The bank is liable to deduct 10% TDS on interest fixed deposit if interest from FD exceeds 10000 during the year.
Since you are not under the tax bracket and want to avoid tax, you are advised to furnish Form 15G( for senior citizen)/15H to the bank.
If you fail to do so or unable to furnish stated forms then you can claim the refund of tax while filing income tax return.
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My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
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Thank you,
Yours sincerely,
Anu, Thakurani's bestie