What is Form 15G used for?

Form 15G is primarily used to prevent TDS on income sources, like interest on deposits and PF withdrawals.

For how long are Form 15G and Form 15H valid?

Both forms are valid for one financial year only and must be submitted again every year.

Is it mandatory to have a PAN to submit Form 15G or Form 15H?

Yes, providing a valid PAN is compulsory. Without PAN, TDS may be deducted at a higher rate.

Will submitting Form 15G/Form 15H make my interest income tax-free?

No, it only prevents TDS deductions. If your income is taxable, you must pay tax accordingly.

Can I submit Form 15G/15H if I have taxable income?

No, these forms are only for those whose total income is below the taxable limit.

Do I need to submit Form 15G/Form 15H at every bank branch?

No, submission at one branch of the bank or institution should be enough, as records are usually centralised.

Should NRIs submit Form 15G/Form 15H?

No, these forms are meant exclusively for resident Indian citizens as per the Income Tax Act.

Pay Premium

Track application

Ask an Expert

Guardian of Life Dreams Term Plan

Offers Life cover for Whole Life or for Limited Term for age 85 years
A special 16% Level Premium Discount for women
Health Management Services worth Up to ₹75,000 p.a.
Choice of Pure Protection or Return of Premium optionKnow More

Download Brochure

Elite Term Plan

Lifetime protection till age 99 years
High cover at affordable cost
Convenient premium payment options
Sum Assured as lumpsum or monthly instalments

Download Brochure One Pager

Super Protection Plan

Option to get your money back (Return of Premium- ROP)
Flexibility to pay premiums at your convenience
Lifetime protection till age 99 years
Sum Assured as lumpsum or monthly instalments

Download Brochure

Life Plan

Flexibility to choose the duration
Family will receive the payout
Flexibility to choose the assured amount
Long term protection

Download Brochure

Protect Shield Plus Plan

Instant Issuance
Flat rate cover
No medicals
Tax benefits as per prevailing tax laws

Download Brochure

Saral Jeevan Bima Plan

Life Insurance Cover of up to ₹50 lakhs.
Flexible premium payment options
Up to 40 years of protection for loved ones.
Protection against COVID-19 with lump sum benefit.

Download Brochure

Value Shield Plus

Flexible Premium Payments Options
Life cover for Whole of Life
Special discounts for Salaried customer and Female Lives
Enhanced coverage with optional comprehensive riders

Download Brochure

Term Rider Plan

Additional Life Cover for up to 5-30 years
Guaranteed Lumpsum Death Benefit
Enjoy Tax Benefits on Premiums You Invest.

Download Brochure

Guardian of Life Dreams Term Plan

Offers Life cover for Whole Life or for Limited Term for age 85 years
A special 16% Level Premium Discount for women
Health Management Services worth Up to ₹75,000 p.a.
Choice of Pure Protection or Return of Premium option

Download Brochure

Elite Term Plan

Benefits at Maturity & Life cover
High cover at affordable cost
Convenient premium payment options
Sum Assured as lumpsum or monthly instalments

Download Brochure

Super Protection Plan

Option to get your money back (Return of Premium- ROP)
Flexibility to pay premiums at your convenience
Lifetime protection till age 99 years
Sum Assured as lumpsum or monthly instalments

Download Brochure

Life Plan

Flexibility to choose the duration
Family will receive the payout
Flexibility to choose the assured amount
Long term protection

Download Brochure

Protect Shield Plus Plan

Flexibility to choose the duration
Family will receive the payout
Flexibility to choose the assured amount
Long term protection

Download Brochure

Saral Jeevan Bima Plan

Life Insurance Cover of up to ₹50 lakhs.
Flexible premium payment options
Up to 40 years of protection for loved ones.
Protection against COVID-19 with lump sum benefit.

Download Brochure

Value Shield Plus

Flexible Premium Payments Options
Life cover for Whole of Life
Special discounts for Salaried customer and Female Lives
Enhanced coverage with optional comprehensive riders

Download Brochure

Radiance Smart Invest Plan

Zero Fund allocation charges
10 different funds to choose from
3 plan options to achieve your investment goals
100% Premium invested to Maximize Fund Value

Download Brochure

Money Balance Plan

Optimised Investment Strategy
Flexible-Premium Payment
Partial Withdrawal Flexibility
Convenient Fund Accessibility

Download Brochure

TULIP Plus Plan

Up to 100x life insurance cover
Up to 750%* return of Premium Allocation charges
Riders designed to cover additional risks
Reduced premium allocation charge for higher premiums

