Form 15G is a self-declaration you give to a bank or other payer so they don’t deduct tax at source from your interest or other qualifying income. To fill Form 15G correctly, you complete Part I with your PAN, resident status, the income covered by this specific declaration, your total estimated income for the year (which must sit below the basic exemption limit), the count and value of any earlier 15G forms you’ve filed that year, and the account numbers of every deposit you want protected, then sign it and hand it to the payer before interest is credited. The bank fills in Part II. If either your total income exceeds the exemption threshold or your tax liability for the year isn’t nil, you shouldn’t be filing the form at all.
Check Eligibility Before You Fill Anything
Form 15G is open to resident individuals under 60, Hindu Undivided Families, and certain trusts. Companies, partnership firms, and non-residents cannot use it.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C If you’re 60 or older, you file Form 15H instead, on its own terms.2PSB Alliance. FORM NO. 15H – Declaration Under Section 197A(1C)
Two independent conditions have to hold before your declaration is valid:
- The tax computed on your estimated total income for the year, after all applicable deductions and exemptions, is nil.
- Your total income does not exceed the maximum amount not chargeable to tax. For FY 2026–27, that ceiling is ₹2.5 lakh under the old regime or ₹4 lakh under the new regime.
Both must be true. Even if deductions bring your final tax to zero, you cannot file Form 15G if gross total income crosses the applicable exemption limit. Filing when you don’t qualify is a false declaration, with the consequences set out later.
The form is also useful beyond bank fixed deposits. You can submit it to the EPFO to block TDS on a provident fund withdrawal made before five years of service where the amount is ₹50,000 or more, to a company or mutual fund on dividends above ₹5,000, to an insurance company on agent commission above ₹20,000, and to a tenant on rent above ₹50,000 per month. Eligibility rules are identical in each case.
Part I, Field by Field
You can download Form 15G from the Income Tax Department’s website, your bank’s portal, or collect a physical copy at the branch. Part I is the section you complete yourself.
Personal Identification, Fields 1 to 5
Field 1 is your full legal name, written exactly as it appears on your PAN card. Any mismatch with PAN records will delay processing.
Field 2 is your Permanent Account Number, and it is non-negotiable. A blank or incorrect PAN makes the declaration automatically invalid under Section 206AA, and the deductor must then withhold TDS at 20% or the applicable rate, whichever is higher.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C Confirm your PAN is linked to Aadhaar; an inoperative PAN is treated as invalid here.
Field 3 is your status: individual, HUF, or other eligible category. Companies and firms don’t belong on this form.3federal.bank.in. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C
Field 4 is the “Previous Year,” meaning the financial year the income belongs to. For income earned between April 2026 and March 2027, write 2026–27.
Field 5 is your residential status. It has to say “Resident.”1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C
Address and Contact, Fields 6 to 14
These fields cover your residential address, email, and phone number. Use the same address that appears in your PAN records so nothing gets flagged as a mismatch.
Tax History and Income, Fields 15 to 19
Field 15 has two parts. Part (a) asks whether you have ever been assessed to income tax. Part (b), which you fill in only if you answered yes to (a), asks for the latest assessment year in which you were assessed.4Union Bank of India. INCOME-TAX RULES, 1962 – Annexure A Form 15G Many guides get this wrong and describe it as the current assessment year. It isn’t. It’s about your past assessment history.
Field 16 is the estimated income for which you are making this specific declaration. If the form covers a fixed deposit expected to earn ₹35,000 in interest this year, ₹35,000 goes here.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C
Field 17 is your estimated total income from all sources for the entire previous year, including the amount in Field 16. Salary, rent, interest from other banks, everything. This figure must not exceed the basic exemption limit that applies to you.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C
Field 18 captures any other Form 15G declarations you have already filed during the same financial year. Enter the count of earlier forms and the aggregate income covered by them.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C The point is to stop people from splitting income across multiple forms so each one looks small.
