When does the bank debit TDS (Tax Deposited at Source) on a Fixed Deposit?

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We start debiting TDS from your interest earned on Deposits as and when it crosses INR 40000/- for other than Senior Citizen and INR 50000/- for senior citizen in a particular financial year.

TDS is also deducted on unpaid interest accrued at the end of a financial year on 31st March.

Example 1. Total Interest earned (including Fixed and Recurring Deposits) in a financial year Rs. 35000/- TDS will not be debited as it's not crossed threshold.

2. Total Interest earned (including Fixed and Recurring Deposits) in a financial year Rs. 45000/- TDS will be applicable as its crossed the threshold for individual @ rate of 10% it will be INR Rs. 4500/-

A TDS deducted during a calendar quarter, certificate will be issued in the next month of the respective quarter.

Example TDS deducted for quarter April to June 2018 Certificate will be sent in the month of July 2018

2. The TDS Certificates that were sent till date via post can be downloaded online from the NSDL.

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