Calculate Tax Deducted at Source on any income
TDS shows up everywhere โ on your salary slip, on the interest your bank pays, on rent if you're a landlord, on freelance payments. But most people just see the deducted amount and move on without understanding why it's that number or whether it's even correct. This calculator helps you figure both things out.
Tax Deducted at Source is exactly what it sounds like โ tax collected at the point of income rather than at the end of the year. The person making the payment โ your employer, the bank, your tenant โ is called the deductor. They're legally responsible for deducting the right amount and depositing it with the government under your PAN. When you file your ITR, the TDS already paid gets credited against your total liability. If too much was deducted, you get a refund. If too little, you pay the balance.
Your employer estimates your total taxable income for the year, subtracts the deductions you've declared (80C, HRA, home loan interest etc.), and applies the applicable tax slab to arrive at your annual tax liability. That annual number gets divided by 12 and deducted every month. If you switch jobs mid-year, always submit Form 12B to your new employer showing TDS already deducted โ otherwise your new employer recalculates from scratch and you'll end up owing tax at filing time.
Banks deduct TDS at 10% on FD interest when it crosses โน40,000 per year (โน50,000 for senior citizens) from a single bank. If your total income is below the taxable limit, submit Form 15G (or Form 15H for seniors) to request nil TDS deduction.
Form 26AS is the document you need โ it shows all TDS deducted against your PAN from every source. Download it from incometax.gov.in and cross-check with your payslips, bank statements, and Form 16. Discrepancies need to be resolved before you file your ITR. Your final tax liability feeds directly into our income tax calculator โ use both together to get the complete picture.
You'll get a refund when you file your ITR. The excess TDS shows up in Form 26AS, and the Income Tax Department initiates the refund to your bank account after processing. Usually takes 2โ6 months after filing if everything is in order.
Yes, if you withdraw before 5 years of continuous service and the amount exceeds โน50,000. TDS is deducted at 10% if PAN is provided, 20% without PAN. Withdrawals after 5 years of service are exempt from both tax and TDS.
Yes. File your ITR and the TDS will be fully refunded. Even if no tax is owed, filing is the only way to get the deducted amount back.
TDS is deducted by the payer โ you don't do it yourself. Advance tax is self-calculated and paid by you in four instalments when your tax liability (excluding TDS) exceeds โน10,000. Salaried employees whose employer correctly deducts TDS typically don't need to pay advance tax unless they have additional income from other sources.