Submit Form 15G 15H Online new simplified procedure

form 15g

The CBDT has given very good news today. Now onwards tax payer can submit Form 15G 15H Online also. This step will reduce the unnecessary burden for both tax payer and tax deductor. You must be aware that Form 15G and 15H are forms submitted by a person whose income is below the taxable threshold. This form is for claiming exemption from TDS on interest income.

As per current procedure, you need to submit physical signed copy of form 15G and 15H but from Oct 1, 2015, onwards you can submit form 15 and 15H online.

New Simplified Procedure to Submit Form 15G 15H online

  • Under the new simplified procedure, a payee can submit this form of self-declaration either in paper form or electronically.
  • The deductor will not deduct any tax. New Unique Identification Number (UIN) will be allocated to all these declarations for tracking.
  • Detail about where to file this form 15G and 15H will be declared separately.
  • Information about this self-declaration needs to be furnished by deductor along with UIN in the quarterly TDS statements.
  • The requirement of submitting a physical copy of Form 15G and 15H by the deductor to the income-tax authorities has been waived off.
  • The deductor will however, be required to retain Form No.15G and 15H for seven years.
  • This new procedure come into force on the 1st day of October 2015

New System Form 15G and 15H Online – Benefits

  1. You need not submit the physical copy of 15G or 15H.
  2. Easy submission of form 15G or 15H anytime anywhere Online.
  3. Tracking of 15G and 15H self-declaration will be very easy due to an introduction of UIN.
  4. Data gathered in soft format will help government to analyze the correctness of the information given by payer.
  5. The new system will help tax deductor they need to submit the physical copy or 15G and 15H.
  6. This is one step towards Digital India Initiative.

You can read CBDT Notification from here.

Download New form 15G 15H

Article by Raviraj

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3 Comments

  1. Jayaraman says:

    This year, SBI is refusing to accept Form 15H (or even issue it) saying my pension has crossed Rs. 3 lakhs, even though my TAXABLE Income is less than Rs. 2 lakhs. In their Netbanking website, they seem to have implemented Online submission of Form 15H, which is the subject matter of this post. On that link, it says at the bottom, in the last paragraph:

    “The person responsible for paying the income referred to in column 16 of Part I shall not accept the declaration where the amount of income of the nature referred to in sub-section(1) or sub-section(1A) of section 197A or the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the previous year in which such income is to be included exceeds the maximum amount which is not chargeable to tax. For deciding the eligibility, he is required to verify income or the aggregate amount of incomes, as the case may be, reported by the declarant in columns 16 and 18.”

    Is SBI’s interpretation correct, or is it against section 197A(1) and section 197A(1A) of the Income-tax Act, 1961? Please help!

    • Yes as income before deduction is more than exemption limit, individual are not allowed to file 15G/15H form. As in your case your income is reaching above 3 Lakh bank is not accepting form 15H. Bank will deduct TDS and you need to claim refund by filing ITR.

  2. T V RAO says:

    You have not mentioned as to how to file online. I am sure that you have not tried it even. The depositor can submit online provided the banker created a link on their individual banks Internet Banking. SBI is the first to do it. Other banks are still in their slumber. The CBDT may consider submission of 15G/H directly on ITD eportal on logging and the ITD can intimate to the banks based on the PAN number. There will be no depositor who do not have PAN and still have the income exceeding Rs.10000 exceeding which TDS is attracted. This will leave no deposit(or) is exempted without 15g/h

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