Form 15G, Declaration to Avoid TDS on Interest
Self-declaration by a resident individual below 60 to avoid TDS on interest income, when total income is below the taxable limit.
Who files it
Individuals (below 60) and HUFs whose estimated total income for the year is below the basic exemption limit.
Frequency
Annual, submitted at the start of each financial year or when opening a new deposit
Due date
Before the first interest credit of the financial year, ideally
Filed with
Submitted to the bank or institution paying the interest, which reports it to the department.
Form 15G is a declaration, not proof, that your income will stay below the taxable threshold for the year. Submitting it when your actual income turns out to be above the limit does not create a legal problem by itself, but it does mean you will owe tax on that interest when you file your return, since no TDS was deducted upfront.
It needs to be submitted separately to each bank or institution paying interest, and typically needs to be renewed every financial year rather than staying valid indefinitely.
This is a quick-reference summary, not a filing walkthrough. Due dates shown are the statutory defaults and can be extended in practice; applicability depends on your specific registration, turnover, and entity type. For general informational purposes only, not professional tax or legal advice.