The TDS (Tax Deducted at Source) Calculator is an indispensable tool for both individual taxpayers and business deductors in India. TDS is a proactive tax collection mechanism designed by the Income Tax Department to collect tax at the very point of income generation. Our calculator helps you navigate the complex web of TDS sections and rates for the FY 2026-27 cycle.
Form 15G/15H: Stopping Bank TDS
If your total annual income is below the taxable threshold (₹2.5L in Old or ₹12.75L in New Regime), you can submit Form 15G (for individuals <60) or Form 15H (for seniors) to your bank. This instructs the bank not to deduct 10% TDS on your FD or RD interest, preserving your liquidity and avoiding the hassle of claiming a refund later.
Section 194-IA: TDS on Property Sales
When buying property worth more than ₹50 Lakhs, the buyer is legally required to deduct 1% TDS from the payment to the seller. This amount must be deposited with the government using Form 26QB. Failure to do so can result in heavy penalties and interest for the buyer, even if the seller is a tax-paying citizen.
TDS is a Credit, Not a Final Tax
A common misconception is that 'TDS paid is tax cleared'. In reality, TDS is merely a provisional tax collection. Your final tax liability is calculated based on your total income in your ITR. If your TDS exceeds your final tax, you get a Refund; if it's less, you must pay the 'Self-Assessment Tax' before filing.
Frequently Asked Questions
⚠️ Disclaimer
The figures provided by this calculator are estimates based on the inputs you provide and standard financial formulas. STOCKCALC.IN does not offer investment advice. Please consult a qualified financial advisor before making any investment decisions.