bank will deduct TDS @10% and your employer will deduct TDS on your salary. At the time of filing return, you can claim both income in your tax returns and also claim both TDS amount.

      You can then pay balance tax or claim refund.

      1. Thanks vivek for the reply. Why I wished to do it, the deducted TDS does not get reinvested in the FD, that is why I wished to get the entire interest reinvested and I pay the tax on interest separately so as to achieve the desired maturity value of the FDs.
        After reading few comments above I got confused between the two – Taxable total income and Taxable total interest.
        I understood from few comments that if the total interest from FD/RD is above 2.5L than one can not submit form 15G/H.
        Please clarify – My net salary income is above 2.5L and my total interest income is about 12-13K; In this specific scenario; can I submit 15G?

        1. Hi Amit, if you again read the post above, the conditions for Form 15G is:

          Form 15G can be submitted by Resident, non-senior citizen investor if following conditions are fulfilled:
          1) The final tax on his estimated total income should be NIL ; and
          2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab

          So if your income is above 2.5 lakhs and interest is Rs 12000, then you donot meet the condition 1 above.

          1. Thank you very much Vivek for the reconfirmation. Thanks for the response with the “4G speed”.

  125. I have a proprietory Firm in the name of M/s. XYZ. I have submitted PAN CARD No. of myself (Individual PAN ABCPE1234F) to the Bank for the Firm. Now I have Fixed Deposit with the Bank in the name of the Firm.
    Can I furnish Form 15G to avoid TDS deduction in the Fixed Deposit.

  126. My present annual income 7lakhs . taxable income 5.5lakhs. Family expenditure 4 lakhs. Saving in 5 years 5 lakhs. Got a FD for 1 year of 5 lakhs. Interest payable by bank after 1 year 50k. Will summiting form 15g help in tax saving. Any option to avoid tax.

    1. Hi Rajesh, As your total income is above taxable limit and you are in tax bracket, you are not eligible to file Form 15G. the bank will deduct the TDS on FD interest.

      You need to add the Interest under Income from other sources when filing tax returns and also claim the TDS amount in relevant section.

  127. Hi Vivek

    I have recently starting earning and my target CTC is 3.15 l.p.a and I have a FD of 6lacs. Though its been only been 8 months since I started working, can I fill in 15G form to avoid TDS?

    1. Hi Farah, if your taxable income is less than Rs 2.5 lakhs, then you can submit Form 15G. From CTC, I cannot calculate the taxable income.

  128. Hi Vivek,
    Am already under 20% tax slab with my Salary income. I have FD of 8 Lakhs, and TDS is there on earned interest.
    Can i transfer the 8 Lakhs to my wife account to do FD to avoid TDS as she doesn’t have any other source of income.


    1. Hi Naveen, If you transfer amount without any proper rationale, then the clubbing provisions will apply. and any interest earned on that FD will be clubbed in your income.
      You can consider giving her loan against jewellery etc with proper documentation etc.

  129. Dear Vivek,
    I am working outside India on Temporary work Visa . Since May 2014 I am not on India payroll so have not earned any money in India. Now I want to withdraw my PF. My previous Indian employer is requiring form 15G.

    Please suggest what should I do.

    Shikhar Jain

  130. What about people who have no income?

    I’m a student, about to go study in the USA. I have four years’ fees/expenses worth of money in my bank account. I want to pay the first year’s fees to the university, then leave the rest as a fixed deposit for a year.

    Is the interest still taxable, when I am BELOW the 2.5lakh income slab?

    1. Hi Nikhil, If your Total income is below taxable limit, you can submit Form 15G so that bank does not deduct TDS on the FD Interest.

  131. Dear Sir,

    I was received letter from IT for filling ITR on 2013-2014, saying CIB 403 Time Deposit exceeding Rs. 2,00,000/- with a Banking Company, I don’t have any income, I was in abroad during that period I don’t have any transaction, in this case what can i do.

  132. if i have no PAN card and bank is demanding PAN card if i could not submit PAN bank will deduct TDS @ 20 % what should i do. ?

  133. Dear Mr.Vivek, My husband is unemployed and getting no income. But he is paying for his LIC (around Rs.50,000) and having deposits of around Rs.6 lakhs. He has given Form 15 G to the bank holding deposits. Still he has to file return showing his income from FDs. Traces showing around Rs.90,000/- as his interest earned for AY 2015-16.

    His income is NIL for the last three years and has not filed any IT return. Whether it is mandatory to file NIL return or not.

    1. Hi Mekala, If his total income is below taxable slab, there is no need to file return. But it is always better to file returns.
      If he has filed returns ealrier, and then stopped, he may receive compliance notice for those years regarding non-filing.

