Our article What is Form 15G? What is Form 15H? talked about the form 15G or 15H which is to be submitted to request income provider for not deducting tax or TDS for prescribed income. For example, From 1 June 2015, people who are withdrawing EPF before 5 years of service are required to fill Form 15G. If an employee has rendered service for less than 5 years and has accumulated balance is more than or equal to Rs. 50000, he is required to submit form 15G or 15H along with PAN card to avoid TDS. Otherwise, TDS will be deducted at 10% (if PAN is given) and 20% if PAN is not given. This article explains how to fill Form 15G and how to fill 15H? What information has to be provided in various schedules and how to find information for filling Form 15G or 15H.
Table of Contents
How to save TDS deduction? Fill Form 15G and 15H
What is TDS on Income?
TDS or Tax Deducted at Source, is one of the modes of the collection of taxes, by which a certain percentage is deducted at the time of payments of various kind such as salary, commission, rent, interest on dividends etc and deducted amount is remitted to the Government account. This withheld amount can be adjusted against tax due. Our article TDS, Form 26AS and TRACE explains TDS in detail
What is Form 15G of Income Tax? What is Form 15H of Income tax?
Form 15G or 15H is submitted to request income provider for not deducting tax or TDS for prescribed income.
- These forms can be used only for payments in the nature of Interest of Securities, Dividend, Interest other than Interest on Securities (Bank/Company Deposits) , NSS & Interest on Units. For other types of payments, these forms cannot be used.These days for PF withdrawal one is required to fill Form 15G if one does not want the tax to be deducted.
- One can submit these forms to bank, post office, company ,EPFO etc
- These forms have to be filed in duplicate,at times 3 copies, to the payer which can be bank, post office, company . The payer or the institution takes them on record, the entire interest is to be paid to the depositor or lender without TDS
- While Form 15G is for Indian residents below 60 years of age, HUFs and trusts, Form 15H is for those above 60.
- Only resident Indian,HUF and AOP can submit form 15G / form 15H.
What are conditions to fill Form 15G of Income Tax?What are conditions to fill Form 15H of Income Tax?
Before filling the Form 15G please verify if you meet the conditions. As not everyone fill Form 15G/15H . You need a valid reason to request the bank or financial institution not to deduct TDS. As Notes in the Form 15G or 15H are shown in image below . Click on image to enlarge.
Notes in Form 15G, form 15H
Interest income may be earned from – savings bank account, fixed deposits and recurring deposits,senior citizen saving schemesAs a thumb rule, all interest income from any of these sources must be reported in your income tax return. Add it under the head Income from other sources.
The basic conditions for filing 15G are :
- The final tax on estimated total income computed as per the Income Tax Act should be nil
- The aggregate of the interest received during the financial year should not exceed the basic exemption slab of that assessment year ex: 2.5 lakh in AY 2019-20,AY 2018-19
If these criteria are met, you can submit Form 15G and the entire interest income would be credited without any tax cut. Please note that You need to meet both criteria. Even if the interest income is less than the basic exemption allowed during that financial year, but your total tax liability is not nil, you will not be eligible for filing Form 15G. The reverse is also true. Say your income is Rs 4 lakh, of which Rs 3 lakh is earned as interest from your investments such as FDs in the bank. You might invest Rs 1.5 lakh in PPF and be out of the tax net, but you are not eligible for Form 15G as though your tax liability is zero, the interest income is higher than the basic exemption. The refund route is your only recourse.
Form 15H can be only filed by individuals above 60. This form imposes only the first condition, the final tax on the investor’s estimated total income should be nil. So, if you are above 60, your taxable income for the financial year can be up to Rs 3 lakh for you to be eligible for 15H. For super senior citizens above 80 years, this limit is Rs 5 lakh. Image below shows the cases where Form 15G/15H is not allowed.
Eligibility criteria for filling form 15G
How to Fill Form 15G? How to Fill Form 15H?
Form 15G and 15H are similar.There is no difference in filling form 15H. The differences are:
- While Form 15G is for Indian residents below 60 years of age, HUFs and trusts, Form 15H is for those above 60.
- For 15G the aggregate of the interest (excluding interest earned on securities) received during the financial year should not exceed the basic exemption slab ex: 2.5 lakh in AY 2015-16,AY 2016-17. Our article Income tax slab rates from AY 1986-87 to covers the basic exemption limit and tax slabs from AY 1986-87 to current Assessment Year.
Change in Forms From 1 Oct 2015
The Income Tax Department has announced new forms and new procedure regarding Form 15G & Form 15H starting 1st October 2015. Key Changes
- Forms have been simplified. Gone are the various schedules like Schedule 1,2 etc
- Introduction of Electronic mode of filing Form 15G & 15H as an Alternate to Paper Form. No procedural rules has been prescribed as regard to filing of Form 15G. However, It seems Form 15G & 15H can be filed using Internet Banking facility or Similar facility for in case of Other institution which are making payment as provided in Section 197(1) or 197(1A) or 197(1C). –
- The person responsible for making a payment or the Deductor shall allot a UIN (Unique Identification Number) to each Form 15G and Form 15H received.
- The Deductor shall mention the particulars of these Form 15G & Form 15H received during any quarter of the financial year along with the unique identification number allotted by him in TDS Quarterly Statements, whether or not any TDS has been deducted by him.
- The Deductor is no longer required to submit physical copy of Form 15G & Form 15H to the Tax Department.
- However, these forms must be maintained by the Deductor for a period of 7 years from the end of the financial year in which these are received
How to Fill Form 15G/15H
Let’s start by Filling Form 15G, which is shown in the image below
New Form 15G since 1 Oct 2015
- Field 1, Name: write name as per your PAN.
- Field 2, PAN: write your PAN number.
- Field 3, Status: Your income tax status which can be Individual/ Hindu Undivided Family(HUF)/ AOP as applicable to you.
- Field 4, Previous Year: the year in which you will earn your income for which you want to avoid TDS. So it is the current financial year for which you are filing up the form. If you fill the form between 1 Apr 2018 to 31 Mar 2019 then you have to fill 2018-19.
The calendar year starts on January 1 and ends on December 31 but a Financial year (FY) is from April 1 to March 31. As per the Income Tax Act, income earned in a financial year (FY) is taxed in the next Financial Year. FY to which the income belongs is called the Previous year (PY) and the FY in which the income is taxed is called the Assessment year (AY). Ex: The income earned from 1st Apr 2018 to 31 Mar 2019 , during FY 2018-19 will be assessed for tax in the 2019-20 after you file tax. Here, FY 2015-16 is called Previous Year and FY 2016-17 is called Assessment Year or AY. Our article Income Tax Overview explains terms associated with Income Tax. - Field 5, Residential Status : to be entered ex: Resident Individual. As Form 15G or 15H can be filled only by Resident hence if one satisfies the condition one needs to mention Resident.For income tax purpose residential status of an assessee is classified into, Resident (ordinarily), Resident (not ordinarily),Non resident. Under the Income-tax Law, an individual will be treated as a resident in India for a year if he satisfies any of the following conditions (i.e. may satisfy any one or may satisfy both the conditions):
-
- One is in India for a period of 182 days or more in that year; or
- One is in India for a period of 60 days or more in the year and for a period of 365 days or more in 4 years immediately preceding the relevant year.
-
- Field 6,7,8,9,10,11,12, Current Address details.
- Field 13, Email Id, your email ID
- Field 14, Telephone number, Phone number both LandLine number with STD code and Mobile No. If you don’t have a Land line just fill Mobile Number.
- Field 15 (a) , Whether assessed to tax under the Income-tax Act, 1961. Yes or No, Check the appropriate Box. Mention Yes if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.
- Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return.
- Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For exam,ple if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year.
- Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made
- Field 18, Details of Form No. 15G other than this form filed during the previous year, if any, In case any declaration(s) in Form No. 15G is filed before filing this declaration during the previous year, mention the total number of such Form No. 15G filed along with the aggregate amount of income for which said declaration(s) have been filed
Total No. of Form No. 15G filed , How many Form 15G have been filled before the form 15G in this Fina ncial year or Previous Year. - Aggregate amount of income for which Form No.15G filed, Total amount of income for which Form 15G have been filled in this year.
- Field 18, Details of Form No. 15G other than this form filed during the previous year, if any, In case any declaration(s) in Form No. 15G is filed before filing this declaration during the previous year, mention the total number of such Form No. 15G filed along with the aggregate amount of income for which said declaration(s) have been filed
- Field 19. Details of income for which the declaration is filed, Mention the distinctive number of shares, account number of term deposit, recurring deposit,
National Savings Schemes, life insurance policy number, employee code, etc.- Sl. No.
- Identification number of relevant investment/account, etc.
- Nature of income
- Section under which tax is deductible
- Amount of income
- Various TDS Rates, sections,cut off rates are given below
TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents
Cutoff (Rs.)
Company / Firm / Co-operative Society / Local Authority
Individual / HUF
If No / Invalid PAN
Section – Description
Rate (%)
192A-Premature withdrawal from EPF ( wef 01.06.2015) Upto 31-05-2016 Rs. 30,000 w.e.f. 01-06-2016 Rs. 50,000 NA 10 20 193 – Interest on securities – 10 10 20 194 – Dividends 2500 10 10 20 194A – Interest other than interest on securities – Others 5000 10 10 20 194A – Banks(Time deposits) 10000 10 10 20 194A – Banks (Recurring deposit)(01.06.15) 10000 10 10 20 194A – Deposit in Co-op Banks (01.06.15) 10000 10 10 20 194D-Insurance Commission Upto 31-05-2016 Rs. 20,000
w.e.f. 01-06-2016 Rs. 15,000Up to
31-05-2016 10%From 01-06-2016 5%
Please remember that two conditions given below need to be satisfied for filling Form 15G . Details about these need to be filled in Field 22,23 and schedules.
- The final tax on estimated total income computed as per the Income Tax Act should be nil
- The aggregate of the interest received during the financial year should not exceed the basic exemption slab of that assessment year ex: 2.5 lakh in AY 2018-19,AY 2019-20
Estimated total income from sources below: The income from following sources needs to be added: Interest on securities , Interest on sum other than securities ( interest on FD etc.), Interest on mutual fund units., withdrawals of NSS. Do sum of the total income from all sources
Declaration/Verification . Fill in the details and place your signature within the given space as Signature of Declarant . Image below shows the information to be submitted for FY 2015-16 or AY 2016-17, when Form 15G/15H is submitted for non deduction of TDS between 1 Apr 2015 – 31 Mar 2016.
New Form 15G Declaration
Part II of form 15G/15H [For use by the person to whom the declaration is furnished]
Don’t fill any thing in part 2. The person whom you are furnishing declaration ( BANK, POST OFFICE ETC.) will fill this part. Don’t fill it
New Form 15G Part 2
OTHER IMPORTANT THINGS TO KNOW:
- Declaration under form 15G/ form 15H is not alternative of income tax return. No matter whether you have given declaration to bank or others for non deduction of TDS, you are required to file income tax return if required in income tax act. Do note that this is not a way to save tax on income but only a means to prevent TDS deduction on it. It saves you from the hassle of seeking a refund later.
- Attach PAN card copy with declaration:
- WHAT TO DO WHEN TDS DEDUCTED THOUGH 15G/ FORM 15H SUBMITTED: If your income payer deducts TDS from income though submission of the above forms, you can file return and claim tds refund as per your tax liability. No need to worry about it. Don’t ask him to refund TDS because he has already deposited it in government department through TDS return.
- You can download Forms 15G and Form 15H from here 15G and 15H or from Income tax India website http://www.incometaxindia.gov.in/Pages/downloads/most-used-forms.aspx
Download the Form 15G in word format and Form 15H in word format
You can download the forms 15G in word format from New Form 15G
You can download the forms 15H in word format from New Form 15H
Sample Filled Form 15G for EPF Withdrawal
Sample filled form 15G for Aarti Shukla, who is withdrawing on 7 Jun 2017 , her EPF of Rs 1,30,00 and has 10,000 other income is given below. If you withdraw between 1 Apr 2017 to 31 Mar 2018
- then Previous Year or PY( Pt 4 in the Form) is 2017-18 and Assessment AY would be 2018-19.
- For 15(a) Mention latest Assessment Year for which Income Tax Return has been submitted and processed. If you have filed return for FY 2016-17 or AY 2017-18 last date for which is 31 Jul 2017 mention AY 2017-18.
- Else mention the last Assessment Year in which your ITR was submitted. For example if You filed return for FY 2015-16 or AY 2016-17 then mention AY 2016-17.
- In declaration, part Assessment Year would be 2018-19.
Form 15G for EPF Withdrawal
Sample Filled Form 15H for Senior Citizen for Fixed Deposit
Sample filled Form 15H for Senior Citizen for Fixed Deposit
Sample Filled Form 15H for Senior Citizen for no TDS on Fixed Deposit Interest
Banks which allow submission of Form 15G & Form 15H Online
Banks like State Bank of Indiaand ICIC Bank allow for online submission of Form 15G & Form 15H.
Generating Form 15G/15H online
Please note that
• Form 15 G/H will be generated branch- wise.
• In case of Joint Accounts, form 15 G/H will be generated for the first account holder.
The YouTube Video on How to Fill Form 15G/15H online from State Bank of India Tutorials shows how to Submit Form 15H/Form 15G online. This video was published in Sep 2015 before the New Guidelines for Form 15G/15H were introduced. So it shows how to fill the old form
Related Articles:
- Video on Fixed Deposit, TDS on FD and how to show Interest income from FD in ITR
- Income From Other Sources :Saving Bank Account, Fixed Deposit,RD and ITR
- NRI : TDS,Tax and Income Tax Return
- Fixed Deposit in Name of Wife: Clubbing,Tax,TDS, ITR,Refund
- Tax on EPF Withdrawal
This article covered How to Fill Form 15G & How to Fill Form 15H. If you have filled Form 15G or Form 15H , please do share your feedback. If you can share the filled form with us then it would be great help for our readers. (Your details will be kept confidential)
I’m filling Form 15G for a Corporate bond, What to fill in “Identification number of relevant investment/account, etc.” box?
Some people say ISIN, some Say DP ID.
I’m confused, Please Help.
DP ID is wrt to the Demat account which can hold shares , ETF etc.
ISIN uniquely identifies the corporate Deposit.
That is what we think ( we are not from financial background)
Form 15G filling
16th field—- 55000 (my PF withdrawal amount)
17th field—- what should i fill (because its been almost 3 years that i’m not earning)?
should leave this blank empty?
thanks in advance
sham
Working in a Pvt firm. I am a regular contributor in EPF from 2009, so as pension contribution in my account. My question is : my pension contribution is eligible for withdrawal after leaving Job or it can not be withdrawn after completion of 10 yrs in EPF enrollment OR I can leave my pension contribution till attain the age of 60 yrs to be eligible for any pension against it. A wise and best advise would be appriciated.
Hi,
Please help with Form 15G, I have 5.8 Lac in my PF account. I have quit my previous company 28th Nov 2019 and currently in Dubai. its been 2 months hence i can claim my pf amount.
1. Should I put Non-Resident ? I am here from 8th Dec 2019 and I still have the 2019-20 assesment to be done which I already paid tax for salary I took till Nov 2019. I have made declaration for all the previous years correctly.
2. Estimated Income (16) will be 5.8 Lac and Estimated total (17) – will this be PF now claiming (5.8lac) + salary (7.8 lac) I took till Nov ? will this put more tax if I put complete amount ?
Your response is very valuable.
Thanks
Sir / Madam,
I am a housewife and I am receiving some money from my husband (govt. servant) regularly as gift in a monthly interval. Using the money, I am making short term online FD in my bank account . My query is, do I need to file form 15G for tax exemption every time I renew my FD. Please answer my query and give your comment on my investment method.
Do you have a PAN?
