TDS Calculator
TDS (Tax Deducted at Source) is deducted by the payer before making certain payments. This calculator covers all major TDS sections for FY 2024-25: FD interest (194A), rent (194-IB), professional fees (194J), property purchase (194-IA), and more. Know exactly how much will be deducted and what you'll receive.
Frequently Asked Questions
What is TDS and who deducts it?+
TDS (Tax Deducted at Source) is a mechanism where the payer deducts tax before making a payment and deposits it with the government. Banks deduct TDS on FD interest; tenants deduct on high rent; companies deduct on professional fees; buyers deduct on property purchases above ₹50L.
How do I avoid TDS on FD interest?+
Submit Form 15G (under 60 years) or Form 15H (senior citizens) to your bank declaring that your total income is below the taxable limit. Banks will then not deduct TDS. This is valid for one financial year and must be renewed annually.
Can I claim TDS credit in my ITR?+
Yes — TDS deducted appears in your Form 26AS and Annual Information Statement (AIS). When you file ITR, you claim credit for all TDS deducted. If TDS exceeds your actual tax liability, you receive a refund from the Income Tax Department.
What happens if TDS is not deducted?+
The payer (person or entity making the payment) is liable — not the recipient. Failure to deduct attracts interest at 1%/month (non-deduction) or 1.5%/month (deducted but not deposited), plus a penalty equal to the TDS amount, and disallowance of the payment as a business expense.