Form 15H is a declaration that eligible senior citizens can submit to a bank or other payer to request that TDS not be deducted from qualifying interest income when their estimated tax liability for the year is nil.
There is an important update for taxpayers in 2026: Form 15H is the old form under the Income-tax Act, 1961. For tax years beginning on or after 1 April 2026, the corresponding declaration is now made through Form 121 under the Income-tax Act, 2025.
So, if you are searching for “Form 15H” for the 2026-27 tax year, you should not simply download the old Form 15H. You need to use the new Form 121 prescribed under the Income-tax Rules, 2026.
Who could submit Form 15H?
Under the earlier rules, Form 15H was meant for a resident individual who was 60 years or older and wanted to receive specified income without TDS. The Income Tax Department specifically lists Form 15H for resident individuals aged 60 years or more.
For FD interest, the basic requirements were:
- You must be a resident individual.
- You must be 60 years or older during the relevant previous year.
- You must expect your tax liability for the year to be nil.
- You must submit the declaration to the bank or other payer responsible for the interest payment.
Section 197A of the Income-tax Act, 1961 provided for non-deduction of TDS when an eligible senior citizen furnished the prescribed declaration stating that tax on their estimated total income would be nil.
Who cannot use Form 15H?
Form 15H was not a general form that any person could submit simply because their FD interest was below the TDS threshold.
For example, a person below 60 could not use Form 15H. The corresponding form under the old framework was Form 15G, subject to its own eligibility conditions.
Also, being a senior citizen alone is not enough. The declaration requires you to state that your estimated tax liability for the relevant year will be nil.
When should Form 15H be submitted?
The practical rule was to submit the declaration before the first interest payment for the year became due, so the bank could take it into account before deducting TDS.
The Income Tax Department’s historical guidance states that where payments are made more than once during a year by the same payer, one declaration could be furnished before the first payment became due.
For example, if your bank pays FD interest periodically during the year, do not wait until the end of the year after TDS has already been deducted. Submit the declaration to the bank in advance.
What if TDS has already been deducted?
Submitting Form 15H is intended to prevent TDS where the eligibility conditions are satisfied. If the bank has already deducted TDS, submitting the form later does not automatically reverse the tax already deducted.
You may instead have to claim the TDS as tax credit when filing your income-tax return and receive a refund if you are entitled to one.
Form 15H and FD interest: an example
Suppose a 65-year-old resident individual has several fixed deposits with a bank.
The person estimates their total income for the year and concludes that their tax liability will be nil.
Under the old Form 15H framework, they could submit Form 15H to the bank requesting that TDS not be deducted from qualifying interest.
The important point is that the calculation is not simply “my FD interest is below X, so I can submit Form 15H.”
The person has to consider their estimated total income and resulting tax liability.
Is Form 15H still used in 2026?
This is where many older articles are now outdated.
For tax years beginning on or after 1 April 2026, Form 15G and Form 15H have been replaced by a single Form 121.
The Income Tax Department says that Form 121 is the prescribed declaration under the Income-tax Act, 2025 for receiving specified income without deduction of TDS. The new form combines the earlier Form 15G and Form 15H framework.
The eligibility distinction has not disappeared. The Income Tax Department states that the earlier eligibility criteria continue under the new framework: Form 15H was for resident individuals aged 60 or more, while Form 15G applied to eligible persons below 60 and certain other taxpayers.
So the terminology is changing, but the underlying concept remains familiar.
| Tax period | Declaration |
|---|---|
| Tax periods governed by the Income-tax Act, 1961 | Form 15H for eligible senior citizens |
| Tax year beginning on or after 1 April 2026 | Form 121 |
The transition is based on when the relevant payment or credit occurs. The Income Tax Department says that TDS provisions under the old Act apply when the earlier of payment or credit occurs on or before 31 March 2026; payments or credits on or after 1 April 2026 fall under the new Act.
Does Form 15H mean your FD interest is tax-free?
No.
This is one of the most important points to understand.
Form 15H is a TDS declaration, not an exemption from income tax.
If you are eligible and submit the declaration, the bank may not deduct TDS on the relevant interest. But the interest itself can still form part of your taxable income.
If your final tax calculation shows that tax is payable, you remain responsible for paying the tax.
In other words:
No TDS ≠ no tax.
TDS is simply tax collected at source. Your actual income-tax liability is determined when your total income and applicable deductions, exemptions, rebates and tax rates are considered.
What about the FD interest TDS limit for senior citizens?
For bank, post office and cooperative-bank interest, the Income Tax Department currently states that under the old framework, TDS under Section 194A was not deducted when interest paid or credited to a senior citizen by the relevant bank, post office or cooperative bank did not exceed ₹50,000 in a year with that bank.
This is separate from Form 15H.
That distinction matters because:
- TDS threshold determines when the bank is required to deduct TDS.
- Form 15H/Form 121 is a declaration used by an eligible taxpayer to seek non-deduction where the conditions for the declaration are satisfied.
Do not treat ₹50,000 as the amount of FD interest that automatically makes someone eligible to submit the declaration.
Form 15H vs TDS threshold
Consider these as two different questions:
Question 1: Is the bank required to deduct TDS on the interest?
This depends on the applicable TDS rules and thresholds.
Question 2: Can I submit a declaration asking the bank not to deduct TDS?
This depends on whether you satisfy the conditions for the relevant declaration.
The two rules should not be mixed together.
What should a senior citizen do before submitting the declaration?
Before submitting the old Form 15H—or the new Form 121 for tax years beginning from 1 April 2026—estimate your total income for the year, not just your FD interest.
Include relevant income such as:
- FD interest
- Savings-account interest
- Pension
- Rent
- Other taxable interest
- Other taxable income applicable to your situation
Then work out whether your estimated tax liability is actually nil.
This prevents a common mistake: submitting the declaration merely because the person is 60+ or because their FD interest is relatively small.
Bottom line
Form 15H was the declaration used by eligible resident senior citizens aged 60 or above to request non-deduction of TDS on specified income, including interest, when their estimated tax liability for the year was nil.
It should be submitted to the bank or other relevant payer before the first applicable payment or credit, rather than waiting until after TDS has already been deducted.
But there is a major 2026 change:
For tax years beginning on or after 1 April 2026, Form 15H has been replaced by Form 121. The new form combines the earlier 15G and 15H declaration framework under the Income-tax Act, 2025.
And remember: submitting the declaration prevents or reduces TDS; it does not by itself make the FD interest tax-free.
