How to Download Form 15G?

Taxation

How to Download Form 15G?

In India, Form-15G is commonly used by individuals looking to claim tax exemption. It helps eligible persons avoid Tax Deducted at Source (TDS) and is meant for those below the age of 60. Non-senior citizens, such as students and working professionals, frequently use this form. If you are wondering how to download Form 15G, this blog post will serve as a guide for you!

What is Form 15G?

Form 15G is a declaration you can submit if your total income is below the taxable limit. It is not just useful for withdrawing your Provident Fund (PF), you can also use it to avoid tax on interest earned from things like fixed deposits (FDs) and recurring deposits (RDs). In short, if you’re withdrawing your PF and your income is below the tax slab, submitting Form-15G can help you avoid TDS (Tax Deducted at Source) on those earnings.

That said, if your EPF amount is less than Rs. 50,000, you generally don’t need to submit this form. The same applies to FDs and RDs as well. But if the amount you are withdrawing is over Rs. 50,000, then TDS will be applied to it and the remaining amount will be credited to you once the tax is deducted as per Section 192A of the Income Tax Act.

So, when you fill out and submit Form 15G for PF, you are just declaring that your total income, including any interest from your EPF, is below the taxable limit. One important thing to note is if you are a senior citizen (over 60 years of age), you will need to submit Form 15H instead of Form-15G. So, wherever we have mentioned Form-15G, just use the 15H Form if you fall into that age category.

Form 15G Download Process

You can conduct PF Form 15G download for free via official Income Tax Department website. To know how, just follow the simple steps we have explained below:

Step 1: Visit the official website of the Income Tax Department.

Step 2: Once you are on the homepage, navigate to the “Tax Laws & Rules” tab and then, select the “Income Tax Forms” option visible under the tab.

Step 3: Now, scroll down the page and look for Form-15G for PF withdrawal download option in PDF and fillable form. Click on click.

Step 4: After you complete all the steps, Form 15G PDF will be downloaded successfully.

Note: You can also download 15G Form via websites of major banks in India and the official EPFO portal.

How to Fill 15G Form Details?

Once you are done with Form 15G form download, you can start filling it with all the necessary details. This form has two parts i.e., part 1 and part 2. You are required to fill part 1 only. Here are the details you need to fill in the form:

(i) Whether assessed to tax under the Income-tax Act, 1961: Choose “Yes” if you have filed an income tax return in any of the recent years.

(ii) If yes, the latest assessment year for which assessed: Mention the most recent assessment year in which your income tax return was processed.

Process to File Form 15G for PF Withdrawal

You can file your duly completed/filled Form-15G for PF withdrawal online. Here are the necessary steps you need to fulfill to file this form: 

Step 1: Visit the official website of EPFO India.

Step 2: On the homepage, click on the “Services” tab and then on “For Employees” option.

Step 3: On the next page, scroll down and search for the “Member UAN/Online Service (OCS/OTCP)” option and click on it.

Step 4: Afterwards, you will be redirected to EPFO UAN Portal. On this portal, you must login with the help of your UAN No.

Step 5: Once you have successfully logged in, select “Online Services”. After that, select the “Claim” option.

Step 6: Now, enter your bank details before proceeding to click on “Verify”.

Step 7: Finally, click on the “Upload Form-15G” option to upload your form successfully.

Conclusion

If you want to save on TDS deductions during PF withdrawal, you must download Form-15G and then file it correctly. You can download this form via official Income Tax Department website, major bank portals or the EPFO website. Once this form has been downloaded and filled properly, you can upload it online for the completion of the submission process and ensure smooth withdrawal without tax deduction. 

Need assistance in Income Tax Return filing? Connect with Registrationwala’s tax consultants for assistance.

Related post

Subscribe to our newsletter