If I submitted 15G/15H, do I still report the interest?

Yes. Form 15G/15H only stops the bank deducting TDS. The interest is still income — you must report it in your return and pay tax if your slab requires it.

Form 15G and 15H: avoiding TDS on interest

When you can submit Form 15G (under 60) or 15H (senior) to your bank so it does not deduct TDS on interest — and why you still must report the interest.

5 min read · 2026-06-12

What 15G and 15H do

If your total income is below the taxable limit, you can ask your bank not to deduct [TDS](/glossary/tds-schedule) on interest by submitting:

Form 15H — if you are a senior citizen (60+)
Form 15G — if you are under 60 and eligible

These are self-declarations that your income is below the taxable threshold.

The catch most people miss

15G/15H stop the deduction — they do not make the interest tax-free. The interest still appears in your AIS and must be reported under other sources.

What you should do

Submit 15G/15H only if your total income is genuinely below the limit
Still report all interest in your return — check it against AIS
Seniors: also look at the 80TTB deduction on interest
If TDS was wrongly deducted, claim it via the TDS schedule
Reconcile everything in LastMinute ITR before the portal

Common mistake

Submitting 15G/15H when income is actually taxable. A wrong declaration can attract penalties. Only use it when you are sure income is below the limit.

Related guides

Reconcile interest income with LastMinute — file on incometax.gov.in.