If you don’t have valid PAN details, your declaration will be treated as invalid. The following are the fields you need to fill out in the first segment of Form 15G:įield (1) Name of the Assessee (Declarant) – Name as mentioned on your PAN Cardįield (2) PAN of the Assessee: Valid PAN card is mandatory to file Form 15G. The first part is meant for individuals who want to claim no-deduction of TDS on certain incomes. Below the option, ‘I want to apply for’, click on Upload form 15G as depicted in the imageįorm 15G has two sections.Verify the last 4 digits of your bank account.Click on the ONLINE SERVICES option – Claim (Form 31, 19, 10C).
#Form 15g in word format how to#
Now that you have an idea about the TDS rules that are applicable to EPF and also what is Form 15G or 15H, let’s move on and understand the process of how to fill Form 15G for online EPF withdrawal. When the TDS is not Applicable?ġ) When one transfers their EPF account to another account.Ģ) Termination of service happened due to ill-health of the employee, discontinuation of business by an employer, completion of a project or other cause beyond the control of an employee.ģ) If an employee withdraws the EPF amount after a total of 5 years of service (Including the service with a former employer).Ĥ) If the EPF amount is less than Rs.50, 000, but the employee has rendered service of below 5 years.ĥ) In case the employee withdraws more than or equal to Rs.50, 000, with the employment of fewer than 5 years, but submits Form 15G/15H along with PAN Card. In case, the employee wishes to withdraw his/her EPF amount which is more than or equal to Rs.50, 000 with less than 5 years of service.ġ) TDS is deducted at 10% if an employee submits the PAN Card (But 15G form for EPF/15H is not submitted).Ģ) TDS will be deducted at the rate of 34.608% if an employee fails to submit the PAN Card. One can also use Form 15H to fulfill the TDS exemption, the only difference is Form 15G is for those who are below 60 years of age, whereas, Form 15H is for those whose age is more than 60 years. In Budget 2016, the limit was further raised to Rs.50,000. Earlier the limit of such TDS was for capped at more than Rs.30,000 and above withdrawal amount. According to section 192A of the Finance Act, 2015, EPF withdrawal will attract TDS (Tax Deducted at Source) if the amount of withdrawal is more than Rs.50, 000 and you worked for less than 5 years. Moreover, you also have the facility to submit form 15G online on the website of most major banks of India.īefore knowing how to submit the form 15G, let us first understand the rules related to TDS with respect to EPF withdrawal. Additionally, this form can also be easily downloaded from the Income Tax Department website.
#Form 15g in word format for free#
Where to Get Form 15G?įorm 15G can be easily found and downloaded for free from the website of all major banks in India as well as the official EPFO portal. Also, you can avoid TDS, which is a great benefit. Recently, EPFO Unified portal launched a facility to submit EPF Form 15G for PF which allows the EPF members to withdraw PF online. As per the income tax rules, it’s mandatory for banks to deduct tax at source (TDS) in case the interest earned on your fixed deposit, recurring deposit, etc.
Form 15G is a declaration that can be filled out by fixed deposit holders (individuals less than 60 years of age and HUFs) to ensure that no TDS (tax deduction at source) is deducted from their interest income in a year.