When your total interest income for the year is within basic exemption limits, you should inform the bank not to deduct TDS on deposits. You can do this by submitting a form/ certificate from tax authorities as per the provisions of the Income Tax Act. The forms required for different categories have been listed below: Category of Account Form Required Individual/ HUF Form 15G/15H Companies Certificate u/s 197 Others  Certificate u/s 197   Disclaimers: You have to obtain Certificate u/s 197 Form from the Income Tax department.  Even if the customer submits the Form 15G/ 15H/certificate u/s 197, the tax which has already been deducted by way of TDS during the year prior to submission of such Forms/ certificates will not be refunded by the bank. However, TDS Certificates in Form 16A will be issued to the customers which can be used while filing his/her income tax return. Form 15G/ 15H/Certificate u/s 197 are valid only for the particular financial year in which they are issued. A fresh Form 15G/15H needs to be furnished for each deposit that is placed with the Bank during the financial year.