Field 19 lists the specific investments or accounts covered. Fixed deposit numbers, recurring deposit account numbers, NSS scheme references, whichever apply.1Central Bank of India. FORM NO. 15G – See Section 197A(1), 197A(1A) and Rule 29C Only deposits listed here get the TDS exemption. An unlisted deposit at the same bank will still have TDS deducted.
After all fields are complete, sign the declaration. The form carries a sworn statement that your information is correct and complete, so verify every entry before signing.
What the Deductor Fills In
Part II is not your responsibility. The bank or other payer completes it after receiving your declaration, recording their TAN, name, address, the income amount covered, and the date they accepted your form. They then assign a Unique Identification Number to your declaration, which they report to the Income Tax Department in their quarterly TDS returns. Keep the acknowledgment or the digital submission confirmation. It’s your proof the form was accepted.
When to Submit So It Actually Works
Form 15G is valid for one financial year ending March 31. You file a fresh form each year. There is no statutory deadline, but timing decides whether the form protects your first interest credit. Submit at the beginning of the financial year, ideally in the first week of April, so no TDS is deducted from the earliest credits.5ICICI Bank. Form 15G / 15H – Frequently Asked Questions A form filed in July won’t undo TDS already withheld in April.
Most banks now accept the form through their internet or mobile banking portals. You reach the tax or TDS section, fill in the fields online, and confirm with an OTP to your registered number. The bank’s system validates your PAN in real time, catching errors before submission. Branch submission of a physical form still works, but online filing creates an instant digital trail.
For an EPF withdrawal, submit the form through the EPFO’s online claim portal as part of the withdrawal request itself.
Multiple Deposits and Renewals
Deposits at different banks need a separate Form 15G for each bank. Within one bank, list every deposit account number in Field 19 of a single form. Only the accounts you list are protected.5ICICI Bank. Form 15G / 15H – Frequently Asked Questions
Watch out for renewals. When a deposit matures mid-year and you renew it or open a new one, the renewed deposit gets a new account number. Your original Form 15G, which listed the old number, no longer covers it. Submit a fresh form listing the new deposit number to keep the exemption running.5ICICI Bank. Form 15G / 15H – Frequently Asked Questions This is where most people get caught out and then wonder why TDS suddenly reappeared.
Update Field 18 on each subsequent form to reflect the number and value of earlier 15G forms you’ve already filed that year.
Mistakes That Get Forms Rejected
Banks reject Form 15G more often than most filers expect. The usual causes:
- Missing or invalid PAN, including a PAN not linked to Aadhaar and therefore treated as inoperative.
- Field 17 showing total estimated income above the basic exemption limit, which contradicts the purpose of the form.
- Wrong financial year in Field 4.
- Leaving a deposit out of Field 19, so TDS still gets deducted on that one.
- Filing after TDS has already been deducted. The form only prevents future deductions; it cannot reverse a withholding that already happened. Recovery in that case means filing a return and claiming a refund.
If a bank rejects your form, they should tell you why. Correct the error and resubmit. For forms filed through the income tax e-filing portal, you can check status online, and a rejection displays the specific reason with instructions to re-upload a corrected version.
Penalties for a False Declaration
Filing Form 15G knowing your income exceeds the exemption limit or your tax liability isn’t nil is a criminal offense under the Income Tax Act. Section 277 sets two tiers of punishment for false statements in tax declarations:
- Where the tax that would have been evaded exceeds ₹25 lakh: rigorous imprisonment for six months to seven years, plus a fine.
- In all other cases: rigorous imprisonment for three months to two years, plus a fine.6BareLaws. Section 277 – False Statement in Verification, Etc – The Income-tax Act, 1961
Beyond prosecution, the tax department can levy interest on the unpaid TDS and impose penalties for furnishing inaccurate information. The deductor who accepted the form in good faith also faces consequences during audit if the declaration turns out to be false. If your income position changes during the year and you no longer qualify, tell the bank so they can resume TDS deductions from that point on.