It is the duty of a tax payer to record all his/her transactions, to explain sources of payments made by him/her and to declare the true income in the returns of income filed every year.
If new goals have emerged, this is the time to make fresh investments.
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
Individual tax-payers could get notices in case of a loan or a cash gift from a relative.
The first step in your order of priority should be to pay off any high-cost debt you might have incurred.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
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