Your FD interest income will be clubbed with that of your husband!
Hello team, I am not working since last 2 years as I have just delivered a baby. I dont have any income source nor any FD. Should I fill in 15G form? I want to withdraw my PF. Last time my claim was rejected with this reason “1) PAN CARD DETAILS NOT FURNISHED IN CLAIMS/KYC 2) FORM 15 G / 15H, PAN CARD NOT SUBMITTED BY MEMBER” . My PF amount is 47 thousand.
As your amount is less than 50,000 no TDS should be deducted.
Form 15G/H is submitted so that TDS is not deducted.
EPFO asks for Form 15G to be on the safe side.
So if you want your EPF proposal to be accepted
please try to link PAN with UAN and submit form 15G while withdrawing!
Hii Sir,
i left job in last year nov 2018. Last pf duration was from May 2016 till Nov 2018. My last year total income was 5.5 Lacs. i have already applied for the pension settelement and got the same i.e 30,000/- ,
Now i want to make this Form 15G, please suggest me what are the necessary steps to write down.
hy this is sani ,
and I have been worked for two companies. Now i want to be withdraw both of companies PF money amount but i can not be withdraw through umang app the amount of two companies. i can withdraw only and 2nd PF amount, so let me help regarding this that how can i withdraw the PF……..
informed me also at sanisharm6@gmail.com…
You must first transfer from 1st employer old employer
Only then will you be able to withdraw both in one go
Else you will have to withdraw from old employer in offline mode only
Hi,
I want to withdrawal from EPF (work from 2003 to 2015):
1. I have an UAN number and active online login
2 I am now in abroad (2015 – till now)and not earning money from India.
3. My PF amount is around 4L INR.
4. I tried thru online portal but it demand form 15g submission.
6. How do I fill the form 15g, especially the following
Field No: 5(residential status) and Field No. 15(), 16(Estimated income) and 17(aggregated income).
your replay is much appreciated ..
Thanks in advance
As you are non-resident you are not eligible to file Form 15G.
If you have to submit Form 15G please enter your status as Non resident.
Field 15 (a) , Whether assessed to tax under the Income-tax Act, 1961. Yes or No, Check the appropriate Box. Mention Yes if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.
Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return.- When did you last file ITR?
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included : Total income in India include EPF.
As you have worked for more than 10 years you cannot withdraw Pension. So don’t fill form 10C.
You can claim pension after you turn 58 years and return to India.
He is crossed more than 5 years continuous service. Still he required to submit form 15g?
Theoretically No
But often Claims are rejected because Form 15G is not submitted
I have worked in a govt organisation for 3 years and 3 months.i left the job on 8.11.2018.now today is 17.6.19.i am not employed anywhere.i dont have any other source of income.no fix deposit nothing.eating fathers money.only 30000/- in account from the salary accumulated.i have 80000/-,30000/-,and under pension-49000/- as written in epf passbook. My salary when i leave is aprox 20000/-(gross).get 17000/-(net) in account every month when doing job.i have never file income tax as it does not come under taxable limit for the 3 yr i worked.now if i withdraw epf all the 3 amount mention in passbook.how to fill the 15g.mainly the year and income columns. How much tax i have to give.
I want to withdraw now on july 2019.have not withdrawn yet.
Hi Team,
I am not working or earning from past two years , so I want to withdraw my PF amount which turns around 3.5 lakhs
Question: What should I fill in column number 15,16 and 17.
Hi ,
Thanks for your help . i have few doubts about filling form15h for Fixed deposit in multiple banks .
Query 1: Field 16, Estimated income for which this declaration is made:
==========================================================
Suppose if a senior citizen(age:65 ) has Fixed Deposit in 3 banks say bank A, bank b ,bank c
interest from bank A for Rs 1 lakh -> 15000
interest from bank B for Rs 1 lakh -> 15000
interest from bank B for Rs 1 lakh -> 15000
then the person should submit 3 form15h in 3 banks right ? so should we mention 45000 under Field 16 in all 3 banks form 15h or should we mention 15000 under Field 16 in all 3 banks form 15h
Query 2:Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to
===============================================================================
be included .
==========
if person get pension 10,000 per month
Should what amount should we mention under filed 17
[
120000(pension amount of 1 year )+
300000 (amount deposited in 3 banks )+
15000 (interest from bank A)+
15000 (interest from bank B)+
15000 (interest from bank C)]= Rs 465000
or
[120000(pension amount)+
15000 (interest from bank A)+
15000 (interest from bank B)+
15000 (interest from bank C) ] =Rs 165000
TDS for senior citizens: For those who are 60 years or older, TDS will only be deducted if the interest income exceeds Rs.50,000 in a given financial year. Earlier, the limit was Rs.10,000 but this limit was increased to Rs.50,000 in the Union Budget 2018.
So I don’t think you have to fill Form 15G
Under 80TTB, if the gross total income of a senior citizen assessee includes income from interest on deposits, a deduction of up to Rs50,000 shall be allowed on this income
FYI
Field 16 is for income for which you are filing Form 15G. So in each of the Form for Field 16 enter 15,000
Field 17 is total income including the amount of income for which this declaration is made . Field 17 165000
Field 18 2 forms, 30,000
Hi,
Thank you for your time. You have taken so much of efforts in explaining this step by step. I have a query. Under 15G form guidance, you have mentioned that “Ex: The income earned from 1st Apr 2018 to 31 Mar 2019 , during FY 2018-19 will be assessed for tax in the 2019-20 after you file tax. Here, FY 2015-16 is called Previous Year and FY 2016-17 is called Assessment Year or AY”.
Is this correct? If FY is 2018-19, shouldn’t 2018-19 be called as Previous Year and 2019-20 as Assessment Year? I’m not sure from where FY 2015-16 and AY 2016-17 came in this context?
Thanks,
Rajesh
In form 15G please advice how many signs are to be done.
Who will sign in “Signature of the person responsible for paying the income referred to in Column 22 of Part I
I filed for pf withdrawal a couple of months ago and I received my forms back asking me to submit form 15g and PAN card copy.can some please assist me on how to fill Form 15G online to withdraw PF amount. i am not able it find it in my EPFO Account portal.
One cannot file Form 15G online.
Please raise an EPF grievance and submit the Form 15G.
You can also send the copy to your regional EPFO office.
how to fill form 15H in case of SCSS
I filed for pf withdrawal a couple of months ago and I received my forms back asking me to submit form 15g and PAN card copy.can some please assist me on how to fill Form 15G online to withdraw PF amount. i am not able it find it in my EPFO Account portal.
Please update your PAN KYC under “Manage Account” ‘ and upload form 15G, amd submitt again.
Hello,
I worked for company A from May 2015 to April 2018.
PF account shows –
Employee Share 53,195.00,
Employer Share 16,270.00
Pension 33,375.00
Now, I want to withdraw complete amount and clear the PF account, as I am now paying a Home loan.
Also, After new days of leaving the company A, I got another offer from a different company with annual ctc of 4.5Lacks.
I have not linked or transferred the previous PF account of Company A to new company.
Please, I need urgent help me for fields of form 15G, Fields I need assistance with is – 4, 15, 16, 17, 18, and 19. Previously I have not withdrawn any PF, never had it actually. And I have no other income source.
URGENT HELP PLEASE.
Sir,
My work period is 2010 to 2014 and till now I am no where employed. I had done a FD in Feb. 2014 of 5 yrs (for tax benefit), please help me to fill the form 15G. Do I need to authorize the form (for PART-II) to the bank where I have done the FD?
Regards,
Sony
Part II will be filled by the bank
Hello,
I worked in a company from July -2011 to May 2014. Employee share 47,313 employer share 23,012 pension 18,627 .In this duration my salary was 25,000- 30,000/Month. I did not work after May 2014 and currently i am not working and don’t have any source of income . I want to withdraw all of my pf amount now. I started a claim request but the request was rejected and asked me to submit two copies of 15G and PAN card copy.
What should be filled in following columns
4. ?? what is the year do I need to mention??
14. …?
15.. ?
16…?
17 ……?
18….?
Last time I remember filing tax was year 2013 -2014. I did not file tax after that year.
Please help me with claiming my epf money. It would be really great and appreciate your help.
Thanks
Your comment is awaiting moderation.
Hello ,
I worked in a company from Aug -2016 to jan 2018. Employee share 27122 employer share 8288 pension 18834 .In this duration my salary was 16500/Month. Currently i m not working and dont have any source of income . I want to withdrawl all of my pf amount now. Is it mandatory to filled up 15G for me ??
What should be filled in following columns
4 .should it be 2016-2018?
15. Coluumn ??
15 b latest assesment year 2016-2018.?
16 sum of emp , emplyr share and pension (54244)?
17 is it the same amount as 16 since i dont have any income now (54244) or should i add my annual income in 2016-2018 year to column 16 (annual income 2 lakh+54244)
19. ??
what is PART II???
How much time it takes to credit Pf amount in my Bank A/C for Offline process ??
4. It means the year you withdraw which is 2018-19
15(a). Did you file your ITR any year? Mention Yes if filed ITR for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.
15(b) Assessment year for which your last filed ITR
16. Yes sum of all the income (27122+8288+18834)=54244
17. Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included
As you don’t have any other income in the year you are withdrawing it would be 54244
19.
SNO 1
Identification number: Your Provident fund number/Member Id
Nature of income: Premature withdrawal from EPF
Section: 192A
Amount of income: 54,244
Don’t fill any thing in part 2. The person whom you are furnishing declaration ( BANK, POST OFFICE ETC.) will fill this part. Don’t fill it
My father filed nil income tax return after deductions in past years. What should he put in “whether assessed to tax” yes or no? Kindly give response as soon as possible.
Whether Assessed to Tax means whether he filed his ITR. So please say Yes and Mention the latest assessment year in which your father filed income tax return.
which for last year will be 2017-18
We have a joint Savings A/c in SBI. The first A/c holder is myself; and the 2nd holder happens to be my wife(both are senior citizens). Therefore, we have two different CIF, one for myself and the other for my wife. There are a few Fixed Deposit in my name; and one FD in the name of my wife. Now, my problem is as follows:
When I generate online 15 H, it is showing my CIF only. Accordingly, it is showing the list of deposits which are in my name only. In other words, I can submit the 15 H form for me only. But, it seems, there is no provision for online submission of 15 H form by the 2nd A/c holder. Even it is there, I could not locate it.
Can you please guide me as to how I can overcome this problem? Thanks.
CIF stands for consumer identification file.
You will get all of your accounts (savings & deposits e.g. FDs) listed in onlinesbi under oneCIF. One bank One CIF.
Netbanking allows generate form 15H only for first holder only.
You need to go to the bank and submit for your wife.
Sir I will verify about two CIF number for a joint account.
Sir, please tell me email address is also mandatory for filling 15G form or not..
Not necessary but good to put.
Hi there ,
I have got three FD :
The interest for this year 2-17-2018 is
Rs29526 + 61703+19947.64 = Rs 111176.64
So , I have filled the 15G form with
Field 16, Estimated income for which this declaration is made is Rs 111176.64
I need help to fill the field 17
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included ?
Please assist.
Field 17 includes the total income you are expecting to earn this year including this FD income.
So if you earning through salary, house property, rent you have to mention that including this FD income.
Sir I have to fill 15H form for my relative’s account….my case is…
1-He is a pensioner of state govt so he is getting a fixed pension in this account.
2- He also has one FD in the same account.
3- when I was filling form 15 H online….
A-column 15 showing estimated income for which this declaration is made was already filled with 66251.32
B- So what should i fill in column 16 in this case…..should i fill only FD amount or FD+66251.32 or total pension amount of one year+ FD+66251
16 should include his total income including the FD so it is Total pension + Interest on FD.
FD amount should not be included as it is not his income.
Interest from FD is income from other sources.
Sample Filled 15H form is shown here
Sir please tell, what to fill in column no. 14…
Whether to assessed to tax…. Yes or No
As he is retired to he is not filling tax return since 2015….
Say Yes and mention the last year when he filed ITR.
Now due to PAN/Form 26AS the Govt/Income tax department can cross check.
I would like to know about form 15G. I am not working anywhere and I will receive interest from FD – expected Rs 30000 in this financial year by March 2019. TDS is deducted over and above Rs 10000 interest amount, Am i eligible for 15G and what should I fill in column 16 & 17.
Trisha is interest from Fixed Deposit your only income?
If Yes then please submit Form 15G ASAP.
Please do check your Form 26AS to show if TDS has been deducted or not till now?
Sample filled 15H form for senior citizen for Fixed deposit is shown in the image here
You have to fill 15G form and
16 should mention just income from interest ie 30000
17 should be 0 and 0.
Send the filled form to our email id bemoneyaware@gmail.com and we will verify it
Hi
I worked in a company from jan 2014 to jan 2016. I want to withdraw PF now(2018) .Pf balance is 90000. Currently i m not working ,have savings bank account with 7000 annual interest and dont have any other source of income .
What should be filled in following columns
4 .?
16 ?
17 ?
19 ?
It would be of great help if you could answer these questions
Hi
I worked in a company from jan 2014 to jan 2016. I want to withdraw pf now 2018.epf balance is 90000 Currently i m not working, i have savings bank account with 7000 annual interest and dont have any other source of income .
What should be filled in following columns
4 . PY
16 ?
17 ?
19. ?
It would be of great help if you could answer these questions
Hi
I need your help and clarifications to fill up “Form 15G for withdrawal of my PF”, where I had worked for an organisation between July 14 till June 16 as a salaried employee . I have been filling my returns , however as was travelling within India, couldn’t file my returns in AY-17-18 . Also would like to bring in to your notice that I had never filled up 15 H earlier , as except for bank interest (between 10-15K per annum)
Part 1 , point 15(a) – Do I tick “Yes” or “No”
pt.15(b) – latest assessment year was 16-17 (should I put that?)
pt. 16 – Here under estimated income , does it mean from “Interest or dividends
etc” or my gross salary income ? Also that the PF contribution is for 2
years between July 14 to June 16 , “what does estimated income for
which declaration is made” mean ?
pt.17 – Estimated total income of PY (is is 15-16??) in which income mentioned in
column 16 to be included – can you pls. , help me understand this ?
pt. 18 – I haven’t filed any 15G earlier, so would it be “Zero / 0”
18(a &b) – Zero / 0
Pt.19 – Guess that should be Zero / 0
Also there is a section Part II
Does that need to be filled also
First please file your ITR for AY 2017-18 or FY 2016-17 before 31 Mar 2018.
Please note that EPF withdrawal before 5 years is taxable.
If you have UAN linked to Aadhaar then you can withdraw online without submitting Form 15H.
Sample Form 15H for EPF withdrawal is shown here.
Our answers to your question start with BMA.
Part 1 , point 15(a) – Do I tick “Yes” or “No” :
BMA: Put Tick Yes
pt.15(b) – latest assessment year was 16-17 (should I put that?)
BMA > Last when you filed ITR. Which in your case AY 2016-17.
pt. 16 – Here under estimated income , does it mean from “Interest or dividends
etc” or my gross salary income ? Also that the PF contribution is for 2
years between July 14 to June 16 , “what does estimated income for
which declaration is made” mean ?
BMA: Estimated income from EPF. how much amount do you estimate you will get from EPF. Check your EPF balance.
pt.17 – Estimated total income of PY (is is 15-16??) in which income mentioned in
column 16 to be included – can you pls. , help me understand this ?
BMA : Total income for this year. Logic is only if your income is below the taxable limit of the year you are withdrawing no TDS should be deducted.
But in case of EPF many regional EPFO offices are asking for 15H.
pt. 18 – I haven’t filed any 15G earlier, so would it be “Zero / 0”
18(a &b) – Zero / 0
BMA: Put 0 for 18(a) and (b)
Pt.19 – Guess that should be Zero / 0
BMA: Field 19 is Details of income for which the declaration is filed,
Identification Number: Fill in your PF number,
Nature of Income: Premature withdrawal from EPF
Section: 192A
Amount of income: Your EPF balance which you will be getting.
