TDS on Fixed Deposit Interest Calculator (India)
Computes Tax Deducted at Source (TDS) under Section 194A on cumulative bank FD interest exceeding statutory ₹40,000 (general) or ₹50,000 (senior) limits.
Applicable at 10% since interest exceeds ₹40,000 threshold.
How This Calculation Formula is Formulated
Calculates Tax Deducted at Source (TDS) on bank Fixed Deposit interest under Section 194A of the Indian Income Tax Act based on statutory thresholds and PAN registration.
Variable Definitions & Measurement Units
₹65,000 FD Interest for Non-Senior Citizen
A 35-year-old taxpayer with valid PAN earns ₹65,000 interest from bank fixed deposits in a financial year.
Form 15G and 15H Rules
If your total taxable income (including FD interest) is below the basic tax exemption limit, you can submit Form 15G (under 60 years) or Form 15H (senior citizens) to the bank to prevent TDS deduction.
Note that TDS is merely a withholding tax. The entire FD interest must still be reported under 'Income from Other Sources' in your Income Tax Return and taxed at your marginal income slab rate.
Frequently Asked Questions About TDS on Fixed Deposit Interest Calculator (India)
What happens if I don't submit my PAN to the bank?
If PAN is not linked to your bank account, TDS is deducted at the punitive rate of 20% under Section 206AA, and the credit will not reflect in your Form 26AS.
Is TDS deducted on company FDs at the same threshold?
No. For non-banking financial companies (NBFCs), the Section 194A TDS threshold is only ₹5,000 per financial year.
Related Online Calculators
Frequently referenced alongside TDS on Fixed Deposit Interest Calculator (India).
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