{"id":15771,"date":"2026-08-24T19:00:20","date_gmt":"2026-08-24T13:30:20","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=15771"},"modified":"2026-08-24T19:01:49","modified_gmt":"2026-08-24T13:31:49","slug":"how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/","title":{"rendered":"How to Avoid TDS on Bond Interest Legally: 15G, 15H &#038; Section 197"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"TDS_on_bonds_isnt_a_penalty_its_tax_collected_early_and_Indian_tax_law_gives_you_several_legitimate_ways_to_reduce_or_avoid_it_This_article_breaks_down_the_latest_TDS_thresholds_on_bond_interest_the_shift_from_Form_15G15H_to_the_new_Form_121_how_a_lower_deduction_certificate_works_and_why_your_Form_26AS_and_AIS_are_your_best_defense_at_filing_time\"><\/span><strong>TDS on bonds isn&#8217;t a penalty; it&#8217;s tax collected early, and Indian tax law gives you several legitimate ways to reduce or avoid it. This article breaks down the latest TDS thresholds on bond interest, the shift from Form 15G\/15H to the new Form 121, how a lower deduction certificate works, and why your Form 26AS and AIS are your best defense at filing time.\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>If you ever found that your bond interest credit was a little less than what you were expecting, chances are you&#8217;ve encountered Section 193 of the Income Tax Act. Under this, bonds, debentures, and government securities are all considered \u201cinterest on securities.\u201d When you are paid interest by a company, an RBI-registered issuer, or a bond trading\/investment platform, they are legally bound to deduct tax. This is a tax that is collected in advance but doesn&#8217;t need to be paid by the investor and is legally avoidable by investors through several channels specified in Indian laws. <\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#TDS_on_bonds_isnt_a_penalty_its_tax_collected_early_and_Indian_tax_law_gives_you_several_legitimate_ways_to_reduce_or_avoid_it_This_article_breaks_down_the_latest_TDS_thresholds_on_bond_interest_the_shift_from_Form_15G15H_to_the_new_Form_121_how_a_lower_deduction_certificate_works_and_why_your_Form_26AS_and_AIS_are_your_best_defense_at_filing_time\" >TDS on bonds isn&#8217;t a penalty; it&#8217;s tax collected early, and Indian tax law gives you several legitimate ways to reduce or avoid it. This article breaks down the latest TDS thresholds on bond interest, the shift from Form 15G\/15H to the new Form 121, how a lower deduction certificate works, and why your Form 26AS and AIS are your best defense at filing time.\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#What_Triggers_TDS_on_Bond_Interest_Under_Section_193\" >What Triggers TDS on Bond Interest Under Section 193<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Form_15G15H_Have_Been_Replaced_by_Form_121%E2%80%94Heres_What_Changed\" >Form 15G\/15H Have Been Replaced by Form 121\u2014Here&#8217;s What Changed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Section_197_The_Lower_Deduction_Certificate_Route\" >Section 197: The Lower Deduction Certificate Route<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Why_Form_26AS_and_AIS_Are_Your_Safety_Net\" >Why Form 26AS and AIS Are Your Safety Net<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Sources\" >Sources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>This is especially applicable now, as the rules have recently changed. The familiar Form 15G and 15H have been replaced, and the TDS limit for most bonds has been increased too. This article maps out the current scenario and guides you on how to redeem your TDS in accordance with the newly implemented Income Tax Act 2025.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Triggers_TDS_on_Bond_Interest_Under_Section_193\"><\/span><strong>What Triggers TDS on Bond Interest Under Section 193<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TDS applies at a flat 10% if your PAN is on file (20% without a valid PAN). It kicks in once your interest income from a single issuer crosses a threshold, not on every rupee.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Instrument<\/strong><\/td><td><strong>TDS threshold<\/strong><\/td><\/tr><tr><td>Listed company debentures (interest paid to a resident individual\/HUF, subject to Section 193 conditions)<\/td><td>\u20b910,000\/year;&nbsp; increased from \u20b95,000 by Finance Act 2025<\/td><\/tr><tr><td>Government securities \/ G-Secs (including securities covered by Section 193)<\/td><td>\u20b910,000\/year; introduced from 1 April 2025<\/td><\/tr><tr><td>8% Savings (Taxable) Bonds \/ 7.75% Savings (Taxable) Bonds \/ Floating Rate Savings Bonds, 2020<\/td><td>\u20b910,000\/year<\/td><\/tr><tr><td>National Defence Bonds \/ National Defence Loans<\/td><td>No TDS, subject to the specific securities covered by Section 193<\/td><\/tr><tr><td>6.5% Gold Bonds, 1977 \/ 7% Gold Bonds, 1980<\/td><td>No TDS, subject to the statutory conditions, including the \u20b910,000 nominal-value declaration<\/td><\/tr><tr><td>Interest on listed securities held in demat form<\/td><td>No TDS under Section 193 where the specific Section 193 exemption applies<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><em>Source: Income Tax Department<\/em><\/p>\n\n\n\n<p>Budget 2025 raised the debenture and G-Sec threshold from \u20b95,000 to \u20b910,000, giving small investors real relief. Always check the specific bond&#8217;s information memorandum, since exemptions are instrument-specific.