Download Brochure

TULIP Pro Plan

Up to 20X Life Cover for Your Loved Ones
Additional Coverage through TERM Rider
Multiple Investment Strategies and up to 10 Diversified Funds
Up to 600% of Premium Allocation Charges returned at Maturity

Download Brochure

Wealth Maximizer Plan

Market Linked Returns
Free switches for maximum gain
Long-term loyalty benefits
Add top-up premiums

Download Brochure

Long Guaranteed Income Plan

Short-Term Payments, Long-Term Gains
Guaranteed Income to fulfill Financial Goals
Lifetime Income Till 99 years of age
Continuous Life Cover without any interruption

Download Brochure

Guarantee Of Life Dreams Plan

Choice of 3 income Options
UpTo 5% Extra Income on Online Purchase
Enhanced Income Benefit for Women
Option to Choose the date to receive a regular income.

Download Brochure

Growth of Life Dreams Plus Plan

Start income as early as the 1st policy month or defer it up to 10 years
(GPB) Policy benefits continue for your nominee even in your absence
Choose long-term income or whole-life income
Flexibility to choose Life cover option up to 11x

Download Brochure

Assured Income For Milestones Plan

Guaranteed long-term income plan
Ideal for milestone-based financial planning
Three customizable benefit options
Immediate or deferred income variants

Download Brochure

Guaranteed Single Premium Plan

One-time payment (Single Pay)
Tax saving benefits*
Life Cover that is 1.25 times higher

Download Brochure

Mahajeevan Plus Plan

Life cover of up to 15 or 20 years
Periodic Cash backs
Uninterrupted Life Cover
Money Back Discounts with Early Premium Payments

Download Brochure

Smart Retirement Plan

Market-linked returns, with 3 new funds!
2 plan options to secure your retirement
ZERO allocation or administration charges.
Guaranteed Additions* of up to 5% in Year 1

Download Brochure

Guaranteed Pension Plan

Income for Life
5 Annuity Choices
Joint Life Security
Escalating Annuity option

Download Brochure

Guaranteed Annuity Plan

Retirement Planning
12 Annuity Options
Exclusive benefits for NPS subscribers
Continuity with Joint Life Option

Download Brochure

Guaranteed Retirement Plan

Assured Returns
Beat Inflation
Choose How to Save
Save Longer for up to 40 years

Download Brochure

Unit-Linked Pension Plan (ULPP)

Zero Charges Plan
You Pay 100. We Invest 105
Market-Linked Growth
Flexible Premium Options

Guarantee Of Life Dreams Plan

Choice of 3 income Options
UpTo 5% Extra Income on Online Purchase
Enhanced Income Benefit for Women
Option to Choose the date to receive a regular income.

Download Brochure

Life Long Guaranteed Income Plan

Short-Term Payments, Long-Term Gains
Guaranteed Income to fulfill Financial Goals
Lifetime Income Till 99 years of age
Premium Payback Assurance

Download Brochure

Assured Income For Milestones Plan

Guaranteed long-term income plan
Ideal for milestone-based financial planning
Three customizable benefit options
Immediate or deferred income variants

Download Brochure

Guaranteed Single Premium Plan

One-time payment (Single Pay)
Tax saving benefits*
Life Cover that is 1.25 times higher

Download Brochure

Term Rider Plan (non-linked)

Additional Life Cover for up to 5-30 years
Guaranteed Lumpsum Death Benefit
Enjoy Tax Benefits on Premiums You Invest.

Download Brochure

Term Rider (linked)

Additional Life Cover for up to 5-67 years
Lump sum death benefit equal to the sum assured
Enjoy Tax Benefits on Premiums You Invest.

Download Brochure

Waiver of Premium Rider (non-linked)

3 Coverage Options
Guaranteed Financial Protection For Your Loved Ones
Policy Remains Effective in Your Absence (WOP)
10 Critical Illness Cover

Download Brochure

ADB Rider (non-linked)

Up to 2 Cr. Additional cover
Protect your loved ones at affordable price.
Tax Advantages

Download Brochure

ADB Rider (linked)

Up to 2 Cr. Additional cover over existing policy
Protect your loved ones at affordable price.
Tax Advantages

Download Brochure

TPD Rider (non-linked)

Up to 1 Cr. Additional cover
Protect your loved ones at affordable price.
Tax Advantages

Download Brochure

TPD Rider (linked)

Up to 1 Cr. Additional cover
Protect your loved ones at affordable price.
Tax Advantages

