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The interest earned from FDs is a taxable income and is subject to tax deductions. In the case of fixed deposits, whether it is with a bank, post office, or NBFC, TDS is deducted in accordance with the income tax regulations set by the government.

Fixed depositsTax deductedIncome tax actAverage income taxIncome tax payableTax deduction at sourceFixed deposit interestTax deductionsFinancial yearNvestment toolsIncome tax regulationsEction 194aIncome tax liabilityTax collectionJoint account holdersExemption limit