Bank are not required to deduct the TDS from depositors who have submitted declaration in which one of the following forms under the Income Tax Rule, 1962.

Correct option is C

Form 15G is a self-declaration form filed with the banks or financial institutions that deduct TDS on the interest income earned/accrued to not deduct TDS on the interest income.
According to Income Tax Act 194A of the Income Tax Act, banks are required to deduct TDS when an individual’s interest income exceeds Rs 40,000 in a calendar year (the ceiling is Rs. 50,000 for senior persons).