Download Brochure

Group Living Benefits Plan

Comprehensive Group Health Insurance
Affordable Heatlh Coverage for Corporate
COVID-19 Protection for Group Life Insurance
Fixed Benefit Assurance

Download Brochure

Group Term Plan

Affordable Group Term Insurance
Voluntary or Automatic Enrollment
Enhanced Coverage with EDLI
Flexible Premium Payment

Download Brochure

New Corporate Benefit Plan

A separate plan for each scheme
Minimum guaranteed return of 0.5% p.a.
Yearly Bonus as per company’s performance
Earn easy returns

Employee Benefit Plan

Manage your future employee liabilities
Choose from 4 fund options
Tax free gratuity up to 20 lakh

Group Credit Protect Plan

Affordable Life Cover
5 benefit options
2 Cover options
Truncated Cover

Little Champ Plan

Financial Protection
Customisable Policy
Guaranteed Payouts
Flexible Coverage Options

Download Brochure

Term Insurance Calculator

Use our Term Insurance Calculator to estimate the right cover for your family’s financial security.

Child Plan Calculator

Plan your child’s education and future goals with our easy Child Plan Calculator.

Retirement Planning Calculator

Estimate how much you need to save for a comfortable and stress-free retirement.

Cost of Delay Calculator

See how delaying investments can impact your long-term wealth creation.

Human Life Value Calculator

Calculate your Human Life Value and understand the insurance cover your family needs.

Paid-Up Calculator

Check the paid-up value of your policy and make informed financial decisions.

Annuity Calculator

Estimate your regular income after retirement using our Annuity Calculator.

ULIP Calculator

Estimate potential returns on your ULIP investments over the policy term.

Compound Interest Calculator

Understand how your money grows over time with the power of compounding.

Future Wealth Creation Calculator

Plan your investments effectively to achieve your long-term wealth goals.

SIP Calculator

Calculate returns on your monthly SIP investments in just a few clicks.

Lumpsum Calculator

Calculate your estimated returns on your lumpsum investment

Step-up SIP Calculator

See how increasing your SIP each year boosts your wealth. Use our Step-Up SIP Calculator for smarter financial planning

SWP Calculator

Check how much monthly income your investment can generate and how long your corpus can last.

Income Tax Calculator

Calculate your tax liability and plan your taxes efficiently.

Home Loan EMI Calculator

Calculate your home loan EMIs and manage repayments with ease.

Car Loan EMI Calculator

Find out your car loan EMI and choose the right repayment plan.

Personal Loan EMI Calculator

Estimate your personal loan EMIs before applying for a loan.

Inflation Calculator

Understand how inflation will affect your expenses and future goals

Gratuity Calculator

Calculate the gratuity amount you may receive based on your tenure and salary.

Salary Calculator

Calculate your take-home salary after deductions and allowances.

BMI Calculator

Check your Body Mass Index and understand your health better.

Nominee Central

Your one-stop hub to help your loved ones easily access, understand, and manage everything related to life insurance nomination and claims.

Life Insurance Ki Kitaab

Your simple, go-to guide for understanding life insurance basics.

India's Firsts

Discover India’s pioneering innovations and historic milestones that shaped the world.

Life+ Newsletter

Your monthly dose of simple, smart insights on insurance and money matters—delivered straight to your inbox.

Insurance Videos

Quick, easy videos that help you understand insurance better.

Insurance Podcasts

Listen to expert insights that simplify insurance on the go.

: Protect Your Family

: Build Wealth

: Plan Your Retirement

No results for

Check that your search query has been entered correctly or try another search.

Ask an Expert to Buy Life Insurance

We're happy to know that you're prioritizing your family's future. Our life insurance expert will assist you in finding the best insurance plan. To schedule a call, please share some of the below details.

Enter Name

Enter Mobile

Enter E-mail

What’s your gender?

Male

Female

Other

Form 15G & 15H in 2026: Key Changes, Form 121 Replacement & How to Submit

Q: What is the difference between Form 15G and Form 15H?

Form 15G is for individuals below 60 years, while Form 15H is specifically for senior citizens aged 60 or above.

