TDS on Fixed Deposits – Resident Indian / Domestic Deposit?

Hi. I have some queries regarding TDS on Fixed Deposits in India [domestic deposits by resident indians only]

TDS Rate: Is the rate of TDS [eg 10%] dependent on the income tax rate of the individual [slab rate]? If a person is in the 30% taxable slab as per his annual income, is he liable to pay 30% tds on the interest income or is it a flat 10%?

Amount deductable: Is the incremental amount above 10000 taxable or the entire interest income? [eg. 15000 income from FDs, same branch]. Is 5000 applicable for TDS or 15000?

Offsetting TDS deduction with ITR filing:
Assuming an amount of 3000 has been deducted by way of TDS.
How is this amount offset in one’s income tax filing? Is 3000 reduced from gross taxable income? Or is it reduced from interest income. How are avoiding double taxation on the interest income?


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What is the roll of FII (Foreign Instituional Investor) in our stock market.?

As recent uptrend of the sensex & Nifty , it is said that these are due to FII ( Foreign Institunal investor) who have been buying the shares of the comapanies since mid-august 2007. My queries are what is the Rule Governs for investmentment by FII in our stock market. Why & how they are taking prominent position in our stock market. What is the Pro & Cons of these trend.Please clarify.