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Tds on bank fd interest income

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(Querist)
20 October 2014 What the tax laws say about deduction of Tax on Bank FD interest income. I believe that when the earned interest income (accrued and realised) on a particular date, may be 30th June or 30th september etc, as the case may be, exceeds Rs. 10000 tax is deducted . Am I correct ? Kindly clarify.

v.s.rajamani
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
20 October 2014 TDS is deducted on accrual/payment basis whichever is earlier....

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