Indiafirst Life
• 26 Jun, 2026

View Tax-Saving Plans

Calculate Premium

Important Update for FY 2026-27: Form 121 Replaces Forms 15G and 15H
Why Are Form 15G and Form 15H Needed?
Form 15G vs Form 15H vs Form 121 – Key Differences
Who Should Submit Form 15G vs Form 15H?
Features of Form 15G & 15H
Eligibility Criteria for Submitting Form 15G and Form 15H
Can You Submit Form 15G?
Can You Submit Form 15H?
TDS Sections Where Form 15G or 15H Can Be Used
Benefits of Submitting Form 15G and Form 15H
Important Tax Planning Consideration
When Should You Submit Form 15G and Form 15H?
Where Can You Submit Form 15G or Form 15H Apart From Banks?
How to Submit Form 15G, Form 15H and Form 121 Online in 2026
Checking the Status of Your Form Submission
Illustrations: Understanding Form 15G, Form 15H and Form 121
Key Points to Remember While Filing Form 15G and Form 15H
Forgetting to Submit Form 15G and Form 15H
FAQs

Key Takeaways

Form 15G and Form 15H are self-declaration forms that help eligible taxpayers avoid unnecessary TDS deductions when their final tax liability is expected to be nil.
A major update for FY 2026-27 is the introduction of Form 121, which is intended to serve as a consolidated replacement for Forms 15G and 15H, simplifying the declaration process.
Eligibility for Form 15G and Form 15H depends on factors such as age, residential status, total income, and tax liability, while taxpayers must ensure accurate declarations to remain compliant with income tax regulations.
These forms can be used for various income sources, including fixed deposit interest, recurring deposit interest, post office deposits, and eligible EPF withdrawals through Form 15G for PF withdrawal or EPF Form 15G submissions.
Timely submission of Form 15G, Form 15H, or Form 121 can improve cash flow by preventing excess TDS deductions, reducing the need for refunds through ITR filing, and simplifying overall tax compliance.

In India, Form 15G and Form 15H are self-declaration forms submitted to prevent tax deduction at source (TDS) on income earned, primarily through interest. Both forms are designed to help individuals, especially those not liable to pay income tax, avoid unnecessary deductions on their earnings. However, they cater to slightly different audiences and purposes.

Here, we look at the purpose and function of these forms, who can use them, and how.

Important Update for FY 2026-27: Form 121 Replaces Forms 15G and 15H

Starting FY 2026-27, the Income Tax Department has introduced Form 121 as a consolidated replacement for Forms 15G and 15H. The new form aims to simplify the self-declaration process for taxpayers seeking exemption from Tax Deducted at Source (TDS) on eligible income.

Previously, taxpayers had to determine whether Form 15G or Form 15H applied to them based on age and eligibility conditions. With the introduction of Form 121, the declaration process is expected to become more streamlined while continuing to serve the same purpose of preventing unnecessary TDS deductions where no tax liability exists.

Taxpayers who previously relied on Form 15G, Form 15H, or the combined 15G 15H Form process should stay updated with the latest compliance requirements and submission procedures applicable for FY 2026-27.

Why Are Form 15G and Form 15H Needed?

The Indian Income Tax Act of 1961 mandates TDS on certain incomes such as bank interest, fixed deposit interest, and other earnings above a specified threshold. For individuals whose total income is below the taxable limit, the deduction of TDS can be an unnecessary burden. It can create a need for refunds through the ITR filing process. Submitting Form 15G or Form 15H while filing ITR ensures that the payer does not deduct TDS, thereby simplifying the process for eligible individuals.

Form 15G vs Form 15H vs Form 121 – Key Differences

Knowing the differences between the two forms is essential to understand what form will suit your financial situation:

Criteria	Form 15G	Form 15H	Form 121
Eligible Users	Resident individuals below 60 years	Resident senior citizens aged 60 years or above	Intended consolidated declaration form
Purpose	Prevent TDS where tax liability is nil	Prevent TDS where tax liability is nil	Unified declaration mechanism
Age Restriction	Below 60 years	60 years and above	Not age-specific
Common Use Cases	FD interest, RD interest, EPF withdrawal	FD interest, pension income, deposit interest	Expected to replace both forms
Applicability	FY 2025-26 and earlier	FY 2025-26 and earlier	FY 2026-27 onwards

As taxpayers transition to the new framework, understanding the differences between form 15G, form 15H, and Form 121 can help avoid errors while submitting declarations to banks and financial institutions.

Who Should Submit Form 15G vs Form 15H?

Choosing the correct declaration form depends primarily on age and tax liability.

Situation	Appropriate Form
Resident individual below 60 years with nil tax liability	Form 15G
Resident senior citizen aged 60 years or above with nil tax liability	Form 15H
Taxpayer filing declarations under the new FY 2026-27 framework	Form 121 (where applicable)
NRI taxpayer	Neither Form 15G nor Form 15H
Individual with taxable income	Cannot submit these forms

Before submitting any declaration, taxpayers should ensure that their total tax liability for the financial year is nil. Incorrect declarations may attract penalties under the Income Tax Act.

