I have a MOD account with SBI from which I got Rs 15000 as interest. Now,we all know that MOD account being a 'term deposit', all of the interest earned qualifies for tax. SBI has done that and they have deducted Rs.1500(10% of the interest earned by me) as TDS and it is duly reflected in my form 26AS.
All well and good till now, but when I enter this interest amount(Rs.15000)while filling my IT Return-1,the software calculates the interest at 20%, so it is adding the interest to my total income and calculating income tax on this final sum.
There is no provision in ITR-1 to fill this income from interest from term deposits. My questions are:
1)Is my TDS on interest correctly deducted by the bank
2)Where should I reflect this in my ITR-1/Will I have to fill ITR-2 instead?

hii
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Sirs/Friends,

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