Form 15G and 15H Guide 2026: When to Submit, Who Qualifies, and What Happens If You Miss
By Nitish Bharadwaj · Published Jul 21, 2026 · 6 min
Form 15G and Form 15H are self-declarations that prevent banks from deducting TDS on your fixed deposit interest. Form 15G is for individuals below 60 whose total income is below the basic exemption limit. Form 15H is for senior citizens aged 60 and above whose estimated tax liability for the year is nil. Both must be submitted at the start of every financial year, separately to each bank where you hold deposits. Submitting when you're not eligible — when your actual income crosses the taxable threshold — can attract penalty and interest under the Income Tax Act.
If your total income for the year is below the taxable limit, you have every right to stop your bank from deducting TDS on your fixed deposit interest. That's exactly what Form 15G and Form 15H are for. Filing them takes five minutes. Not filing them means waiting a full year to claim a refund at tax time — and relying on the government to process it correctly. Here's who qualifies, when to submit, and how.
When Does a Bank Deduct TDS on FD Interest?
Under Section 194A of the Income Tax Act, banks must deduct TDS if the interest credited to your account from all FDs at that bank exceeds a threshold in a financial year:
| Category | TDS Threshold (per bank, per year) | TDS Rate |
|---|---|---|
| Below 60 years | ₹50,000 | 10% (or 20% if PAN not submitted) |
| Senior Citizens (60+ years) | ₹1,00,000 | 10% (or 20% if PAN not submitted) |
Note that this threshold applies per bank — not across all banks combined. If you have FDs at SBI and HDFC each earning ₹35,000 in interest, neither bank will deduct TDS individually (both are below ₹50,000). But both interest amounts must be declared in your ITR as income, and you'll owe tax on the total if it crosses the taxable threshold.
Form 15G — For Individuals Below 60
Form 15G is a self-declaration by which you tell the bank: "My total income for this year will be below the basic exemption limit, and the tax on my estimated total income is nil. Please don't deduct TDS." Both conditions must be true:
- Your age must be below 60 years (use Form 15H if you're 60 or above)
- Your estimated total income for the year must be below the basic exemption limit — ₹4 lakh under the new tax regime for FY 2025-26 (the default regime), or ₹2.5 lakh under the old regime
- The tax on your estimated total income — including FD interest — must be zero
- The total FD interest you expect to earn from that bank must be less than the basic exemption limit (₹4 lakh for most people under the new regime for FY 2025-26); this is an additional specific condition under 15G
If you earn a salary, pension, rental income, or any other income that pushes your total above the exemption limit, you are not eligible to file Form 15G, even if the FD interest alone is small. Filing when not eligible is treated as providing false information and can attract a penalty under Section 277 of the Income Tax Act.
Form 15H — For Senior Citizens (60 and Above)
Form 15H is similar but has one key advantage — it does not have the condition that total FD interest must be below the exemption limit. The only requirement is that the tax on your estimated total income for the year is nil. This makes Form 15H easier to qualify for — a senior citizen can file it even if their total FD interest exceeds the exemption limit, as long as their total tax liability after deductions is zero.
Key Differences Between Form 15G and 15H
| Condition | Form 15G | Form 15H |
|---|---|---|
| Who can file | Individuals below 60, HUFs | Senior citizens 60 years and above |
| Income condition | Total income must be below basic exemption limit | No income cap — only tax liability must be nil |
| FD interest condition | Total FD interest must be below basic exemption | No such additional condition |
| Tax condition | Tax on estimated total income must be nil | Tax on estimated total income must be nil |
When and Where to Submit
- Submit at the start of each financial year — April is the right time; submit when opening a new FD if you're doing so mid-year
- Submit separately to each bank where you hold FDs; one form does not cover multiple banks
- Submit a separate form for each type of income source at that bank — for example, one form for FD interest and a separate submission for recurring deposit interest if applicable
- Resubmit every year — Form 15G/15H is valid only for one financial year; it does not auto-renew
How to Submit Online (Most Banks)
- Log in to your bank's net banking portal
- Look for 'Form 15G/15H' under 'Service Requests', 'Fixed Deposits', or 'Tax Services'
- Select the financial year and the FD accounts for which you're filing
- Confirm your PAN and income details as prompted
- Submit — the bank will generate an acknowledgement number; save it
Banks are required to upload the received forms to the Income Tax portal within 15 days of the quarter end. This means the IT department can see whether you filed 15G/15H, so TDS you paid despite filing can be claimed as refund when you file your ITR.
What If You Miss Filing?
If you forget to submit and TDS is deducted, all is not lost — the deducted amount appears in your Form 26AS and can be claimed as a credit when you file your ITR, reducing your tax payable or generating a refund. The downside is that the refund can take 3–6 months to arrive, and during that time the money is with the government rather than earning interest for you.
Frequently Asked Questions
What happens if I file Form 15G when I'm not eligible?
Submitting Form 15G when your income is above the taxable limit constitutes providing a false declaration under Section 197A. This can attract prosecution under Section 277 of the Income Tax Act, with penalties up to imprisonment for 7 years in egregious cases. In practice, most notices are for people who habitually file 15G despite having taxable income — the risk is real. Only file if both eligibility conditions are genuinely met.
Does Form 15G cover interest from post office savings schemes?
No. Form 15G applies to bank FDs under Section 194A. Post office schemes are not subject to TDS under Section 194A — interest from NSC, PPF, post office FDs, and savings accounts is not subject to source deduction. However, you must still declare the income in your ITR and pay tax if applicable.
I have FDs at three different banks. Do I file one Form 15G?
No — you must file separately at each bank. The threshold (₹50,000) applies per bank. If you earn ₹30,000 from each of three banks, no individual bank has crossed the threshold, so no TDS applies and no 15G is needed. If any one bank pays you over ₹50,000, file 15G at that bank specifically.
Can a senior citizen with a pension income file Form 15H?
Yes, if the total tax on their estimated income — pension plus FD interest plus all other income, minus all deductions — is nil. A senior citizen whose pension is below the exemption limit (₹4 lakh under the new regime (for all taxpayers including senior citizens); ₹5 lakh for super-senior citizens aged 80+ under the old regime) can typically file 15H without difficulty.
Related: Making the Most of Your FD Interest
- FD laddering: lock in current rates across multiple tenures How splitting across 1, 2, and 3-year FDs balances rate and liquidity — and reduces reinvestment risk.
- Small finance bank FDs: up to 8.1% with DICGC protection Higher rates than large banks, with the same ₹5 lakh deposit insurance — what to check before investing.
- SCSS vs bank FD for senior citizens: which wins after tax? Senior Citizen Savings Scheme at 8.2% compared to FD interest — tax treatment, TDS rules, and which earns more in-hand.
- FD interest certificate and Form 16A: how to download both What to do once TDS is deducted — where to find the TDS certificate and how to reconcile it against Form 26AS.