TDS Calculator
Calculate TDS applicable on salary, FD interest, rent, professional fees and other payments.
Frequently asked questions
What happens if TDS is deducted but I am below the tax limit?
If your total income is below the taxable limit, you can claim a full refund of TDS deducted by filing your ITR. For FD interest, you can also submit Form 15G (below 60 years) or Form 15H (senior citizens) to the bank to prevent TDS deduction at source.
What is the TDS rate if PAN is not provided?
If the deductee does not provide PAN, TDS must be deducted at 20% or the applicable rate, whichever is higher, under Section 206AA. Always provide PAN to the deductor to avoid excess TDS.
When is TDS on salary deposited to the government?
Employers must deposit TDS deducted from salary by the 7th of the following month (except March, where deadline is April 30). They must also file quarterly TDS returns (Form 24Q) and issue Form 16 to employees annually.
Can TDS deducted be claimed as tax credit?
Yes. All TDS deducted appears in your Form 26AS and AIS. When you file your ITR, TDS is automatically credited against your tax liability. If TDS exceeds your tax liability, you get a refund.
What is Form 15G and Form 15H?
Form 15G is a self-declaration form submitted by individuals (below 60 years) with income below the basic exemption limit to prevent TDS on interest income. Form 15H is the equivalent for senior citizens (60+). These must be submitted at the start of each financial year.