Can anyone tell Is the Income from Fixed Deposits is Taxable?

If i do some Fixed Deposit i will be making some money will that come under Taxable Income or the bank itself will give the returns after ax deduction?

Public Comments

1. income from fixed deposits ( i.e. interest income ) is surely taxable in all cases. bank may deduct tax deducted at source ( TDS ) in case the maturity amount is Rs 50000 or more. interest income will be taxable under the head "income from other soucces"
2. The Interest on Fixed Deposits will be taxable. The bank may deduct tax on Interest if it exceeds 5000 Rs. per annum, however it is your duty to add it to your taxable income and pay taxes accordingly
3. if it is more than 5 years it is not taxable. But, U get the interest next year, that will be treated as a other income, taxable if bank deducted TDS from you interest then U shows that.
4. Interest on FDs are taxable. and if interest is more than 5000 per annum than Bank will deduct at rate of 10%.