When is Income Tax deducted at source from interest?

If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed ₹5,000 /- during the financial year (i.e. year 2019-20), it is obligatory on the part of the deductor of tax to deduct income tax at source. However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15G/H or by submitting the Exemption certificate from the respective Income Tax Authority for every financial year.