Budget 2026 offers significant relief to senior citizens and small investors. They no longer need to submit Form 15H repeatedly; they will only need to submit it once. This will simplify tax compliance for multiple securities.
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Budget 2026: Finance Minister Nirmala Sitharaman has presented the general budget. Although no changes have been made in the tax slabs in this budget, but a big relief has been given to senior citizens. In this, tax compliance has been made easier for senior citizens. Now, to avoid TDS on interest earned from bonds, debentures and other securities kept in demat, Form 15H will not have to be submitted repeatedly. The government says that its purpose is to provide relief to those investors who have multiple securities in different companies.
Overall, with this decision of the government, senior citizens will not have to submit Form 15H again and again. Till now, they had to submit it everywhere. It should be noted that senior citizens generally use Form 15H for income.
New rule for Form 15H in Budget
The government has changed a rule regarding Form 15H in Budget 2026. Until now, investors investing in different companies or bonds had to submit separate Form 15Hs to each entity. However, investors will no longer have to submit Form 15Hs multiple times.
Under the new rule, investors will now need to submit Form 15H only once to their depository (NSDL or CDSL). The depository will automatically transmit this information to all companies and bond issuers where the investor has invested. This change will primarily apply to investments held in demat.
Know what Form 15H is.
Form 15H is for individuals aged 60 years and above. If a senior citizen’s total taxable income is below the basic tax exemption limit, they can submit this form to request that TDS not be deducted on their interest income.
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