Form 15H/G: Your path to a Tax Exemption zone!

1-minute read

Forms 15G and 15H help individuals avoid TDS deduction from their interest income, provided they meet specific requirements.

Difference between 15G and 15H:

Resident individuals In India
(Form 15G)

Individuals < 60 years (not working in a company or firm)

≤ ₹3 lakh (≤ ₹2.5 lakh as per the old tax regime)

Must not exceed the basic exemption limit

Senior residents in India
(Form 15H)

Senior citizens (age 60 and above)

≤ ₹7 lakh after rebate under section 87A

No specific limit

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APRIL 2024 | VOL. 35