Hi,
Firstly, thanks for the information. You are saying 15G can be submitted if
“The final tax on estimated total income computed as per the Income Tax Act should be nil”. I have seen this in many other blogs as well.
In my case it won’t be true, and column 17 will be taxable (am assuming column 17 includes taxable salary as well), so i cant submit form15g for pf withdrawal, but people say the claim gets rejected if I don’t submit 15g.
Can you please help me on how to handle this situation?
Also, I would like to highlight that we are declaring that “*I/We further declare that the tax *on my/our estimated total income including *income/incomes referred to in column 16 *and aggregate amount of *income/incomes referred to in column 18 computed in accordance with the provisions of the Income-tax Act, 1961, for the previous year ending on ……………….. relevant to the assessment year ………………will be nil.’ which means we are stating that earnings from interest is not taxable, so I don’t know from where did the other requirement “The final tax on estimated total income computed as per the Income Tax Act should be nil” come.
Why are you not submitting the request for EPF withdrawal online?
Are you withdrawing EPF before 5 years of contribution?
Yes, many times claims have got rejected when form 15G is not submitted.
Take this declaration The final tax on estimated total income computed as per the Income Tax Act should be nil with a pinch of salt.
If your income is above the taxable limit and you withdraw EPF before 5 years of contribution then you can pay the tax on it while filing ITR.
Thanks a lot. Nice Information
Dear Sir,
I am a small service provider individual having Total turnover of 15.00 Lac a year. I file return on presumption basis of 8% of turnover. Can I request service receiver for non deduction of TDS by giving them 15G? Though I am supposed to earn profit of 1.20 lac in a year but I am filling return of 2.50 Lac as actual profit.
Dear Sir,
I need some clarification regarding PF withdrawal. I was working for an Organisation in India for close to 3 yrs (October’13 to July’16). As I am now an NRI, I would like to know whether I can submit Form 15G for TDS exemption. I was told that Form 15G is only applicable for residents of India. If that is the case how do I go about with my PF withdrawal, should I let TDS be deducted and submit for a TDS refund during filing of my IT returns. Kindly provide a solution for my case.
Thanks & Regards,
Prasad
Dear Sir,
I have around Rs. 70000 in my PF account. My employed submitted my Premature claim which was returned citing that I didnt attach form 15G. As I don’t have my PAN Card or cannot produce it due to a typical situation, Shall I re-submit the form asking EPFO to deduct 34% TDS and credit the balance into my bank account? Will it work out?
Regards,
Sujith.
My Annual Salary is 325000 after PF contribution. I do invest 150000 every year in PPF . Upto Which Amount I can do FD With Submitting 15G form To get Tax Benefit .. FD interest Rate 8% per annum ? My Age < 60
Dear Sir,
I want withdraw my epf of (14th April 2015-31 Sep 2015).
but i don’t know that how many form need to be fill.
In the epf my name is not correct .
Please help me also to fill 15 g form column no 16, 17, 18 , 19.
because i don’t know which income to be fill there .
Thanks
Hello Sir,
I was working for a firm only for 6 months and I want to withdraw my PF so I want to know what should be filled in the column 16, 17 and 19 in the form 15G in my case. I do not have any sought of FD. my Gross salary as on last working day was Rs. 151908 per annum as per my relieving letter. So, kindly help me with this query of mine.
Please check the Sample filled form 15HG for Aarti Shukla, who is withdrawing on 7 Jun 2017 , her EPF of Rs 1,30,00 and has 10,000 other income is given below. Image
Field 16, Estimated income for which this declaration is made, Your PF amount
Field 17 is the total income of this Financial Year (FY 2017-18 or AY 2017-18). are you working somewhere?
Field 19. Details of income for which the declaration is filed,
Sl. No.: 1
Identification number of relevant investment/account, etc.: PF account number
Nature of income : Premature withdrawal from EPF
Section under which tax is deductible: 192A
Amount of income : Amount of PF
If you withdraw between 1 Apr 2017 to 31 Mar 2018
then Previous Year or PY( Pt 4 in the Form) is 2017-18 and Assessment AY would be 2018-19.
For 15(a) Mention latest Assessment Year for which Income Tax Return has been submitted and processed. If you have filed return for FY 2016-17 or AY 2017-18 last date for which is 31 Jul 2017 mention AY 2017-18.
Else mention the last Assessment Year in which your ITR was submitted. For example if You filed return for FY 2015-16 or AY 2016-17 then mention AY 2016-17.
In declaration part Assessment Year would be 2018-19.
Hello sir,
Your reply was very helpful an prompt. Thank you for your help. I am currently not working anywhere and so what will be there in 17th blank and where can I find my amount of PF for 16th blank? And what should i tick for the 15th blank as I dont know whether I am assessed to tax under the Income Tax Act, 1961?
I really got into this post. I found it very interesting and loaded with unique points of interest. I like to digest material that makes me think. ThanksThank you for writing this great content.
Thanks a lot for the blog post. Really looking forward to reading more.
Hi,
I have a unique issue related to EPF withdrawal.
I am presently working overseas since March 2017. Prior to that I have been working in India with a Company A (Apr 2000 to Jun 2015) and Company B (Jul 2015 to Feb 2017).
I want to withdraw EPF from both companies. As I understand the EPF account from Company A was not transferred to Company B due to a administrative lapse and hence I do not have a consolidated EPF amount. I want to to withdraw my EPF amounts and have been told to apply separately for both corresponding companies. Is this correct?
I want to know how the Form 15G needs to be filled in my case. I do not have any income in India and possibly a small interest amount not exceeding 5-10K INR is likely earning.
Can you help with Form filling?
Also, by the Income Tax rules, what is my current status? Resident / Non Resident /other etc? Can you advise correctly?
It is simpler to withdraw from both the organizations separately.
Note: EPF Withdrawal is tax-free if total contribution in EPF is more than 5 years. So though in one organization you have worked only for 2 years as the total contribution to EPF & EPS is more than 5 years total EPF withdrawal is tax-free.
Do you have UAN number?
Please fill Form 15G for second company surely else TDS will be deducted and only way to reclaim TDS deducted is through ITR submission.
Most of employers are asking Form 15G even when total number of years is more than 5 years.
Please see the sample filled form in the article.
If you are not coming then this year then you would be Non resident this financial year FY 2017-18 or AY 2018-19
Thanks for sharing the very descriptive and knowledgeable information.
Now we can file online the form 15G and 15H
Procedure is as below-
http://taxbaniya.com/2017/05/02/how-to-upload-15g-and-15h-in-income-tax/
Sorry Sir,
In my query (ANIL on May 8, 2017 9:59 AM), Please read Col. 16 instead of col 17 in last line of my query)of form 15 G.
Thanks again. Waiting for reply.
Dear Sir,
My Estimated Income for FY 2017-18 is as follows :
Income from FD interest (all Banks FDs) : 128130
Income from Savings Interest (all Bank accounts)(Expected) : 75395
Income from Dividend – Shares of all companies (Expected) : 6531
Total Income (of all above) : 210056
In have no other income, no other investments.
What amount should I mention in col. 17 of 15G for FY 2017-18.
Thanks for your help.
Anil
Your estimated taxable income for Column 17 is : 128130 + 75395 =203525
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example, if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year.
So you have to mention FD interest of the bank to which you are submitting the form 15G. You would have to submit Form 15G to each of the bank for which your interest income is more than 15,000.
In Section 18 you have to mention 194A as interest from banks.
Lets start from beginning
How much is interest in FD of banks exceeding 10,000 yearly for FY 2017-18?
Have you submitted Form 15G in other banks?
I am a resident Indian would get US Dollars $250 as interest on my RFC Fixed deposit account in 2017 (FY 2017-18).
How to convert this US Dollars interest amount to INR for purpose of form 15 G Col 16 and/or col 19.
Best Regards
Tony
A returning Indian who has been a Non Resident for 9 years or more, shall be a Not Ordinarily Resident (NOR) for 2 successive years upon permanently returning to India.
A person is said to be “not ordinarily resident” in India in any previous year if such person is an individual who has been a non-resident in India in nine out of the 10 previous years preceding that year; or has during the seven previous years preceding that year been in India for a period of, or periods amounting in all to, 729 days or less.
Once you become R&OR, all your foreign (global) income will also be taxable in India subject to concessions and exemptions granted under the Double Taxation Avoidance Agreement, if any, between India and the country of your original residence.
RNOR are almost treated like NRIs when it comes to taxation.
As per Section 10(15)(iv)(fa) of the Income Tax Act, interest of foreign currency deposits in Indian Banks is exempt for non-residents and RNOR.
Hence, interest on FCNR deposits will continue to be exempt from tax as long as you remain RNOR. Similarly, interest earned on RFC account will be exempt from income tax as long as you are RNOR.
For ROR you have to convert into Rs and then file for 15G
Sir ,
I am about to file Form 15 G for FY 2017-18. Shall I included Dividend income and Interest income from all SAVINGS accounts in FY 2017-18. Do these income have to be included in 15 G col. 17. (Estimated income)
My question is how to correctly calculate income(s) such as above to be include(if at all) in Estimated income (Col.17) of form 15 G.
Thanks in advance for your help in this regards
Regards
Harish
You have to show your taxable income after deductions (80C,80D) etc which should be less than 2.5 lakhs(<60 years) or 3 lakhs(60-80 years)
Dividend income mostly is tax-free.
Interest income from all the saving accounts (upto 10,000 is tax free under 80TTA)
Ex:
Example: Mr Ajay is a salaried employee below 60 years of age. Basic salary is Rs 2,75,000. He has received Rs 5,000 as interest from Saving Bank Account and 5000 as dividend income. His contribution towards Employee Provident Fund is Rs 35,000.
Income from salary Rs. 2,75,000
Income from other sources
Interest on Saving Bank Account Rs 5,000
Dividend Income : 5000
Total Income 2,85,000
Exempt Income : 10,000(Interest from Saving Bank Account + Dividend Income)
Total income : 2,75,000
Deductions:
Under Section 80C :Employee Provident Fund 35,000
Total Taxable Income 2,40,000
He will enter 2,40,000 as his estimated income. For more examples you can read Examples of Income Tax Calculation
Thanks for the reply. I think I did not correctly put my question .
I was referring to EXPECTED Saving Interest income & EXPECTED Dividend income that MIGHT/MIGHT NOT be earned (is not yet earned while filing 15 G ) in FY 2017-18 to be included in estimated income . How can I estimate such incomes ?
Thanks again
Regards
Sorry Harish.
Dividend income mostly is tax-free so it won’t add to your taxable income.
Regarding Saving Interest you have to guess whether it will be less than 10,000 Rs or not in the year.
If it’s less than 10,000 a year it’s tax-free. Else amount above interest above 10,000 is added to your taxable income.
I am 68 years old. My interest income is Rs 4,42,000 and there is no other income. However I may earn something out of consultancy which is not sure. I deposit Rs 1,50,000 to my PPF account every year and I shall do the same this year also. So my taxable income may be less than Rs 3,00,000 for the FY 2017-18. Can I submit Form 15H? What I shall show as estimated income in column 15 & 16, income Rs 4.42-1.5=Rs 2.92 Lac?
Thanks for advice in advance.
Yes, Sir, you can and should fill form 15H.
You have to mention your taxable income which is below exemption i.e 2.92 lakhs.
Hi
What do I fill in column no.17 of Form 15 H
a. Total pension earned for the year +interest earned on FDs
or
b.Total pension+interest earned( -) Deduction under 80C i.e 1,50,000
Can u please clarify
Sir,
Your total taxable income which is below basic exemption limit.
So it should be Total pension+interest earned( -) Deduction under 80C.
Deduction under 80C should be to the limit you have invested.
If you have just invested 1.2 lakh under various schemes for 80C then that is the maximum that you can claim.
Thank you for your immediate response. atlast I got a clear idea regarding this. Thank you once again.
Thanks. Do let us know whether your form 15G was accepted or not?
I have a doubt, i need to fill form 15g for withdrawal of 7 years (2009-2016 )of my pf amount
Divya your doubt is justified.
Theoretically, you don’t need to fill Form 15G for EPF Withdrawal as you have completed 5 years.
But many employers/EPFO insist on it.
You can try contacting your company and then see whether they ask for form 15G.
Hello ,
I submitted the 15g form , the interest amount was 2.4 lakhs and no additional income .
Now when i checked the status online it says NA , what does it mean , will tax be deducted or not.
Which bank did you submit 15G?
Where are you checking the status online?
SBI
So let me get the query right:
-You filled Form 15G online on SBI (You are less than 60 years of age)
-You submitted the form at SBI branch
-When you check the status of Form 15G submitted it show Not Applicable.
You are checking the status using eFixedDepoist->Form 15G/15H enquiry as explained in the YouTube Video SBI INB: Checking submission status of Form 15G or 15H using OnlineSBI
Did you get acknowledgement from the bank?
yes , i got an acknowledgement from d bank . and below 60
Check in your Form 26AS. If it doesn’t show then maybe the bank has not updated its info.
Please do verify with the bank.
SBI , Yes online
Sir can you explain how to calculate Aggregate income by example. in above case i have seen 0 for 15g and 50000 for Seniot citizen 15h.
The you tube video is Unavailable.
Although got a good help.thanks.
Thanks for appreciation.
Thanks for informing that video link does not work. We have updated it.
Hi, My question is for Form 15G – Column 15(a) that says “whether assessed to tax”
Here the term ‘Whether assessed to tax” implies 1) whether you had an actual tax liability and therefore paid income tax in past six years ? OR 2) whether you filed for your IT returns as per norms in past 6 years (and were not necessarily liable for tax) ?
The language of this column confusing.
Good question. It means If your income was above the taxable limit in any of the past 6 years, and you filed Income Tax Return answer this question with ‘yes’.
Hi,
I want to withdrawal EPF (work from 2008 to 2011) it was managed by a trust:
1. How i will know the balance as
2 I am now in abroad and not earning money from India.
3. The PF amount is around 4L INR.
4. How do I withdraw my pf since the account should be inactive now.
5. is it I can submit the form online or I have to go to PF office.
6. Did I have to pay tax or what are the form I need to submit.
7. Do i need to go to the same PF office where the PF was managing or any office I can go ?
your replay is much appreciated ..
Thanks,
Hi, i used to get scholarship of Rs 28000 per month since August 2013 to July 2016.
From august 2016 i am getting Rs 12000 per month.
I have FD of Rs 5,45,000/- and Rs 30000/- in savings. Interests generated is more than Rs 10000/-.
Banks deducting 10% TDS
Can i file income tax return for previous years? Also, can i fill form 15G?
Add your yearly income from scholarship and intrest gained from FD, if it is below 2.5 lacs you may fill 15 G form.
You may file ITR of last three years anytime.
Hi,
I want to withdrawal EPF (work from 2012 to 2016)have some doubts:
1. How i will know the balance as UAN portal is not working
2. I have get the balance through SMS that is around 45k as I want to know is it included EPS and interest amount?
3. i want to fill 15th column in 15G by yes or no as i have not filled income tax return till now.
4. what should be fill column in 18th column of 15G form as i had submitted earlier in banks.
5. what amount should be fill in 16th and 17th column of 15G.
6. what should be fill in 19th column as identification number, section under and amount of income.
Please reply as soon as possible..
need to submit the form.
Thanks,
Hi,
I resigned during August 2015, currently unemployed( but earning scholarship for studies). I need to withdraw my EPF amount(12000). What is the Assessment year to be entered and PY?
Yu need to enter the emp[loyment tenure
hi
Dear Sir,
i want to fill form 15G for PF withdrawal but little confuse on some filed.
Kindly guide me so that i can correctly filled.