📅[Calculate Your Income Tax]

Features of Form 15G & 15H

Go through the following features to understand the suitability of the forms for different individuals and situations:

Features of Form 15G

i. Eligibility: Primarily for individuals below 60 years of age, trusts, and Hindu Undivided Families (HUFs).

ii. Tax Exemption: Applicable when the total income, including interest, is below the taxable limit, according to the tax slab.

iii. Uses: Commonly used to avoid TDS on fixed deposit interest, life insurance policy payouts, and other incomes.

iv. Relevance for PF Withdrawals: Submitting Form 15G for PF withdrawal prevents TDS if the withdrawal is within the non-taxable limit.

Features of Form 15H

i. Eligibility: Exclusively for senior citizens aged 60 and above.

ii. Ease of Use: Simplifies tax compliance for senior citizens with income below the taxable threshold.

iii. Applicability: Often used to avoid TDS on fixed deposit interest, recurring deposits, and pension incomes.

Eligibility Criteria for Submitting Form 15G and Form 15H

To submit these two forms:

You must be a resident of India.
Your total income (including interest earnings) must not exceed the basic exemption limit.
For Form 15G, you must be under 60 years of age, while Form 15H is only for senior citizens.

Example: Determining Eligibility to Submit Form 15G and Form 15H

Let’s understand Form 15G through an example. Suppose a 45-year-old individual is earning ₹2,40,000 annually, with ₹20,000 from FD interest. Since their total income is below the exemption limit, they can file Form 15G.

Form 15H is meant for senior citizens. Here is how one may find use for it. For a 65-year-old earning ₹3,00,000 annually from pension and ₹40,000 from FD interest, it may be useful. If the total income is non-taxable, they can submit Form 15H.

Can You Submit Form 15G?

You can submit Form 15G if you are a resident Indian below 60 years of age and your total taxable income for the financial year is below the basic exemption limit. Under the old tax regime, this limit is ₹2.5 lakh, and under the new regime for FY 2025–26, it is ₹4 lakh. Also, your total tax liability for the year must be nil.

Note: A valid PAN is compulsory.

Can You Submit Form 15H?

Form 15H can be submitted by resident senior citizens aged 60 years or above. You are eligible if your final tax liability for the financial year is zero after considering deductions and rebates. Even if your interest income is high, you may still submit Form 15H as long as no tax is payable. However, you must have a valid PAN and should submit the form at each bank where you earn interest.

TDS Sections Where Form 15G or 15H Can Be Used

Forms 15G and 15H are commonly used to prevent TDS deductions on specific income streams where the taxpayer's final tax liability is expected to be nil.

These forms are generally used for:

Interest earned on fixed deposits
Interest earned on recurring deposits
Interest on savings deposits
Interest from corporate bonds
Certain insurance proceeds
EPF withdrawals in eligible situations
Post Office deposits
Pension-related interest income

Many taxpayers use form 15G for PF withdrawal and EPF form 15G submissions to avoid TDS deductions when withdrawing provident fund balances, subject to applicable eligibility conditions.

The availability of these forms depends on prevailing income tax provisions and eligibility requirements.

Benefits of Submitting Form 15G and Form 15H

Submitting Form 15G or Form 15H can help taxpayers avoid unnecessary TDS deductions and improve cash flow throughout the year.

Some key benefits include:

Prevents excess tax deduction on eligible income.
Reduces the need to claim refunds through ITR filing.
Simplifies tax compliance for retirees and low-income taxpayers.
Ensures access to the full amount of interest income during the year.
Minimises delays associated with refund processing.

For senior citizens and retirees who rely heavily on deposit interest income, timely submission of these forms can significantly improve financial planning.

Important Tax Planning Consideration

Under Section 10(10D), life insurance maturity proceeds may be tax-exempt if the annual premium does not exceed 10% of the sum assured for policies issued after April 1, 2012.

Individuals planning their long-term tax strategy should review both TDS-saving declarations and tax-efficient investment options.

When Should You Submit Form 15G and Form 15H?

These forms should ideally be submitted at the beginning of the financial year to ensure TDS is not deducted on interest payments throughout the year.

Steps To Take upon Missing the Form Submission Deadline

Step 1. Submit Form 15G or 15H as Soon as Possible

You can still submit the forms later in the financial year, although deductions already made will not be reversed.

