Form 15G is a self-declaration form that allows eligible individuals to request non-deduction of TDS on Bank interests. If your interest income from fixed deposits, recurring deposits, or other sources exceeds ₹40,000 in a financial year, banks are required to deduct TDS. Form 15H is applicable for senior citizens, and the interest limit is ₹50,000. These forms should be submitted to the bank within the prescribed time to avoid unnecessary TDS deductions and ensure that the applicable tax information is properly recorded. Keeping copies of the submitted forms and interest statements can also help while preparing tax records and completing TDS return filing online.