I leave my job before 5 year in 29 Aug 2016 and i want to withdraw my PF.
1>What should i filled in filed 3 ie assessment year(for which declaration is being made
2>filed -22-Estimated total income from sources mention below (i have no shares,no interest on securities,no interest on sums,no mutual fund,no withdrawal from NSS
3>what should i mention in field 23 if my last year total salary earned is 524590 for year 1st Apr 15 to 31st Mar 16 & total PF amt will be Rs268464/ and in pension it will be Rs46000
I was made Rs.200000.00 fd on november 2015 for 1.6 year 7.8% & I am workng a pvt job & monthly salry is 8500 per month no other source of income
Click here to know how to fill form 15g and to download sample filled pf form 15g.
http://www.hrcabin.com/sample-filled-form-15g/
Sir,
I am applying for pf withdrawl after resigning on 6th Apr’2016.while filling 15G,these are the queries.kindly help me.
4.P.Y:
15.Wheather assessed to tax under the income tax,1961..
(I filled zero income return on assessment year2015-16,what should i write on this column)
17.Estimate total income ( I have no FD & after resignation i joined govt.job on July, so other than salary no income,what amount i should write)
And what year i filled on declaration column,kinly help me.
Hello,
I have a Home loan so because of it, i dont get to pay any tax, and i dont have any other income, i am claiming my PF what amount should i fill in 16 and 17
Hi Sir,
I left job on 13th April 2016. Can you please let me know if I can submit form 15G for withdrawing my PF before completion of 5 years?
I have no securities, shares and mutual funds.
Please let me know if I can calculate my estimated total income as below and submit form 15G if it is below 250000?
Estimated total income = income from salary + PF amount + FD interest + SB account interest – 10000 deduction for SB account interest.
I am not considering 80C deductions while calculating estimated total income.
Should I include interest on FD and SB account interest also in schedule III of column 24?
Thanking you in advance,
PV
Hi Sir,
This is Nagesh, I have been working in USA on H1B for 2 years. I had opened few fixed deposits in my India Savings account through online. I noticed there was a link available for Form 15G in NetBanking, clicked on that link with curiosity to see what’s inside and accidentally submitted the form. I was completely unaware of what exactly Form 15G was by then. Later I read in some communities/forums to understand, I realized being not resident Indian I was not supposed to submit Form 15G, It looks I did a big mistake. My Fixed deposits interest is more than 10000. It was not my intent to skip the tax. Can someone please guide me how to reverse Form 15G submission and also let me know how to skip not to face any complications in future?
My employment duration is from 06/02/2015 to 31/07/2015. My employer deducts their part of contribution from employees salaries which is Rs: 1800 (employer share) + 2000 (employer share) = Rs: 3800/- total deduction towards PF from employees salaries.
My employer has registered two PF different Accounts on my name within this duration of employment i.e from Feb/2015 to July/2015. I came to know about below issues after inquiring at PF office:
1) Out of 2 accounts on my name, one has got settled already in Dec/2015 with very less amount as the duration for this 1st settled PF account was from Feb/2015 to Apr/2015 as per their records
2) The 2nd PF account duration they created again was from (May/2015 to July/2015) and the PF balance is very less in this second account too.
I’ve been chasing my employer for more than a year and never got proper response. Please let me know whom should I approach and what is that I can do to settle my claim.
Please Note: This is not just my case with this employer there are many other employees of this company who are facing issues in filing PF Claim.
Thank You!
Hi,
I left my job in july-2015., what should I update in Assessment year (for declaration is being made) and in Part II should I update my name and details, my company is insisting to do that.
Kindly update me on this.
Thanks.
Hi there colleagues, its great post regarding cultureand
fully explained, keep it up all the time.
I left my job Jan 2016, My PF amount is 3.5 lac INR and I’m withdrawing it (within 5 years). What exactly should I mention in Column 16 and 17 for 15G ? Am I even eligible to fill 15G? Should I have mention the total salary I received from April 2015 to Jan 2016 in Column 17 and Mention the Entire PF withdrawal amount in Column 16. And also the amount mentioned in column 19, is 10% of the amount mentioned in Column 16? Can someone please help me on this ASAP. Thank You.
-jeni
Hello Jeni,
As you PF amount itself is more than the basic exemption limit , technically you should not fill Form 15G.
Form 15G is to tell the EPF not to deduct TDS on EPF withdrawal.
But many companies are insisting on getting form 15G filled.
So if you have to fill Form 15G
– Field 16 is PF withdrawal amount which is 3.5 lakh
Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included
So Field 17 is the total income of this Financial Year (FY 2016-17 AY 2017-18), so it does NOT include your income from April 2015 to Jan 2016 . It would include any FD or your salary for this year(if you have rejoined ) including PF withdrawal amount.
Field 19 you again have to put full PF withdrawal amount. (It is not 10%) That’s mistake on our part and we will correct it ASAP.
Thank You for the response, I got it cleared. Really a good site.
Thanks Jeni. Please spread the word around.
I was suggested this website via my cousin. I am not
certain whether or not this put up is written via him as no one else realize such unique approximately my trouble.
You’re incredible! Thanks!
I joined in aug-16-2011 i left april 30-2012 after i joined other organsation sep-1-2012 ,First organsation pf amount transferred new pf account & i left sep 30-2016 nw can i apply my pf
You can apply for withdrawal of PF after 2 months of unemployment. You need to submit Form 19 and Form 10C.
Hi, worked from July 2014 -Aug 2015 and now want to withdraw PF. Need help with columns 16, 17 & 19
Column 16: Do I mention estimate of annual PF amount?
Column 17: —?
Column 19:Is it PF account details or FD a/c number (or PPF details) that need to be mentioned here?
Also I have contributed towards VPF. Is PF withdrawal combined with VPF?
Please advise. Any information would be greatly appreciated.
Hi,
I withdrew my PF when i was moving from my previous company and then worked in another company for 4 years. Now I have left the company in May 2016 for higher studies and want to withdraw my PF. My last IT Filed year was for the previous year, though IT was getting deducted for till May 2016. Please advise as to what would be my ‘assessment Year’ and ‘Last assessement year’ in form 15G. Also, I dont have any investments except for couple of LIC policies. Do I need to fill anything in the Schedules. Appreciate your response.
Thanks,
Abdul
Congratulations and best wishes for higher studies.
Please fill the form as per the form 15G in our article. There are no schedules..Form 15G has been updated.
Hello there,
Please consider my situation:
I left my job for higher studies preparation in June 2016.
Work Ex: Approx. 4 years
I need to withdraw PF in Oct’16 (Approx. 130000/-INR). Will file today if answers help me out.
What I can’t figure out is as follows:
Q1. In #4. Previous Year: What to fill in this?
Q2. In #15. Assessment year: What to fill in this? I worked for 3 month in FY 2016-2017(from April to June’16)
Q3. In #Declaration: Its all messed up in my head.
Q3a. “previous year ending on …….”
Q3b. “relevant to assessment year ……”
Q3c. “incomes..previous year ending on ….”
Q3d. and again “relevant to assessment year ……”
Considering my situation, what all years need to be filled in these?
Q4. What will happen in I fill ‘NO’ in #15?
PS: I am using the latest form 15G shown in the example above.
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Hi,
I worked for 1 year with this company and my Pf Amount is approx. 25000/-
As far as i have understood that in my case form 15G is not required bcoz the withdraw-able amount is less than 30,000/- and service is also less than 5 years. Hence no TDS will be deducted if i do not submit form 15G. Am I RIGHT ????
Regards,
AG
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Hi, I’ll be withdrawing my pf in Oct 2016,left my previous company in June2016, my total pf amt is 48000 and my salary for year march 2015-dec 2015 was 212184,which got appraised in Jan 2016 to 241080 ,I’m confused what amt should I mention in column 15,16,17,and the 19th column ,also in 19th column what is to be mentioned for identification number of relevant investment/account header? Nature of income header, and amount of income header..thanks
Suppose, I am withdrawing on 30 Sep 2016, EPF of Rs 1,20,00 and no other income & I have not filled income tax returns since last 2 years. What should be filled for:
Field 4 – Previous year (PY)
Field 15a – Whether assessed to tax under Income tax act
Field 15b –
Field 16 – Estimated income for which this declaration is made
Field 17 – Estimated total income of the P.Y. in which income mentioned in column 16 to be included
Also in the Declaration – what to filled for previous year & assessment year.
Thanks.
Hello Fenil,
We have updated the form for FY 2016-17.
Field 4 , Previous Year: 2016-17
Field 15A:Yes
Field 15B:Last AY when you filed the return
Field 16:1,20,00
Field 17:1,20,00
For declaration please check the image
Thanks for the quick reply. really appreciate it.
Just one more thing – for Field 15A & 15B – if I have not filed income tax return in any of the last years till now, then can I select no.
If you haven’t filed the return ITR ever then yes you have to say No.
Else mention that AY when you had filed ITR
Also in my case i am withdrawing my PF before 5 years of service, so I need to fill Form 19 (UAN), Form 10C (UAN) & Form 31 (UAN). Is that correct?
In Form 31 (UAN), Do i need to specify any particular purpose for which advance is required field.
Thanks,
Sir,
I served in previous organization for 2.5 years and my epf withdrawal application has been rejected by epf office.
On enquiry they told me that the TDS was calculated @ ~24% (which comes out to be around 65,000). They asked me to resubmit the form alongwith copy of pan card and Form-15G.
Currently I am in 10% tax slab.
Kindly guide whether I am eligible to submit form-15G for epf withdrawal??
At what rate TDS will be calculated if I submit only pancard?
What documents/forms I have to submit in this situation.
I want my pf withdrawal I filled 15g form but I have dought column 16 and 17 what is amount to be filled in that column
My total pf contribution 55000 so what amount to be filled
Sir,
My PF withdrawal from 10 C and 19, both are rejected by EPFO stating that “Form 15-G is not submitted”. Since it has already been rejected, kindly advise me a way so that I can go ahead with my PF withdrawal.
Can I just download form 15-G and post to the office of EPFO? Or should I have to re-initiate the whole process? Kindly reply.
whole process has to be reinitiated.
Hello Sir,
I would need your suggestion very urgently. Kindly help me.
I would like to withdraw my PF before 5 years and I don’t have any investments also to mention in 15G. Could you please tell me how much the tax deduction will be on my PF amount 370000. Kindly suggest
I am trying to withdraw my PF and filling form 15G in relation to that. In Field 22, Schedule III, does it refer to any persons that I have lent money to or does it refer to FDs in banks? Please advise.
You are referring to old form.
Maam Please read the article and see the sample filled form for withdrawing PF.
Money lent to any person does not count but FD in banks does
Hi Sravani. I just got my pf withdrawl done a week back from bandra mumbai branch and i personally went to epf ofice in pune camp to get the 15 g form filled since my questions were not answered by anyone in the forum. They gave me the form where the box 22 and 23 is for amount.if it is the old form then the pf office is still using it.they told me clearly not to fill anything in box 22 and 23 and only fill the addres pf number ward etc which is at the beginning of the form. I suggest you do the same and you will get the amount. My only problem was name in the bank account and name in pf and pan for which i also attached my bank statement along with cancelled cheque.
Thanks for information Veena
Sir,
I am getting confused in few points,
my situation is as follows :
i have 2 FD
Bank A : FD of 100000, interest earned of 7717
Bank B : FD of 100000, interest earned of 7523
1> my interest earned per bank is below 10000, do i still need to file 15G ?
2> there is no other source of income so what will be the values for 16,17,18
i know i need to file 2 forms for both banks,
Bank A : 16= 7717 17= ? 18= this is the first time i am filing 15G, so previous yr is 0 ?
Bank B : 16= 7523 17= ? 18= 0
kindly advise
If Interest from FD is less than 10,000 TDS would not be deducted.
So if interest earned per bank is less than 10K you do not need to file 15G
My father is coming under Super senior citizens category. Retired Government servent. Having pension 3.5 lakhes par year approximately. Age 80 and above are exampted from TDS up to 5 lakhes. Pension amount is included in this 5 lakhes limits?
Investment maid in the name of my mother is also illegible for another 3 lakhs exemption?
How to calculate interest from some FD’s with different bank and some FD’s with private company?
Yes Pension is considered as Income from Salary.
Investment in name of wife, if wife has no income is clubbed with husband. Please go through article Fixed Deposit in Name of Wife: Clubbing,Tax,TDS, ITR,Refund for more details.
If he had made FD in name of your mother, interest from FD is taxable not amount invested.
You can get Form 16A which shows TDS deducted on interest from FD. Interest from FD is deducted at rate of 10% if interest income is more than 10,000 in year.
You can get details about interest earned from FD every year from each bank.
Sir,
I fixed Rs, 1,00,000 and my monthly income is 10,000/- per month. What i filled in 16,17 & 18 column.
please take the latest form. the form you are referring to is incorrect. you will have to refer the form which has only 22 and 23 columns for amount.
Hi,
i am confused about what to fill in 15,16,17,18 & columns of latest Form15G. Let me give you some background, i worked for a company from Dec 2010 till 21st Mar 2016. Last time i filed my IT returns is in 2015 for AY 2015-16., i am yet to file my it returns for FY 2015-2016. Now i want to withdraw my PF amount which could be around 2 lacs and i have this pf account for more than 5 years. I dont have any income from April 2016. No FDs and nothing. Do i need to fill form 15g as below,
1) Column 15 (a): Yes, 15 (b): 2015-16
2) Column 16: 2 lacs(PF amount)
3) Column 17: 2 Lacs
4) Column 18 (a): 0
5) Column 18 (b): 2 lacs
6) Column 19: None
Please suggest me.
Thanks for your valuable time.
please take the latest form. the form you are referring to is incorrect. you will have to refer the form which has only 22 and 23 columns for amount.
Hello Sir, My PF withdrawl amount is about 440000 rupees. I would like to know if i need to fill 15g form since i have not completed 5 years in the pf account.
Also i am not working since 5 months. i left my job in jan 2016
i also wanted to know if i will be exempted from tax if i wait till november 2016 for withdrawing EPF since i will be completing 5 years of epf account by then. Also will i be allowed to withdraw if i wait upto that time because of the new rules.
i am not investing in PPF in year 2015. Should interest on PPF for previous years is to be added in total income in 15G Form.
No you should add income from PPF interest, as income from PPF is exempt income.
should or should not : as written in your reply pls elaborate to clear my confusion.
Hi,
Please help me with few queries.
1. I want to withdraw PF and worked for 2.4 years in the company.
2. Do you mean taxable income in this case is the total PF balance for AY2016 or total salary income for AY 2016 for 15G?
3.If I submit PAN but not 15G,will 10% will be deducted on 50K or on the total PF balance?
4.If I take th example of the above case,Is 1,30,000 is the total PF amount?
5.Is it a new rule implemented to deduct tax in EPF? Never filled this previously.
6. Is there any deadline to apply for the withdrawal or date set
Appreciate a quick response.
Regards
Partha
i also wanted to know if i will be exempted from tax if i wait till november 2016 for withdrawing EPF since i will be completing 5 years of epf account by then. Also will i be allowed to withdraw if i wait upto that time because of the new rules.
Also i am not working since 5 months. i left my job in jan 2016
Hello Sir, My PF withdrawl amount is about 440000 rupees. I would like to know if i need to fill 15g form since i have not completed 5 years in the pf account.
Thanks for the details for 15 G/15 H
I have no such option to fill Form 15G in onlinesbi. What to do now?
Submit it manually. Please either take printout of Form 15G or visit the bank and obtain the form.
Fill in the details and submit.
i would like to withdraw my PF of my previous organization, i Left the job Feb-2015 and joined another organization, I worked in my previous organization for 4.5 yrs. Do i need to fill 15G form. if yes can you please help me out what exactly to filled in columns 16 & 17, i understand i need to enter the PF amount to be withdrawn in column 16 , But in column 17 what i should enter.
