Yes, as per Section 194A of the Act, your interest income is taxable when the interest earned from investment in fixed deposits across all NBFCs exceeds ₹5,000. At a PAN Card level for the depositor, his / her interest income will be arrived at after consolidating all his Fixed Deposits. TDS will be calculated by Bajaj Finance and paid to the government on quarterly basis (in case of monthly scheme, TDS will be deducted on monthly basis). In case the depositor provides Form 15G/15H during the application stage or later in the FY to Bajaj Finance, he will be exempted from paying tax on his interest income from the date of submitting Form 15G / 15H on Bajaj Finance Fixed Deposits. However, if the aggregate amount of interest paid or payable during the financial year exceeds ₹2,50,000 for non-senior citizens or ₹5,00,000 for senior citizens (aged 60 years or more) including super senior citizens (aged 80 years and above), then Form 15 G/H will not be valid and tax will be deductible on the entire amount of interest.