You must ensure your tax liability is calculated to be zero on the total taxable income for the financial year.Be a resident of India for the applicable financial year.Fill out the form as an individual (other than a company or firm that you are associated with).To fill out EPF Form 15G or Form 15G for PF withdrawal, you must meet the following eligibility criteria: If the form is not submitted in time, the TDS will get deducted, and one needs to submit reimbursement under Income Tax filing to get this amount reimbursed by the Income Tax Department.Įligibility Criteria for Submitting Form 15G To avail of the benefits, the declaration Form 15G has to be submitted before the end of the first quarter o the financial year since TDS is deducted during each quarter.For any individual over the age of 60 years, they will have to fill out Form 15H. Form 15G can be submitted by individuals only who are under the age of 60 years.The Central Board of Direct Taxes introduced the current format of Form 15G and Form 15H.The structure of Form 15G has undergone considerable change since 2015 to ease the compliance burden and make it easy for both tax deductors and tax filers.The rules for self-declaration forms are mentioned under the provisions of Section 194A of the Income Tax Act, 1961.Form 15G is a self-declaration form that an individual or HUF can fill out to seek non-deduction of TDS on specific income if the annual income of the assessee is less than the exception limit.This enables EPF members to withdraw their PF online and avoid TDS deductions on their investments. In keeping with this rule, the Employees’ Provident Fund Organization (EPFO) united portal launched a facility to submit Employee Provident Fund (EPF) Form 15G for PF online. Form 15G is to be filled out by fixed deposit holders (who can be individuals under the age of 60 years or Hindu Undivided Family) to ensure that no TDS (Tax Deduction at Source) is subtracted from the interest income in a year.Īs per recent income tax regulations, it is mandatory for all banks and financial institutions to deduct tax at sources for any interest earned on financial instruments like fixed deposits (FD), recurring deposits, provident funds, or others. Have you or someone from your immediate family invested in a fixed deposit, provident funds, or similar financial investment schemes? If yes, Form 15G is something you should know of.

Form15g download