Step 2. File Income Tax Returns

If TDS is deducted, claim a refund by filing your income tax return using an income tax calculator to determine your total taxable income.

Filling Form 15G

Part A: Contains personal details, including PAN, address, and estimated income.
Part B: Declaration of income details and justification for no TDS deduction.

Here is what you need to know about filling out this form.

i. Provide your correct PAN details
ii. Mention the nature and amount of income
iii. Ensure accuracy in your calculations to avoid rejection

Filling Form 15H

Part A: Similar to Form 15G, with sections for PAN, address, and estimated income.
Part B: Declaration of income sources and estimated tax liability.

Here are some key tips that senior citizens can follow when filling out this form.

i. Double-check your age eligibility (60 years and above)
ii. Use precise calculations for interest income and other earnings

Where to Submit Form 15G and Form 15H

You may submit these forms to:

Banks and financial institutions where you earn interest income.
Employers or institutions deducting TDS on eligible income sources such as PF withdrawals or life insurance policy payouts.

Where Can You Submit Form 15G or Form 15H Apart From Banks?

Although banks are the most common institutions where taxpayers submit form 15G and form 15H, these declarations can also be submitted to other entities responsible for deducting TDS on eligible income.

Some common places where the 15G H form may be submitted include:

Employees' Provident Fund Organisation (EPFO)

Individuals making eligible provident fund withdrawals may submit form 15G for PF withdrawal to avoid TDS if their total taxable income remains below the applicable exemption limit.

This is particularly relevant for:

EPF form 15G submissions
Early PF withdrawals
Withdrawals before completing the prescribed service period

Post Offices

Taxpayers earning interest from post office deposit schemes can submit Form 15G or Form 15H to prevent TDS deductions where permitted under tax rules.

Corporate Bond Issuers

Interest earned from corporate bonds may attract TDS if the applicable threshold is crossed. Eligible investors can submit the appropriate declaration form to the issuer.

Insurance Companies

In certain situations involving taxable insurance payouts, eligible taxpayers may be required to submit self-declaration forms to avoid unnecessary TDS deductions.

Companies Paying Certain Interest Income

Non-banking financial companies and other institutions that deduct TDS on interest payments may also accept Form 15G or Form 15H from eligible individuals.

Regardless of where the declaration is submitted, taxpayers should ensure that the information provided is accurate and reflects their expected income and tax liability for the financial year.

How to Submit Form 15G, Form 15H and Form 121 Online in 2026

Most banks and financial institutions now allow taxpayers to submit declarations digitally, eliminating the need for physical paperwork.

Step 1: Log in to Your Bank Portal

Access your internet banking account or mobile banking application.

Step 2: Locate the Tax Services Section

Most banks provide a dedicated area labelled:

Tax Services
TDS Services
Form 15G / Form 15H Submission
Tax Declaration

Step 3: Select the Appropriate Form

Choose:

Form 15G
Form 15H
Form 121 (where available)

Step 4: Enter Required Information

Provide:

PAN details
Estimated annual income
Interest income details
Declaration regarding tax liability

Step 5: Review and Submit

Verify the information carefully before submission.

Step 6: Save the Acknowledgement

Keep a copy of the acknowledgement number or confirmation message for future reference.

Taxpayers should ideally submit declarations at the beginning of the financial year to ensure that TDS is not deducted throughout the year.

Checking the Status of Your Form Submission

After submission, track the status through:

Your bank's online portal
Periodic updates sent to your registered email or mobile number
Tax filing software to confirm no TDS is deducted

Illustrations: Understanding Form 15G, Form 15H and Form 121

Illustration 1: Form 15G for Fixed Deposit Interest

Rohan is 35 years old and earns ₹2.8 lakh annually. He also earns ₹35,000 as interest from fixed deposits.

Since his total taxable income remains below the applicable exemption limit and his final tax liability is nil, he may submit form 15G to prevent TDS deduction on his FD interest.

Illustration 2: Form 15H for Senior Citizens

Meena is 68 years old and receives pension income of ₹3 lakh per year. She also earns ₹70,000 as fixed deposit interest.

After considering available deductions and rebates, her tax liability is nil. Therefore, she may submit form 15H to prevent TDS on interest income.

Illustration 3: Form 15G for PF Withdrawal

Arjun resigns from his job and withdraws his EPF balance before completing the prescribed service period.

His total annual income remains below the taxable threshold. In this situation, he may submit form 15G for PF withdrawal to avoid TDS deduction, subject to EPFO rules and eligibility requirements.

This is one of the most common use cases for EPF form 15G submissions.

