[Resolved]  Income Tax Dept — TDS

Address:

Mumbai Suburban, Maharashtra

I am a lady aged 63 years. I have an annual income of Rs. 4 Lacs, almost all from Bank deposits..
Considering the current income tax slabs of "1.6 lacs- No Tax and Up to 5 Lacs 10% tax",
my tax commitment for AY11-12, works out to only about Rs. 21,000.
As banks are deducting 10% TDS on all interest income over Rs. 10,000, I end up paying Rs 40,000 as tax through TDS.
Can I give From-15G to avoid avoid excessive TDS? Can some body help me on this?
Why cant the govt reduce TDS rate to 5% in such cases