Need information regarding tax on fixed deposit?

I have some 12lakhs. i wanted to invest it on a property next year. I am planning to deposit this amount in bank for 1 year.
I wanted to know about the tax deductions?
if i fill the TDS form will i be exempted from tax?
Which is a better way to invest i.e, investing the full amount in a single deposit or splitting the amount and depositing in different banks?
Please suggest some other investment plans where i can invest this amount other than FD for 1 year.

3 Replies to “Need information regarding tax on fixed deposit?”

  1. I am Senior cityzen of 64 Years and I have no any source of income other than Interest and total will not above Rs.2.50.000 which form may I fill to avoid TDS cutting

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