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15G, 15H - Eligibility, Criteria

Kushal Pande (CFO) (256 Points)

02 August 2017

For 15G/H eligibility, what conditions are to be met?

For example:

1) 15G possible?
Age < 60 yrs
Income from fixed deposits = 2.49 lac
Income from savings interest = 1.6 lac
80C + 80TTA deductions = 1.6 lac

2) 15H possible?
Age > 60 < 80 yrs
Income from fixed deposits = 2.99 lac
Income from savings interest = 1.6 lac
80C + 80TTA deductions = 1.6 lac

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4 Replies

(Guest)

15h given for not to deduct tds but if basic exempt limit cross tds has to deduct

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Kushal Pande (CFO) (256 Points)
Replied 03 August 2017

Originally posted by : samir
	15h given for not to deduct tds but if basic exempt limit cross tds has to deduct

Correct but not correct for 15H!

In 15H crossing the basic/minimum exemption limit does not apply. For 15H, the only condition that needs to be fulfilled is that the Tax calculated on the Total Income would be nil.

Total Income is calculated after deductions (80C/80TTA/etc.) availed under chapter VI A.

Up to this point it's clear.

Then comes the part where it says Tax calculated on the Total Income should be nil.

So, does it mean Total Tax (inclusive of Cess, Interest) after Rebate u/s 87A and Relief u/s 89(1) should be nil ?

Reference:

A) Common Conditions for 15G/H:

You are an Individual or HUF
You must be a Resident Indian.

B) Conditions for 15G:

You should be less than 60 years old
Tax calculated on your Total Income is nil
The total interest income for the year is less than the minimum exemption limit of that year, which is Rs 2,50,000 for FY 2016-17 or FY 2017-18.

C) Conditions for 15H:

You are 60 years old or will be 60 years old during the year for which you are submitting the form
Tax calculated on your Total Income is nil.

Source: https://cleartax.in/s/form-15g-and-15h-to-save-tds-on-interest-income

Kushal Pande (CFO) (256 Points)
Replied 03 August 2017

Can anyone please shed some light on this:

So, does it mean Total Tax (inclusive of Cess, Interest) after Rebate u/s 87A and Relief u/s 89(1) should be nil for 15G/H ?

OR, even better:

Does it mean Total Tax (inclusive of Cess, Interest) after Rebate u/s 87A, Relief u/s 89(1), TDS adjustments (if any), Deduction of paid Self Assessment Tax should be nil for 15G/H ?

Kushal Pande (CFO) (256 Points)
Replied 03 August 2017

From Form 15H
	I further declare that the tax on my estimated total income including income/incomes referred to in column 15 and aggregate amount of *income/incomes referred to in column 17 computed in accordance with the provisions of the Income-tax Act, 1961, for the previous year ending on .................... relevant to the assessment year ..................will be nil.

What is meant by "the tax" on estimated total income will be nil?

Does it mean Total Tax (including Cess and Interest) liability after:
Rebate u/s 87A (if applicable),
Relief u/s 89(1) (if applicable),
TDS adjustments (if any),
Deduction of Self Assessment Tax paid (if applicable)

will be nil?