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Latest Bond Updates:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/\" aria-label=\"How to Avoid TDS on Bond Interest Legally: 15G, 15H &#038; Section 197\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"How to Avoid TDS on Bond Interest\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/\">How to Avoid TDS on Bond Interest Legally: 15G, 15H &#038; Section 197<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/when-should-you-sell-a-bond-before-maturity-5-key-triggers\/\" aria-label=\"When Should You Sell a Bond Before Maturity? 5 Key Triggers\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"sell bond before maturity\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24153754\/sell-bond-before-maturity.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/when-should-you-sell-a-bond-before-maturity-5-key-triggers\/\">When Should You Sell a Bond Before Maturity? 5 Key Triggers<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-transfer-bonds-to-a-family-member-step-by-step-guide\/\" aria-label=\"How to Transfer Bonds to a Family Member: Step-by-Step Guide\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"How to Transfer Bonds to a Family Member\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24143840\/How-to-Transfer-Bonds-to-a-Family-Member.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-transfer-bonds-to-a-family-member-step-by-step-guide\/\">How to Transfer Bonds to a Family Member: Step-by-Step Guide<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Form_15G15H_Have_Been_Replaced_by_Form_121%E2%80%94Heres_What_Changed\"><\/span><strong>Form 15G\/15H Have Been Replaced by Form 121\u2014Here&#8217;s What Changed<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you&#8217;ve submitted Form 15G or <a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/tds-on-bond-interest-in-2026-rules-rates-what-to-do\/\" type=\"post\" id=\"15414\">Form 15H<\/a> in past years, note this carefully: from 1 April 2026, under the new Income Tax Act, 2025, both forms have been discontinued and merged into a single Form 121 <sup>[1]<\/sup>. The unified declaration is furnished under Section 393(6), and for tax years beginning on or after 1 April 2026, eligible taxpayers must use Form 121 instead of Forms 15G or 15H.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Who can file it: Resident individuals and HUFs of any age, whose estimated total tax liability for the year is nil<\/li>\n\n\n\n<li>What&#8217;s new: A single unified Form 121 will be filed, establishing no differentiation based on age; one form, one format, tracked via a Unique Identification Number (UIN)<\/li>\n\n\n\n<li>Where to submit: To each payer separately for now. A single depository-based filing (via NSDL\/CDSL, covering all your issuers in one go) is planned but will take effect from 1 April 2027 under the Finance Act, 2026<\/li>\n\n\n\n<li>Catch for younger investors: If you&#8217;re under 60, your total income must stay within the basic exemption limit itself (not just have nil tax after rebate); senior citizens get more flexibility since they qualify as long as final tax works out to nil, even on higher income<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_197_The_Lower_Deduction_Certificate_Route\"><\/span><strong>Section 197: The Lower Deduction Certificate Route<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 121 is meant for taxpayers whose estimated tax liability on their total income for the tax year is nil. If your income is taxable but the TDS that would otherwise be deducted is higher than your actual tax liability, for example, because of business losses, deductions, or a lower applicable tax rate, you can apply for a lower or nil deduction certificate. Under the new Income Tax Act, 2025, this is done through Form 128 under Section 395(1), which replaces the earlier Form 13 <sup>[2]<\/sup>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Submit the application online through TRACES\/income tax e-filing portal by enclosing estimated income, along with past ITRs<\/li>\n\n\n\n<li>The Assessing Officer generally processes the application within 30 days from the date of complete submission<\/li>\n\n\n\n<li>The certificate specifies an exact reduced (or nil) rate and is valid only for the financial year mentioned<\/li>\n\n\n\n<li>Share the certificate with your bond issuer before interest is credited; certificates submitted late won&#8217;t get you a refund on already-deducted TDS<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Form_26AS_and_AIS_Are_Your_Safety_Net\"><\/span><strong>Why Form 26AS and AIS Are Your Safety Net<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Even with careful planning, some TDS may still get deducted; an issuer might miss your declaration, or a certificate might arrive mid-year. In these instances, Form 26AS, along with the Annual Information Statement (AIS) on the income tax portal, will assist you. An entry of every TDS made on your PAN is captured here and checked against Form 16A issued by the payer. Before filing your ITR:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ensure you check the entry of every bond issuer\u2019s TDS with your own calculations of interest&nbsp;<\/li>\n\n\n\n<li>Report mismatches to the issuer as soon as you notice them to facilitate a speedy resolution&nbsp;<\/li>\n\n\n\n<li>Claim any excess TDS as a refund by reporting the full interest income and matching tax credits<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TDS on bond interest may reduce the amount you receive upfront, but it doesn&#8217;t necessarily mean you are paying more tax. The key is to use the right mechanism for your situation: Form 121 if you qualify for nil tax deduction, a lower deduction certificate under Section 197 if your actual tax liability is lower than the standard TDS rate, and Form 26AS and AIS to ensure every deduction is correctly credited.