Tds

There is no form 16G. There is Form 15G which is a declaration under sub section(1) and (1A) of section 197A of the IT Act 1961 to be made by an individual or a person claiming receipts without deduction of tax at source. If the individual is of age 65 years or more Form 15H is used.

In my view, such forms should be submitted to bank before they deduct tax.