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.
CAclubindia