Illustration 4: Form 121 Under the New Framework

A taxpayer eligible to make a self-declaration under the FY 2026-27 rules may be required to submit Form 121 instead of separately evaluating Form 15G and Form 15H requirements.

The exact submission process may vary depending on implementation guidelines issued by banks and financial institutions.

Key Points to Remember While Filing Form 15G and Form 15H

Keep in mind the following points before you start filling in these tax forms:

Ensure accurate and honest declarations to avoid penalties.
Always provide your valid PAN; failing to do so can attract a higher TDS rate.
Double-check eligibility criteria for each form.
Retain a copy of the submitted forms for your records.

Forgetting to Submit Form 15G and Form 15H

Since Form 15G and Form 15H are valid only for one financial year, they must be submitted every year. If you forget to submit them at the beginning of the year, your bank or institution may deduct TDS on your interest income.

If this happens, do not panic.

Submit the form immediately to stop further TDS deductions for the remaining part of the year. However, the TDS already deducted cannot usually be reversed by the bank.
Check your Form 26AS or AIS on the Income Tax portal to confirm how much TDS has been deducted. When filing your Income Tax Return (ITR), you can claim this deducted amount as a refund if your total taxable income is below the exemption limit.

In some cases, if the form is submitted shortly after deduction, the bank may consider adjusting it, depending on its policy. To avoid such issues in the future, set a reminder to submit Form 15G or 15H at the start of every financial year.

Form 15G and Form 15H are valuable tools for individuals and senior citizens to prevent unnecessary TDS deductions, especially on interest income. Proper understanding and timely submission of these forms can save taxpayers from the hassle of refunds while ensuring compliance with tax regulations.

Form 15G for FD, EPF and RD: Common Use Cases

Many taxpayers associate Form 15G primarily with fixed deposits, but its usage extends to several income sources.

Form 15G for Fixed Deposits

Banks may deduct TDS if interest earned on fixed deposits crosses the prescribed threshold. Eligible individuals can submit Form 15G to avoid such deductions.

Form 15G for Recurring Deposits

Interest earned on recurring deposits may also attract TDS under certain circumstances. Submitting Form 15G helps prevent unnecessary deductions where the taxpayer has no tax liability.

Form 15G for PF Withdrawal

One of the most searched applications of Form 15G is provident fund withdrawal.

Eligible taxpayers often use:

form 15G for PF
form 15G for PF withdrawal
EPF form 15G

to avoid TDS when withdrawing EPF balances, provided they satisfy the applicable conditions under EPF and income tax rules.

FAQs

Is Form 15G replaced by Form 121?

Starting FY 2026-27, Form 121 has been introduced as a consolidated replacement for Forms 15G and 15H. Taxpayers should review the latest guidelines issued by financial institutions regarding its implementation and usage.

What is the difference between Form 15G and Form 121?

Form 15G is traditionally used by resident individuals below 60 years of age who have no tax liability. Form 121 is intended to function as a consolidated declaration mechanism, reducing the need for separate forms based on age categories.

Who should submit Form 15G in 2026?

Resident individuals below 60 years of age whose total tax liability is nil may continue to submit Form 15G where applicable. However, taxpayers should verify whether Form 121 has been adopted by their bank or financial institution.

Can I still use Form 15H in FY 2026-27?

The availability of Form 15H depends on the implementation of Form 121 by the concerned institution. Taxpayers should check the latest submission requirements before filing declarations.

Can Form 15G be used for FD interest?

Yes. Eligible taxpayers can submit Form 15G to prevent TDS deductions on fixed deposit interest if their total taxable income remains below the applicable threshold and their tax liability is nil.

Can Form 15G be submitted for EPF withdrawal?

Yes. Eligible individuals may submit form 15G for PF withdrawal to avoid TDS on EPF withdrawals, subject to EPFO rules and income tax provisions.

Can Form 15G be used for recurring deposits?

Yes. Where TDS is applicable on recurring deposit interest, eligible taxpayers can submit Form 15G to prevent unnecessary deductions.

Form 15G & 15H in 2026: Key Changes, Form 121 Replacement & How to Submit

Important Update for FY 2026-27: Form 121 Replaces Forms 15G and 15H

Why Are Form 15G and Form 15H Needed?

Form 15G vs Form 15H vs Form 121 – Key Differences

Who Should Submit Form 15G vs Form 15H?

Features of Form 15G & 15H

Eligibility Criteria for Submitting Form 15G and Form 15H

Can You Submit Form 15G?

Can You Submit Form 15H?

