For Chartered Accountants handling tax compliance, Form 15H often becomes a crucial part of advisory for senior citizen clients. This declaration form allows individuals aged 60 or above to request non-deduction of TDS (Tax Deducted at Source) on income such as bank deposits, interest, or other specified sources—provided their total income is below the taxable limit.

Unlike Form 15G (for individuals below 60), Form 15H is designed exclusively for senior citizens. Incorrect filing or failure to submit this form can lead to unnecessary TDS deductions, refund delays, and compliance issues.

Who Can File Form 15H?

As a CA, you should verify eligibility before advising clients to submit the declaration:

• Resident status: Only resident individuals can file Form 15H.

• Age requirement: Must be 60 years or above at any time during the relevant financial year.

• Taxable income: Estimated total income should be below the basic exemption limit (currently ₹3 lakh for senior citizens, ₹5 lakh if eligible for rebate under Section 87A).

When is Form 15H Applicable?

Form 15H is commonly used by senior citizens to avoid unnecessary TDS deductions on:

• Bank Fixed Deposits and Recurring Deposits

• Corporate Deposits or Bonds

• Post Office Deposits

• Rental Income (specific cases where TDS applies)

CAs should ensure clients file the form at the beginning of the financial year to prevent automatic TDS on interest payouts.

Key Details Required in Form 15H

To prepare and submit the form correctly, you’ll need:

• Name, PAN, and address of the declarant

• Date of birth (for age proof)

• Estimated total income for the year

• Details of income sources where TDS could be deducted

• Declaration confirming income is below the taxable limit

Banks and institutions now insist on PAN linkage with deposits—failure to quote PAN makes the declaration invalid.

How Chartered Accountants Can Guide Clients

1. Assess Eligibility Proactively
   Review your client’s projected income at the start of each year to confirm whether Form 15H can be filed.

2. Prevent Refund Delays
   Senior citizens often rely heavily on monthly interest income. Filing Form 15H upfront avoids TDS cuts and the long wait for refunds.

3. Ensure Correct Filing Mode
   Most banks and institutions accept online Form 15H submissions through net banking or branch visits. A CA’s role is to ensure completeness and timely filing.

4. Record-Keeping & Audit Trail
   Institutions are required to submit details of Form 15H declarations to the Income Tax Department in Form 15H quarterly statements. CAs should advise clients to keep acknowledgments safely for audit purposes.

Penalties & Misuse Risks

Advising ineligible clients to submit Form 15H can expose them to penalties under Section 277 for false declarations. As a CA, due diligence is essential—cross-check client income sources, especially interest income from multiple banks.