Tds on interest on fixed deposit

SANDIP (DY. MANAGER) (25 Points)

12 December 2012  

Dear All, 

On Banks/Corporate Fixed Deposit,  TDS is deducted by Banks & Company  if the Interest amount exceeds Rs.10000/- p.a.

If I am doing the investment for 2 years cumulative plan for the amt of Rs.46000/- @ 10.25% p.a anually compounding, then at the end of 2nd years will the interest be taxable.

Regards

Sandip