Hello, Thanks for such a detailed article on how to fill up form 15G. I am withdrawing my PF after over 10 years of leaving the company. I have one point where am confused – does AY and FY apply to the current date/year which is the date of withdrawal or to the year dating back to the employment period for said PF?
AY,FY refer to the year in which you withdraw.
Field 4 , Previous Year: year in which you will earn your income for which you want to avoid TDS.
Calendar year starts on January 1 and ends on December 31 but a Financial year (FY) is from April 1 to March 31. As per the Income Tax Act, income earned in a financial year (FY) is taxed in the next Financial Year. FY to which the income belongs is called the Previous year (PY) and the FY in which the income is taxed is called the Assessment year (AY). Ex:The income earned from 1st Apr 2015 to 31 mar 2016 ,during FY 2015-16 will be assessed for tax in the 2016-17. Here, FY 2015-16 is called Previous Year and FY 2016-17 is called Assessment Year or AY.
I was an employee of a private company for 3 years and was drawing total salary of rs 2.15 lacs per annum. Now in april 2016 i have resined from job and doing my own farming.I wish to withdraw entire amount of PF.Please guide me regarding entire procedure and forms to submit and where to submit.
i wish to withdraw PF amount. i worked in that company for 3 years. i have applied for withdrawal after 8 years. i am still working with another company. i have taxable income from salary above basic exemption limit. the company is insisting that i submit form 15-G for non deduction of TDS. am i eligible to submit this form 15-G. kindly advise.
Theoretically you are eligible to submit Form 15G if your total taxable income(i.e income with deductions) is less than 2.5 lakh .
Theoretically you cannot withdraw if you are working , you need to be unemployed for 2 months.
Do 2 negatives make a positive?
Most of the companies are asking for people to fill Form 15G to avoid TDS being deducted as per income slab. That does not make EPF tax free
I have one more query though.
One of the deductor has provided me with a partly pre-filled form 15G, with a note tagged to points 15 and 19 (column for investment / account wise amount of income). Note says, “including interest arising out of renewal of existing deposits and new deposits placed on or before 31.03.2017”
I am of the view that such a note will be against the very schema of this form. Who will held responsible if the income-tax department finds it objectionable ? deductee right ?
You are right, if there is any problem in TDS deduction the deductee is held as Income Tax Department thinks its deductee responsibility.
But the language in pre filled form generated is limited by the software generating the form.
Did you ask the deductor about the explanation for the note in prefilled form?
Kindly guide if my understanding as mentioned here under is correct regarding few fields of form 15g
1. assessee is having multiple fixed depoists with 3 banks / institutions, and has submitted form 15g with each of these 3 entities say B1, B2 and B3, on 6th april 2016, declaring Rs. 20000, 30000 and 10000 under point no. 15 respectively.
Assesse is placing another fd with B1 on 1st of May 2016. In such case, assessee is requireed to mention details of “ALL” forms (including those submitted to other entities which in this case will be B2 and B3)submitted till 1st May 2016 under point 18. Hence assessee will have to mention under point 18(a) three and 18(b) Rs. 60,000/-
and not just the details of form 15g submitted with B1
2. The fact that assessee was provided old format of Form 15G on 6th april 2016 by B1, will not invalidate the declaration made by assesee to B1
Your understanding is correct.
1. For new FD opened on 1 May 2016 you would have to mention 18(a) three and 18(b) Rs. 60,000.
2. No once the form is accepted the form cannot be validated. You do have the proof that the form was accepted right?
thanks a lot !
yes I have the proof of that form
now the difficult part is to convince the bank official who is not agreeing to above 🙂
Won’t resubmitting the form be easier. Is he letting you resubmit the form?
Again if I am correct, deductors shall upload details under points 15 to 19 with regards to each form received for a particular financial year. So now there will be a sort of trail / sequence of forms submitted, backed by date and aggregate amount of estimated income in each case. I think re-submission will only complicate matters with reference to my earlier declarations with other banks / institutions.
The details pertaining to Form 15G/15H are reflected in Form 26AS.
Did you verify your Form 26AS?
Sir
I have only 12925 rupees in our p.f account as employee another by employer and I also worked in company less than 6 months job .So I want to known sir 15G form is necessary for me.
Sir my father retired on march 2014.He is receiving pension 18440*12=221280 /annum.
He has 3 fixed deposits in bank yielding interest=167176 on which TDS is continuously deducted since 2014.No form 15H has been filed.Even Pan card is not updated on his account.
Now i want to know that can he file form 16 for ITR.
He has not filed ITR or paid any tax(except TDS) in last two years. Is there any process to get return of tax paid for 2 years.
Filing of Form 15G/15H for non deduction of TDS with banks for FY 14-15 and 15-16 has been escaped and you cant submit for that years and bank wont accept it also. You have to proceed for filing of ITR without considering that as they have already deducted TDS on such Interest.
Firstly eligibility to file return arises once your gross total income before charging deduction exceeds limit specified in income tax. Here in your case that is exceeded and you are bound to file return of your father
Secondly date of filing of income tax return for FY 2013-14 has been passed and last date was 31.03.2016 . so now you won’t be able to file return for that particular year .
You have to wait for notice to be raised by department for that year and against that notice u will be able to file your return.and claim Tds deducted in ITR.
However you still have chance to file return for year ending 2015.(31.03.2015 ).since being a senior citizen and if he has any amount to claim u/s 80C or any other he will be able to get TDS back ; if deducted in excess of tax liability .
And filing of return is only way to get TDS back.(only If exceeded above tax liability).
I would like to communicate two points
1. Since PAN Number was not linked to the account, TDS must have been deducted at the rate of 20%
2. There is a possibility that the TDS might not have been accounted against the PAN in the records of IT Department even though the bank issues Form 16A.
Please verify latest 26AS for Tax Credit of the TDS for the respective year otherwise one may get notice on account of TDS mismatch when refund is claimed.
I quoted the above with my personal experience.
Sir I have a query. I have sb a/c in two banks,, OBC and BOI.In OBC my Fd interest is about 30000/ and I have deposited 15g. In BOI my Fd interest is about 8000/.I want to know that should I have to deposit 15g Form in BOI also, so that TDS is not deducted. My income tax calculated is Nil. Kindly clarify.
I urgently need the following information to be submitted to the Bank, as Saturday and Sunday, banks are closed, as you know.
I have filed Form 15H in April with Bank A – showing Rs. 12,395 in Col 15 and Rs. 3,70,000 in Col 16. (3,70,000 included (a) Pension (b) Interest from FD in Bank B AND Rs. 12,395 (which is the FD interest with Bank A).
Col 17 – Left blank
So no issue so far.
Now on Monday I will open a new FD with Bank A (which is actually renewal of deposits) and the expected income from the new FD will be say Rs. 10000.
So in the Form 15H which I will show now should be
Col 15 – Rs. 10,000 Col 16 – Rs.3,80,000
Col 17 Left side – Total No of Form 15H – ONE (NO ISSUE ON THAT)
Col 17 – Right side – The confusion here is, whether I should put Rs. 12,395 or Rs.3,70,000??
I shall be oblighed if this clarification is gieven as urgently as possible. Thanks.
Sir you are filling form 15H that means you are above 60 years of age.
Basic exemption limit for FY 2016-17 is 3 lakh.
So if your total income including pension and FD in Bank A and B is 3,70,000 ie above basic exemption limit.
You would need to invest in tax saving under section 80C/80D to bring your total taxable income below 3 lakh.
That is the amount you have to enter as there are chances that your form might get rejected as income mentioned is above 3 lakhs.
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made.
So now for Col 17 you would have to fill 3,80,000 the latest total taxable income.
Sir,
I have join the company in august,2007 whose office is in west bengal and pf no issued and later it was take over by another company in 2009 whose office is in Delhi,with another pf no. the amt. deducted,as i have two PF no. now i want to know weather i need to fill the Form 15G or not as i have resigned in november 2013. MY first pf was not operational.MY employee code with the company is same for both the pf a/c
Please help me filling up 15G form.I don’t have any investments to declare. I have worked for less than 5 years and want to close the PF account as I am going for higher studies. And, my salary is not taxable yet.
Congratulations and Best wishes for your higher studies.
Julie then just mention the amount you would get from EPF withdrawal.
Please refer to sample filled form for EPF withdrawal
There instead of total income of 1,40,000 it would be 1,30,000 – the net EPF withdrawal amount
Sir,
How income from dividend / shares for 2016-17 can be estimated at the beginning of 2016-17.
Income from dividend and shares is tax free (if done on stock exchange where STT is paid, so it would not be included in taxable income
I am new to all these income tax forms. I want to withdraw my PF. And as I have worked with my company for less that 5yrs, I have to submit form 15G. My income was taxable one.my job ended 30 may 2015. Now my question is at this particular time may4’16. Which is my PY, also please advise what is to be filled in col. 16, 17, 18, 19
See the sample filled form for EPF withdrawal
Field 4 , Previous Year: year in which you will earn your income for which you want to avoid TDS. So for filing between 1st Apr 2016-31 Mar 2017 PY will be 2016-17.
Field 16 is EPF amount that you would be withdrawing.
Field 17 is : Total taxable income of current year
Field 18: have you filled any other 15G form. If not then you don’t have to fill this/
File 19:Details of income for which the declaration is filed, Please mention your EPF details.
I am withdrawing my PF amount after I quit my job, and total of my share and my employer share with interest is approximately 4,00,000. I am also paying housing loan, where I have paid 3,00,000 towards principal and 80,000 towards interest in this financial year. could you please clarify if TDS will be deducted on my EPF withdrawal. I have continuous service of 7.5 years
Also clarify if I have to submit the loan repayment provisional certificate to the PF dept to avoid TDS.
As you have worked for 7.5 years your EPF withdrawal will not be taxed.
You don’t have to event submit Form 15G. But many organizations are insisting on it.
You don’t have to submit any document(provisional certificate) to PF dept.
First verify with your company whether they are asking you for Form 15G.
If yes, you need to calculate your total taxable income for this year . Income from EPF is Exempt . You need to mention that in your Form 15G.
Thank you for your quick response, really appreciate it.
Yes, my company is asking me to fill the 15G form and submit it along with the PF withdrawal forms.
As I have only worked for 2 months in this period, there is no taxable income for this FY. however you have mentioned as ‘You need to mention that in your Form 15G.’ Please clarify as to what needs to be mentioned.
Also please let me know, how do I come to know what % of my PF balance the PF dept has give me post my withdrawal forms submission. for your information, I want to withdrawal the full extent amount possible (employee share, employer share and interest portion). Please advise.
in my UAN passbook there are 3 columns, employee share and employer share and a total amount. my question here is what is the amount to be filled in 19 Amount of income?
also wanted to know about the roll back of rules regarding EPF recently. can we now withdraw both employee and employer share?
The total amount if you are withdrawing only EPF.
If you are withdrawing EPS too than EPF + EPS
Filling of Form 15H – request for confirmation of interpretation.
I have expressed my doubts in the following paragraphs with example with respect to filling of New Form 15H. Please confirm if the interpretation is correct.
Person: Senior Citizen
Occupation: Retired Government employee.
Source and amount of regular income: Government pension Rs. 2, 40, 000/- i.e., income of P.Y. (Previous Year, FY 2016-17).
Income from other sources: Rs. 1, 62,500, interest on FDs (paid / to be paid or accrued for P.Y. FY 2016-17).
Interest on FDs is received from three banks (five branches).
Bank 1 – Rs. 37770, Bank 2 – Rs. 43240, Bank 3 – Rs. 43945, Bank 4 – Rs. 26750, Bank 5 – Rs. 13050.
Form 15H is to be given to five different banks / branches.
Gross income: Rs. 4, 02,500 (240000+162500), Taxable income: Rs. 2, 52,500 (402500-150000).
If I fill columns 15, 16 and 17 in the following manner and submit at each branch, is it correct or incorrect?
Bank 1
15. Estimated income for which this declaration is made
37,770 16. Estimated total income of the P.Y. in which income mentioned in column 15 to be included.
2,40,000
17. Details of Form No. 15H other than this form filed for the previous year, if any
Total No. of Form 15H filed Aggregate amount of income for which Form No. 15H filed
4 (5 Branches – this Branches = 4) 1,62,500 {or 124230 (162500-37770)}
Bank 2
15. Estimated income for which this declaration is made
43,240 16. Estimated total income of the P.Y. in which income mentioned in column 15 to be included.
2,40,000
17. Details of Form No. 15H other than this form filed for the previous year, if any
Total No. of Form 15H filed Aggregate amount of income for which Form No. 15H filed
4 (5 Branches – this Branches = 4) 1,62,500 {or 119260 (162500-43240)}
Sir Our understanding is as given below.
Our assumption : Interest from FD is different from Income from Other sources.
Your total interest income from all the banks is 164755 (Bank 37770, Bank 2 – Rs. 43240, Bank 3 – Rs. 43945, Bank 4 – Rs. 26750, Bank 5 – Rs. 13050)
So your total income becomes : 164755 + 162500 + 2,40,00 = 5,67,255
Total taxable income assuming 1,50,000 in 80C =567255 – 150000 = 417255 which is above basic exemption limit of 3 lakh for senior citizen.
So you should be paying tax on it and are not eligible to fill Form 15H.
I am sorry that my addition of interest from FDs is wrong; it is 164755 not 162500.
I meant by “Income from Other Sorces” in this particular context that it is in addition to the income by way of pension.
Hence total income is 404755 only not 567255.
I submitted Form 15H as guided by bank concerned.
I found conflict of statements in column No. 15 of the format on page 1 and Instructions in page 2.
Thanks for sparing your time.
So what did the bank guide you?
And what is the confusion?
PLS help on 17 18 secton
17 I want to know what sources of income should i calculate and mention in no.17
do i have to only include fixed deposits interests from all the bank including the bank i am filling the form for or i also have to include salary.
18. and on this section it says aggregate amount of income for which form is filed.What does that means? does it means the same thing as 17 no?
i want to know how to exactly calculate and from which sources.
thank you
Field 17 is Estimated total income of the P.Y. in which income mentioned in column 16 to be included.
So your total taxable income which is Income from FD interest + Income from salary – Tax savings under section 80C – tax saved under section 80D
Field 18 is Details of Form No. 15G other than this form filed during the previous year, if any. : If you have filled any other form 15G then mention those .
I have left my job in March 2015. I want to withdraw my PF now.. Should i fill up 15g or submit it online through bank.
I have to fill the Form 15H and i have multiple FD’s in the same branch then does i have to give detail of each FD in the Form 15H or a total sum is enough.
Ideally you should give all the details of FDs with that particular bank. In bank system they usually feed with customer ID . And one customer ID covers all the FD etc
I am tax advocate. I have a query. Is it compulsory for deductor to online submit 15G data: Or is it enough if deductor accepts 15 G from deductees manually and allot them Unique code and submit that information in his/her quarterly tds return. I am confused on this point. In former method deductor is submitting 15G information ‘2’ times to income tax deptt., firstly in online 15G and then TDS return. There is so much onus on deductor and with no oonus on deductee. I dont think this is the intention of deptt. Please clear the same as I have not online submitted 15G till now.
Dear Sir,
Indeed a very useful article, well explained in simple language. Thanks a lot for it. Please clarify the following two points :
1)For FY2016-17, a senior citizen has total income of Rs 5 Lacs. He is saving Rs 1.5 Lacs under section 80C & claims rebate of Rs 5000 under section 87. Thus his tax liability becomes nil by claiming rebate under Section 87. Can he file Form 15H ?
2)If yes, what should he write in Field 17 of Form 15H – Rs 5 Lacs or Rs 3 Lacs or something else ? Bank is refusing to accept Form 15H if anything above Rs 3 Lacs is written in Field 17 of Form 15H. What to do ?
