Form 15G and Form 15H are documents you need to submit to ensure TDS is not deducted from your income if you meet the conditions mentioned below.
- Form 15H is for senior citizens; those who are 60 years or older, while Form 15G is for everybody else.
You need a PAN before applying for these forms. Some banks allow these forms to be submitted online through the bank’s website. However, DSC is required to submit the form online.
Form 15G and Form 15H are valid for only one financial year at a time. Therefore, you have to submit these forms every year if you are eligible. Submitting them as soon as the FY begins will ensure that the banks don't deduct any TDS on your interest income.
To know more about filing Form 15G and 15H look at our article here.