Banks deduct TDS @ 10% only. In case an individual is having more than one term deposit in various banks or even in different branches of the same bank, then in certain cases the total interest income is likely to fall within the income slab in which deduction of income tax @ 20% or even 30% may be applicable. In such cases the individual is required to declare his/her total income from all sources and compute the income tax accordingly. In case any balance amount over and above the amount already deducted as TDS is payable, the same should be paid in a bank through applicable income tax challan. Nowadays many banks are offering services of deposition of income tax online also.