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.

Some banks are continuing to offer up to 8.4% interest on fixed deposits (FDs) for senior citizens (age 60 years and above) ...