The banks in India have to deduct TDS when the interest income of an individual is more than Rs.10,000 a year. ...
In case an individual's total income is below the taxable limit, he/she can submit a Form 15G to the bank to request them not to deduct TDS on the interest amount.
Form 15G can be submitted as age is less than 60 years. Total tax is nil and interest income is less than minimum exempt income.
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