TDS deduction on fixed deposits has to be done by banks as per the Income Tax provisions. And in case, you are not sure of whether the bank has deducted correct TDS amount on FDs and has deposited the same with the government. Here is a way to check that out:
TDS deduction on deposits
In accordance with section 194A, banks need to deduct TDS @ 10% for deposits if interest of all deposits with the bank exceeds Rs. 10000. In case of senior citizens, the relaxation has been made for upto Rs. 50,000 interest income per year. It is to be noted in case the PAN details are not available with the bank then TDS @ 20% is deducted.
There are two ways to ascertain that the correct TDS amount has been deducted as bank issues a quarterly interest certificate or Form 16A using which you can verify the amount of TDS deducted as well as the interest amount accrued.
In the other case, you can know of the tax paid as well as tax credit from Form 26AS issued by the department of Income tax and can be downloaded from the e-filing portal. Currently, details upto December 2017 can be fetched from it as still there is time to file the TDS return for the previous quarter that ended on March 31, 2018.
Another important thing to note is that in case you as a depositor has not furnished PAN to your bank than other than the higher 20% TDS deduction, the same will not be reflected in Form 26AS. So, the taxpayer shall also not be able to get the credit for TDS at the time of filing ITR.