Holders of fixed deposits (individuals under the age of 60 and HUFs) may fill out Form 15G as a declaration to ensure that no TDS is deducted from their interest income for the fiscal year. A ...
Banks deduct TDS when your interest income for a financial year crosses Rs 40,000. This interest income limit is Rs 50,000 for senior citizens under section 194A of the Income Tax Act. For tax ...