Form 15G & 15H — How to Save TDS on FD Interest (2026)

When your Fixed Deposit (FD) interest exceeds a threshold, the bank automatically deducts 10% TDS (Tax Deducted at Source). If your total income is below the taxable limit, this TDS is money you didn't need to lose. Form 15G (below 60) and Form 15H (60+) are self-declaration forms that stop this unnecessary TDS deduction.

TDS on FD Interest — When Does Bank Deduct?

Example: If your FD interest from SBI is ₹60,000 in a year, SBI will deduct ₹6,000 as TDS (10%) from your interest payout. Even if you have zero tax liability, this deduction happens automatically unless you submit 15G/15H.

Form 15G — Who Should Submit

Form 15G is for individuals below 60 years of age (and Hindu Undivided Families):

New Tax Regime exemption limit: ₹4,00,000 (before rebate) Old Tax Regime exemption limit: ₹2,50,000

Key point: If your total income including FD interest exceeds ₹12,00,000 (new regime), you have tax liability — you CANNOT submit 15G.

Form 15H — Who Should Submit

Form 15H is for senior citizens (age 60 and above):

Form 15H is more generous than 15G — even if your income exceeds the basic exemption limit, if your total tax (after deductions) is nil, you can submit 15H.

Example: A senior citizen with ₹7,00,000 income (pension + FD interest) but claiming deductions that bring tax to zero → eligible for 15H.

When to Submit Forms 15G / 15H

Important: Forms must be submitted before TDS is deducted. Banks deduct TDS quarterly (June, September, December, March). Submit by April or immediately when you open a new FD.

How to Submit Form 15G / 15H Online

SBI (State Bank of India) — Online via YONO / Net Banking

1. Login to SBI Net Banking (onlinesbi.sbi)
2. e-Services → Submit Form 15G/15H
3. Select financial year + enter PAN
4. Select FD accounts for which 15G/15H applies
5. Confirm declaration → Submit
6. Download acknowledgement

Or via YONO App: YONO → Services → Submit Form 15G/15H

HDFC Bank — Online

1. Login to HDFC Net Banking (netbanking.hdfcbank.com)
2. Requests → 15G/15H Form
3. Select the deposit accounts
4. Verify PAN + confirm income details
5. Submit → Acknowledgement generated

ICICI Bank — Online

1. Login to ICICI Net Banking (icicibank.com)
2. Service Requests → Tax Deduction → Form 15G/15H
3. Select applicable deposit accounts
4. Submit the self-declaration

Axis Bank — Online

1. Login to Axis Mobile Banking or Net Banking
2. Service Requests → Tax Forms → Form 15G/15H
3. Enter details + submit

Kotak Bank — Online

1. Login to Kotak Net Banking
2. Account Services → 15G/15H Submission

Post Office / Offline (All banks):

• Download Form 15G or 15H from the income tax portal or bank website
• Fill in manually: Name, PAN, address, income estimate, financial year
• Submit 2 copies to the bank branch
• Bank keeps one copy, returns one with stamp

Information You Need to Fill in Form 15G / 15H

What Happens After Submission

1. Bank registers your 15G/15H in their system
2. No TDS is deducted on interest from the specified FDs
3. Bank submits details to Income Tax Department quarterly
4. Form 26AS will show 15G/15H details (ensures IT dept knows)
5. You must still declare the FD interest income in your ITR

Important: Submitting 15G/15H does NOT exempt you from paying tax if your income is taxable. It only stops TDS at source. You must include FD interest as income in your ITR and pay tax if applicable.

Penalty for False Declaration

Submitting Form 15G or 15H when your income exceeds the taxable limit is a criminal offense under Section 277 of the Income Tax Act:

• Fine + imprisonment up to 7 years for wilful false declaration
• Always ensure you genuinely qualify before submitting

Frequently Asked Questions

Can I submit Form 15G if I have income from salary + FD? Only if your TOTAL income (salary + FD interest + all sources) is below the taxable threshold. If your salary alone exceeds the exemption limit, you are NOT eligible to submit 15G even if FD interest is small.

I forgot to submit 15G at the start of the year — TDS was already deducted. What to do? Submit Form 15G now — it prevents further TDS deductions in the same year. For TDS already deducted, file your ITR and claim it as refund. The deducted TDS will be reflected in Form 26AS and refunded after ITR processing.

Is Form 15H valid for SCSS (Senior Citizen Savings Scheme) at post office? Yes — submit Form 15H at the post office for SCSS accounts too. SCSS interest above ₹50,000 per year attracts TDS; Form 15H stops this if your tax liability is nil.

My FD is spread across multiple banks — do I submit 15G at each bank? Yes — Form 15G/15H must be submitted separately at EACH bank where you have FDs. Each bank independently deducts TDS only on interest from their own FDs. TDS threshold (₹40,000/₹50,000) applies per bank per year.

Does Form 15G need to be submitted physically or is online submission valid? Online submission via your bank's net banking or mobile app is fully valid — the bank registers it digitally and submits to the IT department. Physical submission is an alternative if you don't use net banking.

Form 15H for Senior Citizen — what income limit qualifies? Unlike 15G (which has a strict income ceiling), Form 15H only requires that your estimated tax for the year = NIL. So even if your income exceeds the basic exemption limit, if deductions/rebates bring your tax to zero, you qualify for 15H.