Thanks
Thanks for appreciating it.
1. Yes if your total taxable income is less than 3 lakh you can apply for form 15H.
2. Field 17 is Estimated total income of the P.Y. in which income mentioned in column 16 to be included. So Please enter your total taxable income.
Bank officials are in a way correct for the form says total income. And if you write above 3 lakh they have to ask for deductions.
Govt should clearly mention total taxable income instead of total income.
Sir
My dad is a retired gov official aged 60 bearing a pension of 300000/anum
I am planning on making a deposit of around 2000000 in his name .. Which will earn an interest of 160000/anum
Thus 150000 will be deposited to ppf under 80c
10000 of medical insurance under 80D
Can he submit 15H
And evade all the tax?
Thank you
Arjun, good to know you are taking interest in your parents finances.
Yes he can submit form 15H if his total taxable income is less than 3 lakh. Total taxable income means Total income (3,00,00 + 1,60,000) – 1,50,00(PPF under 80C) – 10,000(80D)
He is not evading any tax by filling Form 15H he is taking what is due to him.
There is no loop hole in it.
What to mention on the “Amount of Income” column in 15H form? I have fixed deposits at bank. Thanks.
Maam Amount of Income in Column 19 is the interest on FD that you would be getting in that financial year.
good effort .
Thanks Abhishek. If there is something missing/wrong please do let us know.
hello,
I am a senior citizen.I submit 15H form in April2015 assuming that my total income does not exceed Rs 300000.
No tds deducted. Now I calculate my pension for the year ended 31march 16 was Rs 220000 and interest from fixed deposit Rs 130000. Total Rs 350000 .I bought Senior Citizens Savings Scheme Rs 60000 in march 2015. This scheme qualifies for the benefit of Section 80C. So my income after deuction 350000-60000=290000 under the limit.I also submit income tax return next month.
My question is now can I submit 15H form in april for this year or not? Suppose this year also my income about to same last year and I will buy NSC or Senior Citizens Savings Scheme and bring down my total income in limit.Please Help.
Yes Sir.
For Senior Citizen the basic exemption limit is Rs 3 lakh. If you can reduce your taxable income by investing in tax saving investments like 80C,80D then you will not have to pay any tax on your income. You can file Form 15H to avoid TDS deduction.
Dear Sir/Madam,
In the reply to query of Mr.Prabir Mukherjee you have suggeted that “If you can reduce your taxable income by investing in tax saving investments like 80C,80D then you will not have to pay any tax on your income. You can file Form 15H to avoid TDS deduction.”
My question is that in this case can a initial declaration at the time of submitting form 15 that investment will b e done U/s 80C is acceptable by Bank or the prrof of it will be required at the time of submission of 15G form. Is there any guidelines from the ITO ?
No there is no proof to be submitted and there is no guideline from ITO.(i’ll cross check and update)
It shows up in Form 26AS under your PAN so Income Tax department knows about it.
The income is total taxable income which includes all deductions like 80C and 80D etc.
Thanks for the reply. Ok but if the customer gives the declaration amd did not submit the proof during the F.Y. Who will be responsible because the bank has not deducted TDS as per his declaration with 15H.
Please guide as soon as you confirm. I am asking this question in view of the Banker.
Thank you.
As an example, a Sr. Citizen fills Form 15H for FY 2016-17 at the start of FY 16-17. He has planning to invest Rs. 1.5 Lakh under Section 80C in FY 16-17. He has interest income from FD Rs. 4 Lakh in FY 16-17. What is the amount that should be filled in Column 17, Rs. 4 Lakh or 4 – 1.5 = 2.5 Lakh?
I have an additional query linked to the above query.
The person have FDs in 5 other banks. He has filled 5 Form 15H in those 5 other banks.
Now the query is what shall be written in Column 18 Part 1 and Part 2?
Column 18 Part 1 : Number of Form 15H filled other than the one you are filling, which in your case is5.
Part 2: Total interest income from other banks.
Please note that interest income for FY 2016-17 should be reported not for entire FD.
A Very interesting question. The basic conditions for filing 15H are—the final tax on estimated total income computed as per the Income Tax Act should be nil
So you mention 2.5 lakh in Column 17, Estimated Total Income
ays
April 17, 2016 at 12:16 pm
I am little bit confuse in section 16 and 17 as-
(16)Estimate Income for which declaration is made &
(17) Estimate Total Income of the PY in which income mentioned in common 16 to be made.
If I have a FD of 100000 Rs and I got interest on it of 9000/- Rs.Then what Should I fill in these two column.I have no job so what I should fill in this section.
Coming to your question:
In your case Field 16 and Field 17 are same as you have to other income than interest from FD.
As your interest on FD is less than 10,000 Rs you should not get TDS deducted. Please verify your Form 26AS.
15G/H Form is to avoid TDS deduction in future.
sir,
Estimated total incomeof the p.y…(COL.17),(1)does it mean the total gross salary+BK.intt.? (2) how i will put my salary- after deducting the standard deduction + savings(1,50,000/-)?
PLZ.HELP ME…
It means your total taxable income which is Salary + Bank Interest — Savings
Sir,
regarding fixed deposit statred from 2014 which will mature on 2017 ,how to calculate interest per year
Use the calculator Calculation of Interest per year in FD using HDFC calcualtor
Sir,
I have recurring fixed deposit starrted from 2011 and will mature on 2018. Ehat should i wtite in income cloumn from interest as i wwill draw total interest at the time of maturity,
You would have to write interest income earned in the financial year.
thank you for information regarding form 15g/h
my dad is above 60year of age.
Total MIC Interest 7106 per month
Pension 14899 per month.
suggest me what to do to avoid any kind of tax.
plz suggest & tell me the fill up procedure.
Sir,
Your father’s total annual income is (7106 + 14899) *12 = 2,64,060
As he is above 60 years, basic exemption is 3 lakh.
So he is not liable to pay any tax .
He does not need to make any 80C deduction.
If has FD and interest in FD is more than 10,000 Rs you need to fill and submit Form 15G. Else TDS will be deducted and only way to claim is by filing ITR.
Our article Income Tax for FY 2015-16 AY 2016-17 discusses ITRs and exemption limit in detail.
How much money in a year when interest “TdS” will cut. I interest year 8900 / –
Than 15G fillup forms need to be there?
PLEASE…. HELP
Only if the interest in the Financial year is above Rs 10,000 TDS will be deducted.
If no TDS is deducted then no Form 15G has to be submitted.
Though no TDS is deducted one needs to pay tax on interest earned as per the income slab.
We have explained this in our article Video on Fixed Deposit, TDS on FD and how to show Interest income from FD in ITR
Hi,
I have resigned from my job in Aug 2015 .I have 5 yrs of continous service in the same compnay, after resigning the job I have not joined anywhere. Now I want to withdraw my PF money. I hope there would be no tax and also I want to withdraw full amount as the dead line is till this month end. I Got confused while filling form 15 G ( am filling the old form) could you please help on – what to fill for Assessment year and last assessment year in which assessed .
As I will be withdrawing my entire PF amount do I need to mention anywhere?
Thanks,
Ajay
Hello Ajay,
You need to fill the new Form 15G . You can see Withdrawal at the sample filled 15G form for EPF withdrawal
i didn’t understand that sample form.. it says estimated income for which this declaration is made is 130000 (1 lac 30 thousand) and total estimated income of PY is 14 thousand only. and in column 19 its now 13 thousand.. can you explain these numbers?
Thanks for pointing out the mistake. We have corrected the sample form. Hope its clear now.
Thanks again.
There is confusion in filing multiple Form 15G or 15H. If one has multiple FDs with multiple entities, it is OK and necessary to submit form 15G or 15H separately. But my query is, if one has 3 FDs with same Bank branch or same Company, why one should fill up 3 Form 15G or 15H? Since there is provision below point No. 19, I feel we can combine all the FDs by adding serial numbers and giving details of fixed deposits with the same bank branch or Company. Kindly clarify since I have filled only one 15G for 3 FDs with same Company.
Yes Sir it’s OK.
If one has 3 FDs with the same branch or some company one can submit 1 Form 15G/H for all the FDs together.
MY FD ON BOI MATURED ON 17/3/2016, AND I WITHDRAW THE MATURED AMOUNT. BUT I WAS NO IDEA ABOUT 15G FORM AND BANK DID NOT GUIDE ABOUT THE MATTER. WHEN I RECEIVED THE AMOUNT THEN BANK DEDUCTED TDS ON MATURITY AMOUNT.SO I HAVE ANY WAY TO RECOVERED THE DEDUCTED AMOUNT , PLEASE GUIDE
You can recover the TDS deducted by filing ITR.
But before that find out it you are eligible to pay Tax on FD. TAX on FD is as per your tax slab. Only if you are below the exemption limit you will not need to pay tax on FD.
Our article Video on Fixed Deposit, TDS on FD and how to show Interest income from FD in ITR discusses it in detail.
dear sir,
i had 2 FB in one branch of Indian bank and other fds in sbi branch. for indian bank can i fill only on e form for 2 fd and for sbi one form for other fds?
Yes that should work. If it does/doesn’t do update us.
What should be to fill up in form no 15G -amount of income in column 19 plz help. Is it the same amount that will be given in column no 16??
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year. If its EPF Withdrawal then mention amount of EPF Withdrawal.
Field 19. Details of income for which the declaration is filed, Mention the distinctive number of shares, account number of term deposit, recurring deposit,
National Savings Schemes, life insurance policy number, employee code, etc.
Sl. No.
Identification number of relevant investment/account, etc.
Nature of income
Section under which tax is deductible
Amount of income
So Field 19 has details of EPF if Form is For EPF Withdrawal and FD details if form is for FD.
My father had 2 different FD of 10lakh each in single branch getting Rs16036.68 pm as a interest , while filling the new form 15H there is a confusion regarding section 15,16 and 17. Plese help
What is the confusion?
Is the interest for this FY 16036.68.
You should submit 1 form for both the FDs.
Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return.
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year. In your case based on your info its 16036.68
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made. Total income of your father in this year.
MY DAD HAS DONE mis monthly instalment salary in sbi of his retired income…………….so while filling the 15h form what should he fill column 15 and 16…………..say 14 lakh is maturity amount and rate of interest is 9.25 percent so what we have to fill…….in Estimated income for which this
declaration is made and 16. Estimated total income of the P.Y. in
which income mentioned in column 15 to be
included5
please help
Thanks for the reply
Hi,
I have resigned my job on 18th May 2015 and I want to withdraw my EPF. I have total experience of 7+ years(4.8 yrs in former company + 3.1 yrs in latest company) by the time I resigned. My EPF forms were rejected by my organization due to non submission of Form 15G. I do not have an fixed deposits in any of the bank. Could you please suggest do I need to still submit Form 15G? If yes, Please suggest what to fill in Field 16, Field 17 and Field 19 (column – amount of income)?
Thanks in advance.
Rajendra
Have you transferred your earlier EPF account(4.8 years) to the latest company?
Form 15G has to be filled so that TDS is not deducted on EPF withdrawal.
So if you are withdrawing for just 3.1 years then you need to fill form.
If you merged your EPF accounts then you should not have to fill Form 15G.
But Many Companies are being cautious now and are asking to fill Form 15G.
Please go through our sample filled form for reference
If you don’t have any other income then just mention the amount of EPF withdrawal.
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form : this is the amount of EPF Withdrawal.
Filed 17:Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made.
As you have no other income this would be EPF amount only.
Field 19:Details of income for which the declaration is filed, Mention the distinctive number of shares, account number of term deposit, recurring deposit: Here you enter details of your EPF.
Thank you for the information.
That was really helpful.
yeah I have transferred my earlier EPF account(4.8 years) to the latest company.
I will fill-up my EPF account details in Field 19 (Amount of income – should be my EPF amount only right ?)
Hi,
I need your help in filling form 15g for pf withdrawal. I have left the organizationn in the month of Sep, 2015 and I am currently unemployed. The total income which is mentioned in form 16 is 220200 and my pf amount is 41943. As I am filling the form in this new financial year, I need your help. Please help me with this details:
4. Previous year?
15. (a) Whether assessed to tax under the Yes No
Income-tax Act, 19615
(b) If yes, latest assessment year for which assessed(should I input 2015-16)
16. Estimated income for which this declaration is made(please help with the exact amount)
17. Estimated total income of the P.Y. in which income mentioned in column 16 to be included(please help with exact amount)
19. Details of income for which the declaration is filed?
Also, what years should I input under the Declaration/Verification
I/We further
declare that the tax *on my/our estimated total income including *income/incomes referred to in column 16 *and
aggregate amount of *income/incomes referred to in column 18 computed in accordance with the provisions of the
Income-tax Act, 1961, for the previous year ending on ……………….. relevant to the assessment year ………………will
be nil. *I/We also declare that *my/our *income/incomes referred to in column 16 *and the aggregate amount of
*income/incomes referred to in column 18 for the previous year ending on ……………….. relevant to the assessment
year ……………… will not exceed the maximum amount which is not chargeable to income-tax.””
{Please help with exact data. I am really confused)
Thanks in advance.
Form 16 was issued while I was working….
Please see the sample filled 15G form for EPF withdrawal
Sir what is the last date to submitt return by desuctor
Sir!!! One finance company has took loan from me and they are paying interest of 60000 to me.They are saying that they wil deduct TDS on my interest.Can i give 15g to him through online/offline.If Yes,pls let me know the online procedure…….
What is the last date to submitt 15 G/H return
There is no last date as such for submission of form 15g and 15h.
You must do so at the start of the financial year so that bank doesn’t deduct TDS on your interest income
What if you open a FD in Aug, as bank will start deducting TDS every quarter. So, if you opened a fixed deposit on Aug 1, 2016. You should submit the Form 15g or form 15h by Sept 30 for FY 2016-17. Ideally, it should be a few days before this.
For existing investments You should submit for the next year that is financial year 2016-17 at the start of the financial year. This way no TDS would be deducted.
The estimated total income wil b the amount which is included in form 16 under number 12. Right???
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made
Yes it includes the amount mentioned in Field 16.Field 16 is Estimated income for which this declaration is made,
Sir,
I would like to know that the years shown in your sample form is that what we can fill in. I fill it for my mother and i am confused in those two parts only.Point 4 Previous Year and point 14 yes or no. If yes the year. Since her income is around 1lac per year do i fill in yes. If yes what should be the year.
Thanks
Yes Sir I have updated it for the current financial year.
Field 4 , Previous Year: year in which you will earn your income for which you want to avoid TDS.
Calendar year starts on January 1 and ends on December 31 but a Financial year (FY) is from April 1 to March 31. As per the Income Tax Act, income earned in a financial year (FY) is taxed in the next Financial Year. FY to which the income belongs is called the Previous year (PY) and the FY in which the income is taxed is called the Assessment year (AY). Ex:The income earned from 1st Apr 2016 to 31 mar 2017 ,during FY 2016-17 will be assessed for tax in the 2017-18. Here, FY 2016-17 is called Previous Year and FY 2017-18 is called Assessment Year or AY.
Field 14 is Telephone number, Phone number both LandLine number with STD code and Mobile No. If you don’t have Land line just fill Mobile Number.
Field 15 (a) , Whether assessed to tax under the Income-tax Act, 1961. Yes or No, Check the appropriate Box. Mention Yes if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.
Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return.
Field 15 is if she has filed her ITR. If yes for which year
Sir,
Thanks for the reply. I have filled in the form like your model form including dates. So i hope things are all into place since i stay away from them.
Thank you so very much for the response.
sir/mam,
i have a RD (recurring deposit) in one bank @ 2000/ month and also have a FD (Fixed deposit) in another bank for Rs. 20000.
My total income is not taxable.
so , plz guide me in filling up 15G form.
thanking you.