      It is also required, if you are applying for any home loan, personal loan, credit card etc in future.

  134. sir my query is -my total salaried income is 8 .5 lakh per annum.i have a fixed deposit at sbi.i have not submitted 15g ,as i heard that i am not eligible to submit 15g form.previous year i have deposited 2.77 lakh fixed deposit with the rate 8.5 %.this july month it matured i get only 2.95 lakh ,though its matured money is 3.05lakh.near about 10,000 thousand tds hasbeen deducted from this fd account.why sir…..i filled it return every year.but not mention this fd account.there are any way to refund tds ‘s few amount.

    1. TDs will be deducted @10% if the FD Interest in 1 year is more than Rs 10000. If your PAN is not given to Bank, then the TDS is deducted @20%.

      In which month you made the FD, when is maturity and the interest rate?

  135. Sir I have submitted a FD of 46 days period of amount 25,000 through HDFC Bank App and my maturity amount does not include TDS. Should I submit 15G/H at the brach? Without going to branch how I submit 15G/H? And what is difference between 15G and 15H?

    1. Hi Wasim, If you donot have any other FD, then you need not worry.

      TDS is deducted only if the total interest in 1 year is more than Rs 10000. But in your case, it will be much lesser.

  136. Sir,
    I had opened a FD account with corporation bank in name of minor in 2011for R’s.10 lacs for 5 years giving my pan no. Later in 2014 I gave minor’s pan no. to bank. Still they have deducted 20% TDS saying system accepts only 1 type of pan no. and for 2011, 2012 and 2013, they have cut 20% TDs. No TDs has been cut in 2014 as I had given form 15G. Please advise as the amount cut is R’s.80,000/- each from 2 minor daughters account.

    1. Hi Anita,

      Please check with them in which year all the TDS was deducted? Whether all TDS deducted in current year or previous years. Even in 2011, 2012,2013, yur PAN was provided to them for TDS deduction.

        1. Hi Jatin, She can submit Form 15H if the final estimated tax is NIL. As the income above 3 lakh is taxable, then she should be investing in 80C or other tax saving instrument to make the tax NIL.

  137. I am 35 year old. I have an amount of 50L which is currently lying in a FD in HDFC Bank, which is giving me 7.75% return. Since I am in 30% tax bracket already, my actual return on that FD comes out to be 5% or so.

    Since my wife is a housewife, I am planning to create a Bank Account in BANDHAN bank in her name, and operate it myself. They are offering 8.25% interest on FD.

    1. Could I request you to advice me if that is a wise option?
    2. If not, could you please suggest a simple alternative, which doesn’t require regular monitoring? I do not have a high financial literacy. Someone suggested me to invest in Birla Sun Life Debt Fund and just forget it.


    1. Hi Rahul,

      1) Many people do open FD in wife’s name to avoid taxes. However, as per rules, such interest needs to be clubbed in husband’s return. If the amount is large, she may get notice to file returns etc. But it all depends if the case is picked or not.

      The option is – you give loan to your wife against some jewellery etc. She can then create FD and earn interest. If Form 15G is filed and accepted, then no TDS will be deducted. Just in case TDS is deducted, she can file return and claim refund.

      2) If you want risk free return, then you can consider investment in Arbitrage funds (there is no tax if you are redeeming after 12 months). The returns are similar to FD rates.


      3) Debt funds have risk if the interest rate goes up or down. If the interest rate goes up, then the retuns will be low. If the interest rate goes down, the the returns will be higher.

  138. Or can I open a FD in my wife’s name (approx 30 Lakhs), so that the Interest generated is upto 2.5 Lakh, and submit Form 15g to avoid TDS?

  139. Dear Vivek Sab,
    First very thanks for all the useful information.I am getting my gross salary 450000.00,My wife is housewife her annual income is nil.We have joint saving bank account in Canara Bank (Self & my wife name’s).Recently income from land sale for Rs.900000.00 land in the name of Joydev .Which amount transferd in our joint account .Now, I Invest FD on the name of my wife for Rs.900000.00,She has no other income sorce.Submitted form 15G to Canara bank declaration by my wife.

    Q.1. Bank deduct TDS if interest on my wife’s FD is above Rs.10000.00 ?
    Q.2. Any complince notice from Income tax department ?

    1. Hi Joydev,

      1) As your wife has submitted Form 15G, bank should not deduct TDS even if the FD Interest is more than RS 10000

      2) Please file the return for yourself & your wife otherwise she may get compliance notice, because of large transaction made.

