Hi,
Say if I invest in FD for 10 years. I want to understand how I will be taxed. If say 10% is my roi and 1st year I get 10000 interest on investment of one lac. So will the banks deduct tax first and then the amount will go for compounding next year or they will deduct tax only after completion of tenure that’s 10 years.
I know in debt mutual fund you will be taxed only if you withdraw units.
Thanks,
Rajan