Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
A declaration by a senior citizen that their income is below the taxable limit, stopping TDS on interest.
Submit it every April at every bank. Forgetting is the commonest reason a retired person's money sits with the tax department for a year.
A declaration that total income falls below the taxable limit, filed so that tax is not deducted at source; Form 15H is the equivalent for senior citizens.
It prevents a deduction, it does not create an exemption. Filing it when income is in fact taxable moves the problem rather than removing it.