Form 15G (under 60) and Form 15H (60+) are self-declarations that let your bank skip TDS on FD / RD interest if your final tax liability for the year is zero. Submit at every bank where you have deposits, at the start of each financial year.
Verdict
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Quick rules
Form 15G: Resident, under 60, taxable income below basic exemption AND total interest income across all banks within that limit AND final tax liability = ₹0.
Form 15H: Resident, 60+, final tax liability for the year = ₹0 (no interest-income cap, unlike 15G).
NRIs cannot file 15G/15H — separate Section 197 lower-deduction certificate process applies.
Penalty for false declaration: under Section 277, up to 7 years' imprisonment.