What is form 15g? And how to fill form 15g for pf withdrawal?
Form 15G is a declaration form required to be filled by individuals to claim exemption from Tax Deducted at Source (TDS) on interest earned on certain investments. If you are withdrawing your Provident Fund (PF) and want to avoid TDS on the interest earned on your PF balance, you can fill out Form 15G. Here is a step-by-step guide on how to fill out Form 15G for PF withdrawal:
Download form 15G
- Download Form 15G: You can download Form 15G from the Income Tax Department website or get a copy from your bank or post office.
- Personal Information: Begin by filling out your personal information at the top of the form, including your name, PAN (Permanent Account Number), and address.
- Status of the Assessee: In this section, you need to mention your status, which can be any of the following:
- Individual (resident)
- Hindu Undivided Family (HUF)
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Previous Year: In this section, you need to mention the previous year for which you are submitting the form. if you are submitting the form in 2023, the previous year would be 2022-23.
- Residential Status: Indian Resident, if you are an Indian National and currently residing in India.
- Points 6 to 12: Mention your complete address as per your Adhaar Card.
13. Email ID: mention your email ID
14. Telephone No.: Mention your Aadhar Card-linked mobile number in this box.
15 (a) Whether assessed to tax under the Income-tax Act, 19615: Tick Yes
(b) If yes, latest assessment year for which assessed: in this field mention the latest assessment year you filed ITR for.
16. Estimated income for which this declaration is made: in this section, mention your estimated income for which the declaration is made.
17. Estimated total income of the P.Y. in which income mentioned in column 16 to be included: This section requires you to fill in your estimated income for the previous financial year, which ended on 31st March. If you did not have any income in the previous year, you can write zero.
18. . Details of Form No. 15G other than this form filed during the previous year, if any: Only write yes if you have already filled any 15g. and include the amount in the field for or else write no.
19. Details of income for which the declaration is filed:
- Identification number of relevant investment: UAN number
- Nature of income: PF
- Section under which tax is deductible: Section 192 A
- Amount of Income: total PF balance.
Declaration: In this section, you need to declare that the information provided by you in the form is true and correct. You also need to declare that you are eligible for the exemption from TDS under section 197A of the Income Tax Act, 1961.
Signature: Sign the form in the space provided at the bottom of the form.
Submit the Form: Once you have filled out the form, submit it to the Provident Fund Office where your account is maintained. You can also submit the form online if your PF account is linked to your Aadhaar card. or you can contact our pf withdrawal services to help you process the request for you.
Remember that Form 15G is valid only for one financial year. You need to submit a new form every year if you want to claim an exemption from TDS on your PF withdrawal. Also, if your income during the year exceeds the basic exemption limit, you will not be eligible to submit Form 15G. In that case, TDS will be deducted on your PF withdrawal, and you can claim a refund when you file your income tax return.