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What does the extension for Form 15G/15H benefit imply?

It means TDS shall not be deducted on interest income for the customers who had submitted Form 15G/ 15H during FY 2020 and exemption was successfully marked for non-deduction of TDS on interest income from Term Deposits, provided exemption was validly active as on the last day of FY 2020. i.e. Mar 31, 2020.