Avoid TDS on PF Withdrawal with Form 15G: Download and Submit Online
What is Form 15G and How to Download and Submit it Online for PF Withdrawal?
If you are planning to withdraw your provident fund (PF) balance, you may have heard about Form 15G. This is a self-declaration form that can help you avoid tax deduction at source (TDS) on your interest income from PF withdrawal. In this article, we will explain what is Form 15G, who can submit it, how to download and fill it, and how to submit it online for PF withdrawal.
Form 15G is a declaration under sub-sections (1) and (1A) of section 197A of the Income-tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax. In other words, it is a way of telling the income tax department that your total annual income is less than the tax threshold, and hence, there should be no TDS cut on your interest earned in that year.
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Form 15G is important for PF withdrawal because according to section 192A of the Finance Act, 2015, EPF withdrawal will attract TDS if the amount of withdrawal is more than Rs.50,000 and you worked for less than 5 years. However, if your total income is below the taxable limit, you can submit Form 15G to the EPFO and request them not to deduct any TDS on your PF withdrawal.
The benefits of submitting Form 15G for PF withdrawal are:
You can get the full amount of your PF balance without any tax deduction.
You can save time and hassle of claiming a refund of TDS from the income tax department.
You can avoid any penalty or interest for non-payment or late payment of tax.
Eligibility Criteria for Form 15G
Not everyone can submit Form 15G for PF withdrawal. There are some conditions that you need to fulfill to be eligible for submitting this form. These are:
You must be a resident individual or a Hindu Undivided Family (HUF) or a trust or any other person (not being a company or a firm).
Your age must be less than 60 years. If you are above 60 years, then you have to submit Form 15H instead of Form 15G.
The tax calculated on your total income must be nil. This means that after deducting all the applicable deductions and exemptions under the Income-tax Act, your taxable income must be below the basic exemption limit of Rs.2.5 lakh for financial year 2020-21 (AY 2021-22).
The total interest income subject for the year must be less than the basic exemption limit of Rs.2.5 lakh. This includes the interest income from all sources such as fixed deposits, recurring deposits, savings accounts, etc.
To calculate your tax liability and interest income for Form 15G, you can use the following table as a reference:
Amount (in Rs.)
Gross total income
Deductions under Chapter VI-A (e.g. 80C, 80D, etc.)
Tax on total income
Rebate under section 87A
Net tax payable
Total interest income for the year (e.g. from FD, RD, etc.)
Basic exemption limit for the year
Eligible to submit Form 15G?
How to Download Form 15G
You can download Form 15G from the official website of the Income Tax Department or from the EPFO portal. Alternatively, you can also get a physical copy of the form from your bank or EPFO office. The form is available in both English and Hindi languages.
How to download and fill Form 15G for PF withdrawal
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The form has two parts: Part I and Part II. Part I is to be filled by the person who is making the declaration and Part II is to be filled by the person who is responsible for paying the income. The details required to fill Form 15G are:
Name of the declarant
PAN of the declarant
Status of the declarant (individual/HUF/trust/other)
Previous year (for which declaration is being made)
Residential status (resident/non-resident)
Flat/Door/Block No., Name of Premises/Building/Village, Road/Street/Lane/Post Office, Area/Locality/Town/City/District, State, PIN code, Email ID and Mobile Number of the declarant
Whether assessed to tax under the Income-tax Act, 1961 (Yes/No)
If yes, latest assessment year for which assessed
Estimated income for which declaration is made
Estimated total income of the previous year in which income mentioned in column 9 to be included
Details of income for which declaration is made (nature of income, section under which tax is deductible, amount of income)
Details of investments/accounts in respect of which declaration is being made (identification number of relevant investment/account, etc.)
Declaration and verification by the declarant (signature with date)
Name and address of the person responsible for paying the income referred to in column 16 along with PAN/TAN/Aadhaar and email ID.
Acknowledgement by the person responsible for paying the income referred to in column 16 (signature with date and seal/stamp)
How to Submit Form 15G Online for PF Withdrawal
You can submit Form 15G online for PF withdrawal through the EPFO portal by following these steps:
Login to your EPFO account using your UAN and password.
Select 'Manage' from the top menu bar and click on 'KYC'.
Update your PAN details if not already done and verify it with the Income Tax Department.
Select 'Online Services' from the top menu bar and click on 'Claim (Form-31, 19 & 10C)'.
Verify your bank account details and click on 'Proceed for Online Claim'.
Select 'PF Advance (Form 31)' from the drop-down menu and enter the purpose and amount of withdrawal.
If your service is less than 5 years and withdrawal amount is more than Rs.50,000, you will see an option to upload Form 15G. Click on 'Choose File' and upload a scanned copy of your filled and signed Form 15G in PDF format.
Tick on the certification and submit your claim.
Form 15G is a useful tool to avoid TDS on your PF withdrawal if your total income is below the taxable limit. However, you should also remember that Form 15G is not a tax exemption form, but only a declaration that you are not liable to pay tax. You still have to file your income tax return and report your PF withdrawal income in it. Also, you should submit Form 15G only if you meet the eligibility criteria and fill it correctly with all the relevant details. Otherwise, you may face penalty or prosecution for false or misleading declaration.
Here are some tips and suggestions for PF withdrawal:
Try to avoid withdrawing your PF balance before completing 5 years of service, as it will attract TDS and also reduce your retirement savings.
If you have to withdraw your PF balance due to financial emergency or any other valid reason, try to withdraw only the amount that you need and not the entire balance.
Keep your KYC details updated and verified on the EPFO portal to avoid any delay or rejection of your claim.
Check the status of your claim online and follow up with the EPFO office if there is any issue or discrepancy.
Keep a copy of your Form 15G and other documents related to your PF withdrawal for future reference.
What is the difference between Form 15G and Form 15H?
Form 15G and Form 15H are both self-declaration forms to avoid TDS on interest income. The main difference between them is that Form 15G is for individuals below 60 years of age, while Form 15H is for senior citizens above 6