<\/p>\n\n\n\n<p>The most important step is to act before the interest is paid. Once TDS has been deducted, your primary route is to claim the excess as a refund while filing your ITR. In other words, good TDS planning is less about avoiding tax and more about avoiding unnecessary tax being deducted upfront.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1787566371847\"><strong class=\"schema-faq-question\">Q1. <strong>What is Form 121, and how does it work?<\/strong><\/strong> <p class=\"schema-faq-answer\">Form 121 is the new statutory declaration under the Income Tax Rules, 2026, for taxpayers who estimate that their tax liability for the relevant tax year is nil. Where the conditions are met, the payer can rely on the declaration not to deduct TDS on specified payments.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787566384104\"><strong class=\"schema-faq-question\">Q2. <strong>Who can submit Form 121 for bond income?<\/strong><\/strong> <p class=\"schema-faq-answer\">Form 121 is intended for taxpayers who meet the statutory conditions, including the requirement that their estimated tax liability for the relevant tax year is nil. Simply having low bond income does not automatically make someone eligible.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787566396043\"><strong class=\"schema-faq-question\">Q3. <strong>What is Form 26AS, and why should bond investors check it?<\/strong><\/strong> <p class=\"schema-faq-answer\">Form 26AS is a tax credit statement that helps taxpayers verify TDS and other tax-related information reported against their PAN. Bond investors should reconcile the TDS shown there with their interest statements and other records before filing their return.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787566407135\"><strong class=\"schema-faq-question\">Q4. <strong>What if my bond issuer deducts too much TDS?<\/strong><\/strong> <p class=\"schema-faq-answer\">You can generally claim credit for eligible TDS while filing your income-tax return. If your total tax liability is lower than the TDS deducted, the excess can potentially result in a tax refund, subject to the normal return-processing rules.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787566417326\"><strong class=\"schema-faq-question\">Q5. <strong>Is Form 121 the same as a lower deduction certificate?<\/strong><\/strong> <p class=\"schema-faq-answer\">No. Form 121 is a taxpayer declaration available when its statutory conditions are met. A lower\/nil deduction certificate is a separate mechanism through which the tax authority determines that tax should be deducted at a lower or nil rate.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787566427509\"><strong class=\"schema-faq-question\">Q6. <strong>What happens if I don&#8217;t submit Form 121?<\/strong><\/strong> <p class=\"schema-faq-answer\">If the conditions for non-deduction are otherwise met but the required declaration is not furnished, the payer may deduct TDS according to the applicable provisions. You can generally claim credit for eligible TDS when filing your return.<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sources\"><\/span><strong>Sources<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a rel=\"nofollow\" href=\"https:\/\/www.incometaxindia.gov.in\/documents\/20117\/16320689\/FN-121.pdf\/1961003d-292e-8475-5224-8fd81611f035?t=1776684178856&amp;version=2.0\">Income Tax Department \u2014 Form 121 Guidance Note<\/a><\/li>\n\n\n\n<li><a rel=\"nofollow\" href=\"https:\/\/www.incometaxindia.gov.in\/documents\/d\/guest\/form-128-faqs\">Income Tax Department \u2014 Form 128 FAQs<\/a>&nbsp;<\/li>\n<\/ol>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n\n\n\n<script type=\"application\/ld+json\">\n[\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"NewsArticle\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/#article\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/\"\n    },\n    \"headline\": \"How to Avoid TDS on Bond Interest Legally: 15G, 15H & Section 197\",\n    \"description\": \"Can you avoid TDS on bond interest legally? 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Learn when Form 15G\/15H or a lower\/nil TDS certificate can help, and how to check your tax credit in Form 26AS.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-avoid-tds-on-bond-interest-legally-15g-15h-section-197\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-24T13:30:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-24T13:31:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/24185841\/How-to-Avoid-TDS-on-Bond-Interest.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rohit Suhag | CA | IIM Calcutta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rohit Suhag | CA | IIM Calcutta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Avoid TDS on Bond Interest Legally: 15G, 15H & Section 197","description":"Can you avoid TDS on bond interest legally? 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