Tata motors fd - accrued interest.

Gaurav (IT Professional) (64 Points)

07 August 2011  

My Tata motors FD deposited TDS on accrued interest for FY2010-2011 as below:

Amount Credited  TDS Deposited
1405 141
1456 146
1494 149
1499 150

Total interest = 5854

Total TDS ( @ 10%) = 586

I am using ITR2 to file returns online.

My questions:

1) Even though bank deducted TDS @ 10%, when I club interest with my total income, will the tax on this interest be applied at the slab rate on which I fall in ? 

2) Should the interest amount of 5854 be added to Bank account interest & shown in Schedule OS column 1(b) ?

3) TDS amount of 586 to be shown under Schedule TDS2 of TDS ? If yes, why there are 2 columns in TDS2 i.e. Total tax deducted & Amount claimed for this year ?

Regards,

Gaurav.