Your total interest from these 2 investments will exceed Rs.10,000/- in a year. As such you need not submit form 15G for these 2 investments. But keep track of your investments and interest income and if the interest income crosses Rs. 10K in a year, you have to submit form 15G.
CORRECTION :
Your total interest from these 2 investments will NOT exceed Rs.10,000/- in a year. As such you need not submit form 15G for these 2 investments. But keep track of your investments and interest income and if the interest income crosses Rs. 10K in a year, you have to submit form 15G
For Fields 6,7,8,9,10,11,12, is it the company address or residential address that needs to be filled?
Hi
I have fd in different banks. Do I have to fill other bank fd details while filling form 15G in a particular bank.
Sir,Let me know that (1)in one bank branch having three FD in same,then how many form 15G/H should file. ONE or THREE? (2)Under which section falls FD INTEREST ? it is under Section 194?. (3) How can calculate Amt. of income for FD.It can also prematured if required in emergency! Can provisional amt mansion?.
1. You can fill 1 form with information about each FD.
2. FD Interest comes under section 194A – Interest other than interest on securities
3. You have to calculate the interest income for that financial year,assuming there is no emergency. You can try the calculator at Fixed Deposit Calculator with interest for each year
Now in this F/y , do I need to fill f.d interest which will be matured after 3years ?
Do I need to fill interests of FD which Will be matured 2019 -2020. ?? ( in amount of income )
No only the interest that is applicable in FY 2016-17 or between 1 Apr 2016 – 31 Mar 2017
If my FD will be matured in 2017-18 ( 3 yrs term FD) should I devide maturity interest income by 3 (because 3 yr term) and write that income??
Respected Sir/Madam,
My widow mother (53 yrs.) is a pensioner and I (her son) manages the finances of my mother.
Her total income of last financial year was nearabout Rs.3,50,000/- (pension + bank f.d. interests + k.v.p interests).
I went to the bank for submitting her 15G, but the bank simply refused to accept her 15G citing some changes in the income tax process. Can the bank refuse to accept her 15G ?
What should I do now ? since her tax on total income will be ‘NIL’ (due to her contributions towards 80C plans).
Kindly, reply positively and thanks in advance.
There are some changes in the Form 15G and 15H compared to last year and you must have filled up the old format. Please ensure that you filled up proper forms (as per specimen given above) and approach the bank once again.
Respected Sir,
I did fill the current 15G form and approached the bank to submit it on 4/04/2016, but they said that since my mother’s total annual income is more than Rs.2,50,000/- (the minimum tax free limit) hence they will not accept my mother’s 15G submission. This has been instructed to them by their higher authorities.
They explained that the T.D.S from all the F.D.’s which are available in the name of my mother will submitted to the income tax department and when my mother will submit her income tax return in july, at that time she has to apply for the refund of that T.D.S amount from the I.T. Dept.
Yes, banks have started refusing receiving form 15g/h if the total income exceeds the threshold of taxable limits
Since your mother is 53 yrs old, she falls in the normal category where the income above 2.5 lakhs is taxable. Since her income from all sources is 3.5 lakhs, the banks have the right of refusal to receive form 15g
The correct process for you is to claim any TDS back by filing an IT return at the end of the year and claiming the exemptions under section 80C for the investments done
If you look at the image Eligibility criteria for Form 15G/15H Only if her interest income is above 3.5 lakh, she is not eligible.
Please check the eligibility criteria if she invests Rs 1 to 1.5 lakh in 80C then her total income becomes less than 2.5 lakh. Then she has right to submit her Form 15G
hello ,
my father is a govt emplyee. so, he has to fill tax return file evry year . he has 4 fd accout having interest more than 10000 p.a. each. shoud he need to fill 15g ? will the bank charge TDS otherwise ?
thank you
Sir
Good to know that you are taking care of your Father’s finances.
If Interest on FD in that financial year is more than 10,000 then TDS will be deducted, unless Form 15G/15H is submitted.
If your father total income after Tax Saving deduction is less than 2.5 lakh(if his age is less than 60 years)/3 lakh(if he is between 60-80 years)
For whichever FD interest is more than 10,000 between 1 Apr 2016-31 Mar 2017
submit for each of those FD
thank u
his net taxable income is more than 2.5 lakh (after tax saving deduction u/s 80C – 80E). so there is no need to submit 15G?
another query from me is , if anyones savings account interest is more than 10000, then is there any need to fill 15G ?
Of course he has to submit form 15G every year (during April) as per new format specimen of which is given at the top of this article. Otherwise the bank will deduct tax as and when interest is payable.
I have 3fd of 5lakh each with 8.5% interest what will be my 16 17 18 19
Thanks
If you satisfy the conditions for 15G then you need to
1. find out interest in each of the FD for this year.
2. Submit Form 15G for each of the FD.
Form 15G has to be submitted so that TDS is not deducted. If interest from FD in that financial year exceeds Rs 10,000 only then TDS will be deducted.
Good Evening sir plz tell me how do 15G And 15H
Your question is incomplete. Please complete.
Please follow the instructions mentioned in the article.
If you face any problem do let us know.
There are certain Fixed deposits in joint name of me and my wife. Please clarify this :
Interest from such Fixed Deposit Receipts should be included in whose 15H i.e., whose income it is treated as?
Income from Joint Fixed Deposits is included as income of first holder. So First Holder should submit form 15H if above 60 years. If first holder is below 60 years he/she should submit Form 15G
Thanks for the reply.
I come in the slab of Rs.250000-500000, and net tax payable is nil (after LIC/PPF investments). However, my interests from banks exceed Rs.10000.
Should I submit form 15G?
Dear HR
iam from bhubaneswar. I have worked for IBMdaksh from 2006 -2009, now i want to apply my pf balance. How i can know my amount to fill up form 15g. please somebody
help me.It is very confusing.
Sir,
First find your EPF balance. You can refer to our article How to get information about EPF balance : Annual Statement, SMS, E-Passbook
or EPFO Mobile App , SMS Service and Missed Call : Employee Provident Fund
Fill that amount as shown in sample form Sample Filled Form 15G for EPF Withdrawal
Hello Sir
My wife’s interest income is less then 2,50,000
Her other income is 1,10,000
She has invested 1,50,000 in PPF for tax saving.
Her tax liability is nil.
Whether she is eligible for 15 G.
If yes what total income of the year she has to show at field no 16.
Sir,
If you look at the example provided in image Eligibility for TDS , as her total income after tax deduction is less than 2.5 lakh she is eligible to submit Form 15G
BANK F D COMES UNDER SECTION 194A
COMPANY DEPOSIT UNDER SECTION 194A
WHILE NCD FROM COMPANY LIKE STFC (SRIRAM TRANSPORT FINANCE COMPANY) SCUF
MUTHOOT
MANAPPURAM
SREI INFRA
COMES UNDER THE SECTION 194A OR 193?
NCDs refer to Non Convertible Debentures,
NCDs are not subjected to TDS: Returns from several venture instruments such as bank fixed deposits and company fixed deposits are subject to tax deduction at source (TDS). But in case of an NCD, as per section 193 of the Income Tax Act, no such taxes on interest earned are applicable when securities are issued by a company in a dematerialized (Demat) form and listed on a stock exchange. However, taxes are applicable to NCDs if they are in physical form. Also, a Non Resident Indian (NRI) who invests in NCDs is subject to TDS according to section 195 of the IT act.
hello sir
i want to file form 15 online. i have created login-id & while uploading 15g i have put signature file and the system shows pls upload a valid signature file. pls help me. i m unable to upload my form 15g
Which bank are you submitting your 15G for?
dear ,
what you try to upload on income tax site is for who take form 15G/H . like bank , any audit frim has to file this aacepted from 15G/H under their TAN no.
and valid signature you have to add latest sign in profile by using DSC management utility available on site that sign file you have to upload at the time of this 15G/H consolidate file submit.. refer HELP section on income tax site .
sir,
i worked i company from 6sept 2013 to 15oct2014. when i resigned i had submitted all PF cloure documents.but few days before it rejected because of 15G form. so i need to fill up 15G form for getting PF .but sir i have problem while filling 15G form
1)what should i fill in the field 3(assesement year)
2) declaration dates
3)field no.21,22,23,24
please help me as soon as posssible
The Form 15G has been updated. Now it does not have Fields 21,22,23,24.
Please check the sample filled form Filled Form 15G
You can download the form from locations mentioned in article
sir,my elder brother have a fixed deposit a/c .his principal amt is 135135 n rate is 7.75 n for 2 years n value date is 11-09-2015..now what is the amount of income ? n it is will be shown in field no .19 m I right?plz reply me sir
Good to know that you are helping your brother.
FINANCIAL YEAR WISE INTEREST AMOUNT
2015-2016 5891.33
2016-2017 11226.54
2017-2018 5304.13
TOTAL INTEREST 22422.00
So for the details you have given your interest income in FY 2015-16 is 5891.33 Rs. Only Interest is income not the Principal
i have to mention all the 15 G forms details in sr no 19. For example i have invested in six banks & filed 15 G in all the six banks , then I have to show all the interest income seperately at sr no. 19.
In sr.no. 19 you have to mention ONLY that particular bank/company FD details.
But in sr. No. 18 you have to mention the total no. of form 15G submitted to various banks/companies. If you have given Form 15G to 4 banks and 2 companies, you can mention total 6 Nos. form 15G submitted and you have to mention the total interest you will earn from all these 6 banks/companies in the next column.
THANKS FOR THE REPLY
Hi bemoneyaware,
I come in the slab of Rs.250000-500000, and net tax payable is nil (after LIC/PPF investments). However, my interests from banks exceed Rs.10000.
Should I submit form 15G? My CA says I can’t.
Where to submit form 15g physically other than bank interest.
how much can the income tax department charge interest on an fd’s in a financial year . Is there any limitations of any tax cess / tax free if he/ she is a service holder and not a senior citizen .
Presently i am an NRI who is planning to withdraw my PF in India. Do i need to fill up a form15G. What are the documents that is needed to process my pf withdrawal.
Thank you in advance.
I am a partner of a limited liability partnership (LLP) firm. The firm gives loan to me on which TDS should be deducted. 15G was submitted physically for non deduction of TDS. However from this year 15G has to be submitted online. 15G utility has been downloaded from income tax site and has been filled up.But, I am unable to understand the process of submission of 15G by the firm? Also,the firm is already registered in income tax site as LLP. Does the firm require to register as Tax Deductor and Collector also?
All those persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN.
TAN is required to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued. TDS/TCS returns will not be received if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks. Failure to apply for TAN or not quoting the same in the specified documents attracts a penalty of Rs. 10,000/-.
Information about TAN (pdf)
SBI does not allow online submission. When you hit ‘submit’, the damn website generates a PDF file which must be printed out and submitted to the branch. IT Department can dream on. Nationalized Banks will take a long time to change their ways.
i’m currently working for a private company… june month is my last working day and by that time i’ll have 4.5 years of PF contribution … i’m not going to work anymore.. if i dont withdraw PF for the next 6 month do they consider it as 5 years and exempt me from tax??
Sadly No. 5 years mean 5 years of contribution to EPF Fund.
Thank you very much for a very useful summary. I am writing for my parents who are senior citizens and submit 15H form every year in first week of April. With the new rules from Oct 2015, can they submit 15H any time in the year or do they have to submit in April and specifically first week of April ( I guess start of financial year). They might be travellig in April – can they submit now in March or wait till May.
Thanks very much for your help!
As far as I know 15G or H should be submitted preferably during the 1st week of April or at the time of opening the account whichever is earlier to avoid deduction of tax. In case your parents are travelling, you can get it filled in and signed by them now and around first week of April you can arrange to deliver them. Some institutions accept these forms even now, but some refuse to do so saying to submit it in April.
I have worked in a company for 2.2 years starting from June 2012 to Aug 2014.I have closed the PF account and now I want to withdraw the amount. Kindly suggest
1) What would be my FY / PY?
2) What would be in section 16 & 17? Is it the total accumulated amount of PF balance? (including both employee & employers?)
kindly reply. Thank you.
Is the investment and interest earned by Senior Citizen Savings Scheme exempted from income ?
Sir,
I have few fd’s in bank from which i get interest of about 3,10,000 annually, and this is my total income. I invest 1,50,000 rs in my ppf account every year. I fill 15 g form to avoid tds deduction on my interest. I want to know that whether iam eligible to submit 15g or not, since my net taxable income is below tax limit (310000-150000= 1,60,000) , but my interest income aggregate is more than 2,50,000 as i read in your article. If I am not eligible to fill form 15ghen what is the procedure for taxation and refund of tds deducted as i was not aware about the rule of interest aggregate of 2,50,000
I have the same problem. Though my interest income exceeds taxable limit,as I have invested 1.5 L in tax saving scheme,my taxable income is below tax limit. Have been submitting girn 15 g all these years.Can I continue doing so? Please advise
Only just now I read the above article. I must say that it is very useful and I will definitely follow this site as often as possible.
Your explanation to each and every clause is very clear except for one which is point No. 18.
In point No. 18 it is asking for details of form 15G other than this form filed during the previous year, if any. (i) Total No. of Form 15G filed and (ii) Aggregate of amount of income for which Form No. 15G filed.
Can you explain whether
(01) I should only give details of Form 15G submitted to that particular company or bank (in case I have more than 1 FD) or
(02) Should I also give details of Form 15G submitted to – say – 10 – 12 companies and 2 – 3 banks with Aggregate amount?
Would be glad if you can clarify the above?
Thanks
S.R. BALASUBRAMANIAN
You ought to take part in a contest for one of the most useful sites on the internet.
I most certainly will recommend this blog!
For interest payer (Deductor) form 15G/15H(Consolidated) now is available in the income tax efiling site (https://incometaxindiaefiling.gov.in/e-Filing/Services/DownloadFormsLink.html) and after downloading the forms payer have to fill and than to upload the xml file to incometaxindiaefiling.gov.in after being logged in against your TAN. For logging in digital signature certificate is required which should be created earlier.
Sir last date to file return
Hello
Thanks for the insightful article. I quit my last job in Jun 2015 and applied for PF withdrawal. I got the PF amount in October. Since I had submitted Form 15G, there we no TDS.
I want to know is there any other tax I will have to pay on this amount ? Please let me know. Thanks.
Can Bemoney aware inform it’s readers what is the penalty or prosecution for giving Form 15-G/H every year knowing that the Interest Income Exceeds the Maximum Amount/Basic Exemption Which is not chargeable to Tax i.e Rs 2,50,000/- or Rs 3,00,000/- but in the end no Tax is payable because of Chapter VI-A Deductions under Section 80C,80D,80TTA or the Net Tax payable is less than Rs 10,000/- which has been paid before filing of return via self assessment tax or by way of advance tax if it exceeds Rs 10,000/- in 3 installments ?
When no tax is payable what is the purpose of TDS and then asking the Department to refund the same thereby creating a duplication of work for everybody+ensuring correct credit of taxes in form 26AS ?
Also many South Indian NBFC’s don’t accept Form 15H from Senior Citizens even though their Tax Payable is nil but it exceeds Rs 3,00,000 basic exemption limit. So they treat Form 15G/H in the same way.
Sir
I have worked in below 2 company
1) 2 year from 2013 jan to 2015 jan
2)8 months jan 2915 to aug 2015
From august I am jobless and wanted to withdraw my pf account
1)Do I need to apply separately in both the companies for PF withdrawal
2)Do i need to feel 15G form ,what do i need to declare in it
3)I have filled my IT return but now i am jobless
Is there any income tax related stuff that is gone to impact me
Sir,
i need to withdraw my epf amount of Rs.44000 including pension amount. For estimated income and estimated total income i need to be filled. how much it will be? Can u please clarify that
Dear Sir,
My question is regarding institutions other than Bank. My client has to deduct interest on unsecured loan taken.where the deductee will file Online 15G ? On Which Site?
