You can stop banks from deducting TDS on your fixed deposit interest—if your total income is below the taxable limit. Banks usually deduct 10% tax (TDS) if your FD interest is more than Rs 40,000 in a ...

Senior citizens have an effective tool in Form 15H, which can help them prevent Tax Deducted at Source (TDS) deductions on interest earned from fixed deposits exceeding Rs 1 lakh. Under the new income ...