FD TDS Calculator

Principal Amount:
Rate of Interest: [%]
Time Period [in years]:
Age: Normal Citizen Senior Citizen (60 years or more) Super Senior Citizen (80 years or more)

Interest Income:
TDS:

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Are you interested in investing in a fixed deposit (FD) but not sure how much tax you’ll have to pay on the interest earned? Do you want to know how to calculate your tax deduction at source (TDS) and save money on taxes? Then you’ve come to the right place. Here you can use FD TDS Calculator to Calculate your Taxes in easy way.

In this article, we’ll cover everything you need to know about using an FD TDS calculator to calculate your TDS and maximize your savings.

What is FD TDS Calulator ?

First, let’s go over the basics of FD TDS Calculator. A fixed deposit is a popular investment option for people who want to earn a fixed rate of interest over a specific period of time. When you invest in an FD, you earn interest on the principal amount you’ve deposited. However, the interest earned on an FD is taxable under the Income Tax Act of India. This means that you’ll have to pay a percentage of your interest earnings as tax to the government.

This is where TDS comes into play. TDS is a form of advanced tax that is deducted at the source of the income. In the case of an FD, the bank or financial institution deducts the TDS before paying out the interest to the depositor. The TDS rate for FDs is based on the depositor’s age and the amount of interest earned.

This is where we can use the FD TDS Calulator to Calculate TDS on Fixed deposit.

How to calculate TDS on an FD?

This is where an FD TDS calculator comes in handy. An FD TDS calculator is a tool that helps you determine the amount of TDS you’ll have to pay on your FD interest earnings. To use the calculator, you’ll need to input the principal amount, the interest rate, the tenure, and your age. Once you’ve inputted all the relevant information, the calculator will give you an estimate of the TDS you’ll have to pay.

How can you save money on TDS?

There are a few strategies you can use to minimize your TDS liability.

One way is to split your FD investments across multiple banks or financial institutions. This way, you can take advantage of the TDS exemption limit of Rs. 40,000 (for individuals below 60 years of age) or Rs. 50,000 (for senior citizens) for each institution.

This means that if your interest earnings from one institution are below the exemption limit, you won’t have to pay any TDS.

Another way to save on TDS is to submit Form 15G or 15H to your bank or financial institution. These forms declare that you expect your total income for the financial year to be below the taxable limit and that no TDS should be deducted from your FD interest earnings.

However, you can only submit these forms if your total income is below the taxable limit of Rs. 2.5 lakh.

Here you can Check your Income Tax Liability – Click here

For Other Type – Click Here

Here’s a table that summarizes the key points related to FDs and TDS:

Topic	Description
Fixed Deposits (FDs)	An investment option where you deposit a fixed amount of money with a bank or financial institution and earn a fixed rate of interest over a specific period of time.
TDS (Tax Deducted at Source)	A form of advanced tax that is deducted at the source of the income. In the case of FDs, the bank or financial institution deducts the TDS before paying out the interest to the depositor.
TDS Rate for FDs	The TDS rate for FDs is based on the depositor’s age and the amount of interest earned. The current TDS rates for FDs are: 10% if the interest earned is more than Rs. 40,000 per year (for individuals below 60 years of age) 10% if the interest earned is more than Rs. 50,000 per year (for senior citizens)
FD TDS Calculator	A tool that helps you determine the amount of TDS you’ll have to pay on your FD interest earnings. To use the calculator, you’ll need to input the principal amount, the interest rate, the tenure, and your age. Once you’ve inputted all the relevant information, the calculator will give you an estimate of the TDS you’ll have to pay.
TDS Exemption Limit	The TDS exemption limit for FDs is Rs. 40,000 (for individuals below 60 years of age) or Rs. 50,000 (for senior citizens) per financial institution. This means that if your interest earnings from one institution are below the exemption limit, you won’t have to pay any TDS.
Form 15G/15H	These forms declare that you expect your total income for the financial year to be below the taxable limit and that no TDS should be deducted from your FD interest earnings. However, you can only submit these forms if your total income is below the taxable limit of Rs. 2.5 lakh.

Conclusion:

In conclusion, investing in an FD can be a great way to earn a fixed rate of interest over a specific period of time. However, it’s important to remember that the interest earned on an FD is taxable under the Income Tax Act.

By using an FD TDS calculator and following some simple strategies to minimize your TDS liability, you can maximize your savings and keep more of your hard-earned money in your pocket.

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