Kndly reply. Thanks in Advance
Sir, I need your help for filling form 15G for withdrawal of EPF in context with the following fields:
Field 18: ‘Aggregate amount of income for which Form No. 15G filed’
In this, should I write the amount which is present in my EPF account which I wish to withdraw OR the same amount mentioned in field 17?
Field 19: ‘Nature of Income’: What should I write here?
Field 19: ‘Amount of Income’: EPF amount OR amount mentioned in field 17?
Please guide me to clear the above doubts, I would be grateful to you.
thanks a lot …. your resolved my problem
Thanks for getting back to us. It feels nice to know that we helped.
sir
my Gross total income is less than Rs.90000/ annually, and 4 fix deposit of Rs. 3,00,000/-(Rupees three lac only) + 1 RD Account currently with the bank. and interest on FDR approximate to be Rs.20,000/-yearly.
I have Income tax PAN.and i have not filed Income Tax return because my total income is Low.
I want please advise /help me for how many amount to be fill in the Column No. 16 & 17 in Form No.15G.
you are requested t please help me.
Field 16 means Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form.
So you have to say how much is your income for which you asking no TDS to be deducted.
For example if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year . So for you it will be Rs 20,000 as interest income on FD.
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made
So your income based on the details you have provided is: 90,000 + 20,000+ Interest on RD (which you can approximate). The total income should be less than 2.5 lakh.
Sir,
My mother wants to do 8lakes Fd.. she have income from agriculture land around 38000/- per year. now she want to avoid TDS from FD interest.. plzz tel me how to do that her age is 51(fifty one) ….
one more thing is it possible to do my yearly savings and FD interest of my mom and agriculture land income.. from all these sources yearly around 1.5lekas so i like to these amount fd on my mother name is right way to do
Hello Vija,
Its good that you are taking interest in your mother’s finances.And you want to know the right way to do it.
As your mother is 51 years old, her income till 2.5 lakh is tax free for this year.
Her income is: 38,000(Agricultural income, which is tax free) + Interest from FD.
You need to calculate interest on FD.
If you put FD for 8 lakh at 8% for a year you would get interest of 65945.73. If you add this total income then it is still below 2.5 lakh so its tax free.
But as interest is more than 10,000 Rs bank will deduct TDS. To avoid it fill Form 15G. No TDS will be deducted if you provide PAN.
Please get PAN for your mother,if she doesn’t have.
You if you are adult and your mother are separate in eyes of Income Tax. So your income will not be added to your mother’s income and vice-versa
Hi Team,
I am applying for my PF withdrawal and my employer has asked me to fill Form 15G, with great efforrt I am trying to complete this form. I have few queries to clarify.
1) None of the items are applicable to me under section 22, in that case should I leave everything blank?
2) What should I strike out (which is not applicable to me as individual declarant) in Declaration/Verification part?
Hi..!
Very much worth reading article.
My question here is, as of now I have not filed income tax returns as I am not under it. so, could you please inform me for field 15(a) that I can tick as “NO”?
Many thanks.
Yes if you have not filed Income tax return just tick No for 15(A)
Very much appreciated for response
We try to answer as many reader queries as possible.
Thanks for giving us the opportunity
Evn if we choose field no 15a as no,we need to fill field 16,17 and 19…in field 17 what is meant by total amt..do I need to add pf amt and salary earned during d year
Sir,
We came to know that financial institutions(deductor) have to submit Form15G/H once in quarter through electronic form from 01-10-2015 onwards.
But we would like to know what are the formats and to which website we have to submit form 15G/H and its procedure.
Synopsis of rule 29C that was introduced in Oct 2015.
1. Declaration in form 15G or 15H may be furnished by assessee to deductor
a. In paper form
b. Electronically after duly verifying through an electronic process in accordance with procedures, formats and standards to be specified by the principal director general of Income tax (Systems) for the purposes of furnishing and verification of the declaration to the income tax authority.
2. Deductor shall allot a unique identification number to each declaration received by him in Form 15G or 15H respectively during every quarter of the financial year in accordance with the procedure to be specified.
3. Deductor shall furnish the particulars of declaration received by him during any quarter of the financial year along with the unique identification number allotted by him in the statement of deduction of tax i.e. quarterly TDS returns of the said quarter.
4. Even if there is no tax deduction in the quarter deductor shall furnish statement of deduction of tax containing the particulars of declaration received in form 15G or 15H as the case may be.
5. Such declarations shall be kept for a period of seven years as an income tax authority may, before the end of seven years from the end of the financial year in which the declaration has been received, require the deductor to furnish or make available the declaration for the purposes of verification or any proceeding under the Act in accordance with the procedures, formats and standards specified by Principal Director General of Income-tax (Systems).
Have to say that the info which has been provided here is really very good & is certain to help many.
Having said that, I do have some queries which I have pasted below:
1. I believe 3 copies of form 15G needs to be submitted. Can you pls let me know if the Printout of each copy needs to be taken back to back or on separate pages.
2. With respect to point:17 – Estimated total income of the P.Y. in which income mentioned in column 16 to be included, while mentioning estimated total income of PY(2015-16), do we only need to mention the Total taxable income(after deducting the investments made in 80C etc) or we need to mention the Total income without any deductions. Also do we need to include the PF withdrawal amount(for which this 15G is filled) in the total income?
Once again, thanks a lot for providing all the info. Awaiting for responses for my queries.
Hi,
I moved to the US since 2013 and want to withdraw my PF from my ex-employer. I have not gone back to India since 2013. My ex-employer has asked me to fill form 15G. Based on the criteria you mentioned, I think I am a non-resident.
1. Do I still need to fill form 15G?
2. If yes, can I mention that I am a non-resident and in that case, will IT department deduct TDS for the interest income on the PF amount I want to withdraw?
Can you please help me answer these questions. Appreciate your help. Thanks!
Hi from ur blog, i understood im not eligible to fill form 15G as my income exceeds the exemption limit. But my pf withdrawal request is rejected saying form 15G has to be filled. why is it so?
Our apologies.
Many readers have faced this problem. EPFO is asking for 15G form even if one is withdrawing after working for 5 years.
So please fill the form 15G and submit your application.
Do keep us updated
how we file 15G online as my baker does not put any link to generate 15G.
further in which format ( In Word, Excel, XML, TXT etc..) i need to file 15G so that i could able to get UIN.
If banker does not provide a way to generate 15G then you have you fill it physically or offline.
Which bank do you use?
Wonderful..You have narrated in such a layman language,Thatit turned an Engineer almost a CA..
Thanks for elp..Great Job
hello sir,
i did job in one organisation from march 2010 to sep 2014.and in second organisation from sep 2014 to aug 2015.i withdrawal mine second pf around 25000. and i also applying for first one also but they told me to submitted for form 15g but i have query regarding the column 22,23 . at presently i am not working anywhere and i dont have any income in para I to V. so what ihave to mentioned in estimated income.
can I fill form 15G for post office Fd having annual interest more than 10,000.
Please assist me in filling Field 16, 17, and 19. I worked for 2.5 years from where I have to withdraw my PF. Now I am working as Project fellow in an Central Govt. Institute from past 1 year where there is no PF deduction from my fellowship money but it is taxable.
Field 16, Estimated income for which this declaration is made : Amount you are getting from PF withdrawal
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included : Total income of this year FY 2015-16 or AY 2016-17
Field 19. Details of income for which the declaration is filed,
Sl. No.: 1
Identification number of relevant investment/account, etc.: PF account number
Nature of income : Premature withdrawal from EPF
Section under which tax is deductible: 192A
Amount of income : Amount of PF
Thank you very much.
You are welcome
Sir,
I would like to know what details should i fill in the field 15, 16 and 17.
I have no salary from Oct 15 andfor no investment.
I filed ITR for FY 2013 -14 and for FY 2013-14 form 16 was not issued to me by the employer.
Field 15 (a) , Whether assessed to tax under the Income-tax Act, 1961. Yes or No, Check the appropriate Box. Mention Yes you have file ITR in any of last 6 years. So as you have last filed form in FY 2013-14 check the box i.e put tick sign on the box.
Field 15 (b), If yes, latest assessment year for which assessed , Mention the last Assessment Year, the year in which you filed Income Tax return. So as you have last filed form in FY 2013-14 , you need to put Assessment Year so it becomes AY 2014-15
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example if you have opened a Fixed Deposit and you don’t want TDS to be deducted on FD then mention interest on FD you will earn this year. – How much income will you get from the investment for which you don’t want TDS to be deducted. If it’s for PF withdrawal fill in PF amount.
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made. How much would be your total income in the current year. Total income includes income from salary, income from interest on FD, saving bank account(amount more than 10,000)
Thank u sir..
And field 4. Previous year ?
Field 4 , Previous Year: year in which you will earn your income for which you want to avoid
FY 2015-16 is called Previous Year if you are submitting form between 1 Apr 2015 to 31 Mar 2016.
Will it be possible to scan the form and send it to bemoneyaware@gmail.com . We will use it to keep the sample form. Your information would not be used.
I need to submit my pf withdrawal form….i left my job in september 2015…now m nt working….so I would like to know what would be the Assessment year, previous year Field 16, Estimated income for which this declaration is made….Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included..please help….as I am submitting the form in the month of April 2016 which is a new financial year
As you are submitting the form After 1 Apr 2016 PY will be 2016-17.
Field 17 is Estimated total income of the P.Y. in which income mentioned in column 16 to be included: So Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made.
Basically it means what is your total estimated income for this FY including the EPF withdrawal amount. So include interest from FD etc to estimate your total income this year.
You can see the filled 15G sample form
Hi
M going to submit the form 15g as per Epf requirment
My FD s r in SBI bank,but,I don’t want to fill from SBI.
I don’t have FDs with ICICI bank but still can I fillup the form from ICICI bank?If Yes;so plz suggest,
I can fill the details of policy in the form. And what tax should be fill I don’t have the idea plz reply me appropriately suggestions.
Regards
Dnyaneshwar-
I am new to all these income tax forms. I want to withdraw my PF. And as I have worked with my company for less that 5yrs, I have to submit form 15G. My income was near a taxable one. So I have not yet been assessed for tax. Now my question is at this particular time -Nov’15. Which is my PY, also please advise what is to be filled in col. 16, 17, 18, 19
Congrats on your financial journey. It’s not rocket science. Take it one step at time and soon you would learn enough to write a blog.
For any questions please don’t hesitate. For no questions are stupid only answers are.
Previous Year: year in which you will earn your income for which you want to avoid TDS.
Calendar year starts on January 1 and ends on December 31 but a Financial year (FY) is from April 1 to March 31. As per the Income Tax Act, income earned in a financial year (FY) is taxed in the next Financial Year. FY to which the income belongs is called the Previous year (PY) and the FY in which the income is taxed is called the Assessment year (AY). Ex:The income earned from 1st Apr 2015 to 31 mar 2016 ,during FY 2015-16 will be assessed for tax in the 2016-17. Here, FY 2015-16 is called Previous Year and FY 2016-17 is called Assessment Year or AY. So you have to fill in PY as 2015-16.
Field 16, Estimated income for which this declaration is made, Mention the estimated income for which you are filing the Form. For example if you filling for EPF withdrawal, amount you expect to get in EPF
Field 17, Estimated total income of the P.Y. in which income mentioned in column 16 to be included, : Your total income this year as per your estimate.
Field 18, Details of Form No. 15G other than this form filed during the previous year, if any, :If you have filled any other Form 15G/H. If not say 0/NA and NA
Field 19. Details of income for which the declaration is filed, Mention the distinctive number of shares, account number of term deposit, recurring deposit,
For EPF withdrawal
SL.NO Identification number Nature of Income Section Amount of Income
1 PF number EPF withdrawal 192A EPF Withdrawal amount
Good work
Very good guidance…helped a lot
Hi,
I would like to know what details should i fill in the estimated total income in form 15-G if i do not have any of the investments mentioned in schedule 1, 2, 3, 4 or 5.
Please clarify
The Income Tax Department has announced new forms and new procedure regarding Form 15G & Form 15H starting 1st October 2015. Key Changes are
You can read more about the new form 15G here
Just write -NA- ( Not applicable) that’s it.
Please assist me on which website do i need to fill and submit form 15H through online.
Also pl clarify on the following query
Iam salaried and have already paid tax and filled my returns for FY 2014-15.
and do not have any source of income other than my salary.
In that case do i need to fill part 22 and part 23 in the old form 15G?
Please use the new forms 15G/15H
You have to use 15G if you are less than 60 years .
If more than 60 years you have to use 15H
If you submit the form 15G/15H now you will not be requesting for TDS not to be deducted for FY 2015-16.
the best info article i have seen on the subject. thank u and keep up the good work. i have been searching for this info for 2 days on google, ur’s is the best and most succint, yet provides full info, without irritating ads popping up or asking us to subscribe to ur site etc.
i dont know why the writers of thes articles cant understand that they have a better chance of getting subscribers and recommendations on fb etc. if they write like u and dont repeatedly ask the readers to subscribe before each time u r about to reveal an important piece of info. congrats and thanks.
i do have a querry. i am filing the form15g for the first time as Karta HUF for a FD of 25lakhs, the interest will be som 93k. the only other source of income is agriculture amounting to som 7-8lakhs per annum.obviously i am eligible to file the 15g, but there is no means of conveying the fact that the nature of 7-8lakh income is agriculture. is there?
Hi,
I had recently filed for PF withdrawal and there are a few queries which I hope will be clarified. I have been working in a company for 3 yrs. Our company had started PF only last September and I quit my job in February this year. My PF amount is around Rs. 11,000, out of which the employer’s contribution is around 2k. I filed for pf withdrawal a couple of months ago and I received my forms back asking me to submit form 15g and PAN card copy. I am a housewife now. I do not own any shares or securities or mutual funds. I would like to know how the form should be filled. Also there are two versions of form 15g I have come across and am not sure which one is to be used. One version has schedule I to V while the other doesn’t have any of it. Please clarify.
New forms have been introduced from 1 Oct 2015. You can download the new forms , without Schedule 1-V , from income tax website, http://www.incometaxindia.gov.in/Pages/downloads/most-used-forms.aspx
Thank you. Would you be able to help in filling up the new form 15g?
What i do not understand is that why the EPF office insist that Form 15G / 15H must be filled and completed prior to processing claim for withdrawal. If the Form 15G / 15H is not filled and submitted it clearly indicates that the subscriber wants the TDS to be deducted at the applicable rate. If the subscriber does not submit the Form 15G / 15H they simply reject the withdrawal claim on that ground. Can the EPF Dept or someone please clarify why EPF Dept will not process a withdrawal request just because Form 15G / 15H is not submitted.
Valid point. If only common sense was so common 🙂
Sir,
It is a superb guide for senior citizens like me. Upto now we are by banks to sign form. 15H and give it to them. We are not aware what is filled by them.
Here is a an important point that I put, the senior citizens in acute hardship in their last retired life that first they pay tax by way of TDS on their needy investments, and then claim refund though they may not be required to pay tax on final assessment. For example if the an assessee having pension of 360000 and income of Rs100000 from other sources ( say bank interest ) and deductions under sec80C Rs150000.. His net taxable income comes to Rs310000. As the taxable income does not exceed 5,00,000 no tax is payable by him. Allowing TDS first and getting refund later which is not certain is a hell to tax payee. Please go through and advise us. And also please take up the issue in the proper platform.
With wishes
Krishnamurty.
Sir to avoid all this hassle only submission of FOrm 15G/15H is suggested
This is an absolutely superb guide that you have provided!
When I fill form 15H for my father I literally struggle while filling form in triplicate (3 copies).
This guide will surely help me a lot going forward.
Thanks a lot. Please do share your learnings and provide feedback!
HOW TO FILL UP 15H FOR FY 2016-17, PART I & PART II. PLEASE INFORM ME WITH EXAMPLE.