Form 15G and 15H: Stop Your Bank Cutting TDS on FD Interest

Form 15H is for those 60+, Form 15G for everyone else; both stop the bank deducting TDS on interest.

Banks now cut 10% TDS only once FD interest crosses 50,000 a year (1,00,000 for seniors).

Submit the form at the start of every financial year, separately to each bank and branch.

You can only file if your final tax for the year is genuinely nil; a false claim invites prosecution.

If TDS is already deducted, the only way back is to file your ITR and claim a refund.