—Name withheld on request Form 15H is a self-declaration for non-deduction of taxes at source which can be submitted by an eligible person to the payor of specified incomes. Specified incomes includes income from provident fund withdrawal, dividend incomes, interest on securities, other interest incomes, national savings scheme, insurance commissions, life insurance policies, etc.
The following criteria needs to be fulfilled by an individual for being eligible to file Form 15H and avail non deduction of tax at source from payor of aforesaid specified incomes: The individual should be a tax resident in India for the relevant financial year (FY); a senior citizen—a person who has attained the age of 60 years or more at any time during the FY concerned; and total tax liability (after eligible exemptions/ deductions) for the FY concerned should be nil. In the instant case, since the estimated tax on your total income (up to ₹5 lakh, after any eligible exemptions and deductions) is expected to be nil, you may submit declaration in Form 15H for the specified incomes, provided rest of the conditions as mentioned above are satisfied.
—Narayan Kumar We understand that you would like to understand the process of obtaining TRC in India. As per the income tax laws, individuals qualifying as a tax resident in India for a relevant financial year can file an application with the respective jurisdictional assessing officer (AO) in Form 10FA (the form can be downloaded online from the income tax website but needs to be submitted physically to the AO).
Form 10FA requires specified information of the applicant, viz. name, nationality, address, email id, Permanent Account Number (PAN), basis of determination of residency, period of TRC,
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