What is the taxable amount for fixed deposit in local bank?

I made fixed deposit for 1 lakh for 1 year at rate of 9.5 % if i continue for 2nd year will i get TDS on it?

• i had made fixed deposit Rs 1 lakh at the rate of 9.5 percent so that i will get Rs 9500 per year if i continue with out taking that amount for the second year i will get the intret of Rs 19000. my question is i am going to get Rs 19000 for the second year whether the bank will put TDS on my fixed deposit or it will calculate for the single year.

• Answer:

  Bank will deduct the TDS if the interest paid or credited exceed Rs. 10,000/- in a financial year. So if your interest in a particular year exceeds the 10,000/- Rs., Bank will deducted the Tax in that year.