Starting from April 1st, 2023, Govt has started levying TDS of 10% on listed NCDs under section 193 of the Income Tax Act, 1961
The TDS is levied irrespective of interest amount and will form part of Income from other sources and one can take a refund while filing ITR.
Rationale as per my interpretation:
As the government’s intention is to take 10% TDS from the entire interest that the company is going to pay (1-time interest settlement at maturity),
TDS will always be charged on the entire interest amount for cumulative interest bonds.
In this case, from @Aditya_Gupta’s perspective, He made a total return of 8.79% for 5 months and 5 days, Govt should have deducted 0.879% ideally (13.63 Rs but has deducted 68.26 rs)
While he can claim the refund for the excess TDS amount of 55 rs or even the entire 68.26 rs if he doesn’t fall under any tax bracket while filing his ITR, If he falls under the 30% tax bracket, 30% of 136.26 ( 40.87 rs) is his tax liability and he can then claim a refund of 14 odd rupees in that case.
The only caveat in this whole scenario is that it will be tough for his CA and especially Govt to differentiate between his interest income and short-term capital gain/loss as it involves a lot of tax-based calculations and assumptions 
Therefore, Govt simplified it by charging 10% upfront on the entire interest amount, and any amount that the investors want a refund for shall only be done only after properly filing tax returns.