Is it mandatory to submit form 15H

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No, it's not mandatory but it will be helpful if you submit Form 15H every financial year if you are earning interest more than INR 50000 in a financial year. How is that, let's check few examples:

1. If your total annual income is lower than the exempted slab in income tax.

If you fill form 15H Tax Deducted at Source will not be debited and you can save excess tax payment (if any).
If you do not fill form 15H Tax Deducted at Source will be debited and you need to apply for refund (if any).

2. If your total annual income is more than the exempted slab in income tax.

If you do not fill form 15H Tax Deducted at Source will be debited and you will get TDS certificate which you can attach while filing income tax and pay remaining tax (if any).
If you fill form 15H Tax Deducted at Source will not be debited and while filing return, you need to attach interest certificate and pay the tax on interest earned (if any).

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Is it mandatory to submit form 15H?