TDS Sections Where Form 15G or 15H Can Be Used

Benefits of Submitting Form 15G and Form 15H

Important Tax Planning Consideration

When Should You Submit Form 15G and Form 15H?

Where Can You Submit Form 15G or Form 15H Apart From Banks?

How to Submit Form 15G, Form 15H and Form 121 Online in 2026

Checking the Status of Your Form Submission

Illustrations: Understanding Form 15G, Form 15H and Form 121

Key Points to Remember While Filing Form 15G and Form 15H

Forgetting to Submit Form 15G and Form 15H

FAQs

Our Life Insurance Plans

Term insurance

ULIP – Unit-Linked Insurance Plan

Child Education Plan

Retirement And Pension Plans

Savings Plan

Related Blogs

Explore our calculators to plan for your financial goals

Most Searched Terms

Form 15G & 15H in 2026: Key Changes, Form 121 Replacement & How to Submit

Important Update for FY 2026-27: Form 121 Replaces Forms 15G and 15H

Why Are Form 15G and Form 15H Needed?

Form 15G vs Form 15H vs Form 121 – Key Differences

Who Should Submit Form 15G vs Form 15H?

Features of Form 15G & 15H

Eligibility Criteria for Submitting Form 15G and Form 15H

Can You Submit Form 15G?

Can You Submit Form 15H?

TDS Sections Where Form 15G or 15H Can Be Used

Benefits of Submitting Form 15G and Form 15H

Important Tax Planning Consideration

When Should You Submit Form 15G and Form 15H?

Where Can You Submit Form 15G or Form 15H Apart From Banks?

How to Submit Form 15G, Form 15H and Form 121 Online in 2026

Checking the Status of Your Form Submission

Illustrations: Understanding Form 15G, Form 15H and Form 121

Key Points to Remember While Filing Form 15G and Form 15H

Forgetting to Submit Form 15G and Form 15H

FAQs

Related Articles

Key Takeaways

Important Update for FY 2026-27: Form 121 Replaces Forms 15G and 15H

Why Are Form 15G and Form 15H Needed?

Form 15G vs Form 15H vs Form 121 – Key Differences

Who Should Submit Form 15G vs Form 15H?

Features of Form 15G & 15H

Features of Form 15G

Features of Form 15H

Eligibility Criteria for Submitting Form 15G and Form 15H

Example: Determining Eligibility to Submit Form 15G and Form 15H

Can You Submit Form 15G?

Can You Submit Form 15H?

TDS Sections Where Form 15G or 15H Can Be Used

Benefits of Submitting Form 15G and Form 15H

Important Tax Planning Consideration

When Should You Submit Form 15G and Form 15H?

Steps To Take upon Missing the Form Submission Deadline

Step 1. Submit Form 15G or 15H as Soon as Possible

Step 2. File Income Tax Returns

Filling Form 15G

Filling Form 15H

Where to Submit Form 15G and Form 15H

Where Can You Submit Form 15G or Form 15H Apart From Banks?

Employees' Provident Fund Organisation (EPFO)

Post Offices

Corporate Bond Issuers

Insurance Companies

Companies Paying Certain Interest Income

How to Submit Form 15G, Form 15H and Form 121 Online in 2026

Step 1: Log in to Your Bank Portal

Step 2: Locate the Tax Services Section

Step 3: Select the Appropriate Form

Step 4: Enter Required Information

Step 5: Review and Submit

Step 6: Save the Acknowledgement

Checking the Status of Your Form Submission

Illustrations: Understanding Form 15G, Form 15H and Form 121

Illustration 1: Form 15G for Fixed Deposit Interest

Illustration 2: Form 15H for Senior Citizens

Illustration 3: Form 15G for PF Withdrawal

Illustration 4: Form 121 Under the New Framework

Key Points to Remember While Filing Form 15G and Form 15H

Forgetting to Submit Form 15G and Form 15H

Form 15G for FD, EPF and RD: Common Use Cases

Form 15G for Fixed Deposits

Form 15G for Recurring Deposits

Form 15G for PF Withdrawal

FAQs

Is Form 15G replaced by Form 121?

What is the difference between Form 15G and Form 121?

Who should submit Form 15G in 2026?

Can I still use Form 15H in FY 2026-27?

Can Form 15G be used for FD interest?

Can Form 15G be submitted for EPF withdrawal?

Can Form 15G be used for recurring deposits?

Get in touch with an expert

Our Life Insurance Plans

Term insurance

ULIP – Unit-Linked Insurance Plan