  140. Sir,

    Suppose my total income is taxable, but if I am sure that I can save upto 1.5 lakh nder 80c such that the tax payable is nil, can I submit 15G


    1. Hi Rahul,

      You can submit Form 15G, if following conditions are fulfilled (by Resident, non-senior citizen investor)

      1) The final tax on his estimated total income should be NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab (Rs 2.5 lakhs)

  141. Dear Sir,
    I had a tax saving plan of 1 Lakh (FD for 5 years) and the amount will be matured on 26 dec 2016. It is subjectedd to TDS deduction as my earning from this FD is 57000/= . can you please suggest me a way to avoid TDS deduction , can i submit 15G as I am not taxable in this 2016 year as I am not working.

  142. I am a student and invested Rs.1 Lac for 5 Yrs in MIS plan in Nidhi Company and total interest accrued around Rs.9000/- per year, should i submit for 15G /

    1. Hi Samsom, Nidhi Company is one of the categories for NBFC companies. TDS is applicable if the total interest is more than Rs 10000. So if your interest amount is less than that, then no TDS is applicable and no need to submit Form 15G.

  143. I had made an FD in my daughters name and myself when she was a minor and over period of 1 one year my daughter was major. There was TDS of Rs. 3000 deducted for the year 2014-15 still when my daughter was a minor. About the TDS deduction i got to know the next financial year. subsequently when i went to the bank for renewal of my FD the bank asked me to provide my daughter’s pan card and submit 15G since she is now major, which i had done but for some reason the 15g was rejected and the banks as usual never bother to inform and now again tax is deducted. Is there any possibilities that i can get the refund of the tax deducted. My daughter is a student and obviously there is no income. Now should I file the returns my self showing other income or should i file the returns in my daughters name. Please advise

    1. Hi Hema,

      You need to file the return and claim refund. The return need to be filed by person against whose PAN the TDS is deducted.

  144. Total annual gross salary 600000
    Fd interest 19700
    deduction 80c 150000
    15 g submitted
    Now how to save tax by giving gift to wife and where is it shown on form16

    1. Hi Naveen, For 15G can only be submitted if the Estimated Tax is NIL. But in your case, it looks that there will be tax due, so you cannot submit Form 15G.

  145. Dear Sir,
    I have a query that i am not working this time, i did a FD of 50000 for 31 day which is renewed with princple amount(50000) + interest. I have no source of income. Should i fill the 15G form??
    Please tell me, im confused that what should i do?

    1. Hi Aryan, Yes you can file Form 15G as your estimated tax for the full year is NIL.

      If the bank has not deducted TDS, you may not even need to file Form 15G.

  146. sir,i am government employee. i have anual income 5.40 lac. i have agriculture income. this income can show in 15 g as tax exemption.

    1. Hi Siyaram, Do you mean – all Rs 5.4 is agriculture income?

      You can submit Form 15G, if
      1) The final tax on estimated total income should be NIL ; and
      2) The aggregate of the interest etc. received during the financial year should not exceed the basic exemption slab

  147. Sir, I am have withdraw my pf of last year (below 5yr. service but amount94000) and submitted form 15 g in APril 2017. Now due to increment I am coming taxpayer .My salary is 360000 + hra 34000 + bonus28000-2500 profession tax – 19200Conveyance allowance So net income is 405000And PF amount 94000.Total taxable income is 50000 My deductions are 100000 NSC, 24000 LIC, 16500 Health Insurance, provident fund 21600,ELSS account 10000. What should be happen as I filled form15 during pf withdrawal. Please reply waiting .

    1. Hi Nitin, Even if you have submitted he Form 15G, you can still enter the correct taxable amount when filing the income tax return. The benefit you received from submitted Form 15G is only that the Tax was not deducted at that time. It does not not mean that it is tax free.

      When you are filing the return, calculate your correct total income and pay the tax accordingly.

  148. Hi sir,
    The article is really good.i have question for year 17-18. My total salary income is 606000 and tax deduc is 10000 as i have shown 80c. Now i got a notice from tax dept. That i have 60000 from 15g intrest from fd in bank.
    1) should i submit 15g form next year as i am paying tax and also my fd intrest income is 60000?
    2) how can verify 15g details in 26as form as it seems very confusing?

  149. Hi
    my Salary income tax slab is 20%, and I got sbi interest 62k rupess and I already sumbited 15g form and not deducted tds in sbi bank.
    could you Please tell me, need pay 62k tax or not

    1. Hi Balu, If the TDS is not deducted, that does not mean you do not have to pay the tax. Is it Savings interest or FD interest. For Savings bank interest you can get deduction of Rs 10000 u/s 80TTA. If it is FD, then all the interest is taxable.

      You will need to add the interest to your total income and pay the tax accordingly.

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