New series of Schiff bases derived from o‐substituted thiosemicarbazides and 8‐formyl‐7‐hydroxy‐4‐methylcoumarin have been synthesized and their coordination tendency toward Co(II), Ni(II), and Cu(II) metal ions is studied. Analytical, spectral (IR, UV‐Vis, ESR, and FAB‐mass), magnetic, and thermal studies suggests octahedral geometry of the type ML2 for all the Co(II), Ni(II), and Cu(II) complexes. The complexes are soluble in DMF/DMSO and are non‐electrolytes. The Schiff bases and their metal complexes have been screened for antibacterial (Escherichia coli, Staphylococcus aureus, Salmonella typhi, and Pseudomonas aeruginosa) and antifungal activities (Aspergillus flavus, Aspergillus niger, and Cladosporium) by minimum inhibitory concentration method. DNA cleavage is studied by agarose gel electrophoresis method. Metal (II) complexes show good anthelmintic activity when compared to Schiff bases.