Will a person in 30% IT bracket be required to deposit balance Income tax @ 20% by bank challan?



He is in 30% Tax bracket and has bank deposit which has fetched him Rs 50000 as annual interest. On this interest , bank has deducted TDS @10% as per their rule. Now let me know whether he has to deposit the difference of 20% (30% – 10%) of ITax by bank challan before filing his IT return. If yes, how to calculate this amount?

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