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 can avoid TDS deductions on fixed deposit interest over Rs 1 lakh by filing Form 15H, which ensures no tax deduction if income is up to Rs 12 lakh under the new tax regime.