TDS ON INTEREST

sure, individuals or huf who are not required for tax audit do not need tds deduction except in case pof rent exceeding 50,000

1. The above nature of income constitute interest income for the payee and it will be covered under sec 194A. 
2. Sec 194A deals with deductions of TDS on interest other than interest on securities like FD, loan, etc. 
3. In the above case, TDS need to be deducted @ 10% if the interest income exceeds Rs. 5,000 ( in aggregate ). However deduction of TDS is not warranted if the Individual or HUF is not covered under sec 44AB (tax audit where T.O does not exceed Rs. 1 crore during the previous FY) 
4. Yes, in your case TDS need to be deducted @ 10%  if the amount exceeds Rs. 5,000 and you are covered under Tax audit during the previous year. 
Please correct me if the above solution has an alternative view.