Form 15H
A self-declaration form for senior citizens (60+) to prevent TDS deduction on FD interest when their estimated tax liability is nil.
Form 15H is the senior citizen equivalent of Form 15G, with one crucial difference: while Form 15G requires total income to be below the basic exemption limit, Form 15H only requires that estimated tax liability for the year be nil. This is a more relaxed condition. A senior citizen can have income above the exemption limit but still have zero tax liability after deductions (like Section 80TTB's ₹50,000 interest income deduction, Section 80C, standard deduction, etc.). For example, a 65-year-old with ₹4,50,000 in FD interest and ₹50,000 pension can have nil tax liability under the old regime after 80TTB and other deductions, making them eligible for Form 15H. Like Form 15G, it must be submitted each financial year at every bank separately. Submitting a false declaration carries legal penalties.