Form 15G/15H - Its high time to file and its relevance:

Under section 197A of the Income Tax Act 1961, Form 15G/ H is a self-declaration, which is provided by a person resident in India (not being a Company or Firm) to their deductor that the tax on his estimated total income of the previous year, in which such income is to be included in computing his total income, will be NIL. The Declaration in writing should be collected by the deductor in Duplicate. This form has to be filed prior to the date when the  deductor is liable is deduct TDS. Usually in private sector the date is 31st March when the interest are credited to the account of depositor/ paid , so filing of 15G/H is must before 31st March

The Declaration can be made in the following Forms:
a. Form 15H - For Senior Citizens
b. Form 15G - For other than Senior Citizens

Such declaration under section 197A can be made only for tax deductions under section 192, 193, 194, 194A, 194C, 194D, 194G, 194H, 194I, 194J, 194K, 194LA and 195.