TDS on Interest on FD

Ravi Dasija (C.A. ) (273 Points)

07 April 2011  

Hello Friends/ Seniors

I have an interest income of Rs. 40,000/- from Fixed Depoits. All the FDs are with one bank only.

My questions are:

1) TDS that will be deducted by the bank will on the full amount of Rs. 40,000/- or on Rs. 30,000/-

2) If the FD's are with different Banks and the total Interest received is the same Rs. 40,000/-, but interest from none of the banks exceed Rs. 10,000/-, then will TDS be deducted or not.

Thanks in advance