Meaning
This form allows eligible senior citizens to avoid Tax Deducted at Source (TDS) on certain incomes.
Definition and Purpose
Form 15H is a self-declaration for Indian residents, age 60+, to request no TDS deduction on incomes like interest. Its purpose is for individuals whose total estimated income is below the tax-exempt limit for the financial year.
Eligibility Criteria
You must be:
- An Indian resident, 60 or older.
- Have estimated total income below the tax-exempt limit.
How It Functions
Eligible senior citizens submit Form 15H to their income payers (e.g., banks). This prevents TDS from being deducted.
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