TDS Calculator 2024
Calculate Tax Deducted at Source (TDS) for various income types including professional fees, rent, interest, commission, and salary. Get instant calculation with applicable sections and rates.
TDS rates vary based on income type and applicable sections
Lower TDS rate applicable with PAN
TDS Threshold: ₹30.00 K
TDS is applicable as amount exceeds threshold
Net Amount (After TDS)
₹90.00 K
TDS Deducted: ₹10.00 K @ 10%
Gross Amount
₹1.00 L
TDS Deducted
₹10.00 K
TDS Details
TDS Rate Structure
salary
interest
rent
professional
commission
dividend
Applicable Tax Sections
salary
interest
rent
professional
commission
dividend
About TDS
- Tax Deducted at Source by the payer
- Advance tax collection mechanism
- Credit available against total tax liability
- TDS certificate (Form 16/16A) provided
Important Notes
- Lower rates apply when PAN is available
- TDS applicable only above threshold limits
- Refund available if TDS exceeds actual tax
- Form 15G/15H can avoid TDS for eligible persons
TDS Rates and Threshold Limits 2024
| Income Type | Section | With PAN | Without PAN | Threshold Limit |
|---|---|---|---|---|
| Salary | Section 192 | As per slab | As per slab | ₹2.5 Lakh |
| Interest | Section 194A | 10% | 20% | ₹40,000 |
| Professional Fees | Section 194J | 10% | 20% | ₹30,000 |
| Rent | Section 194I | 10% | 20% | ₹2.4 Lakh |
| Commission | Section 194H | 5% | 20% | ₹15,000 |
| Dividend | Section 194 | 10% | 20% | ₹5,000 |
Major TDS Sections Explained
Section 194A
Interest other than salary
- • Bank interest
- • Fixed deposit interest
- • Recurring deposit interest
- • Corporate bond interest
- • Debenture interest
Section 194J
Professional or technical services
- • Consultant fees
- • Legal services
- • Medical fees
- • Software development
- • Freelance services
Section 194I
Rent payments
- • Office rent
- • Residential rent
- • Machinery rent
- • Equipment rent
- • Land/building rent
Section 194H
Commission and brokerage
- • Sales commission
- • Insurance commission
- • Brokerage
- • Agent commission
- • Discount/bonus
Section 192
Salary payments
- • Basic salary
- • Allowances
- • Bonus
- • Perquisites
- • Leave encashment
Section 194
Dividend payments
- • Equity dividends
- • Mutual fund dividends
- • Cooperative society dividends
- • Company dividends
- • Unit trust dividends
TDS Process and Timeline
Payment and Deduction
At the time of payment, payer deducts TDS as per applicable rates and sections. Deduction happens when payment is made or credited to the recipient's account.
Government Deposit
Deducted TDS must be deposited with the government by 7th of the following month (30th April for March TDS). Late deposit attracts interest and penalties.
TDS Certificate Issuance
Payer issues TDS certificate (Form 16/16A) to the recipient within prescribed time limits. This certificate is required for filing income tax returns.
Tax Credit and Returns
TDS amount gets credited to recipient's tax account and can be claimed as advance tax while filing income tax returns. Excess TDS can be claimed as refund.
TDS Compliance Best Practices
For Deductors
- • Obtain TAN (Tax Account Number)
- • Collect PAN from payees
- • Deduct correct TDS rates
- • Deposit TDS on time
- • File quarterly TDS returns
- • Issue TDS certificates
For Recipients
- • Provide PAN to all payers
- • Collect TDS certificates
- • Verify TDS in Form 26AS
- • Include TDS in tax returns
- • Claim refund if excess TDS
- • Submit Form 15G/H if eligible
Common Mistakes
- • Wrong TDS rate application
- • Late TDS deposit
- • Incorrect section codes
- • Missing TDS certificates
- • Not verifying PAN details
- • Ignoring threshold limits
Financial Calculator FAQs
Everything you need to know about income tax calculations
Need More Help?
Financial planning requires careful consideration of various factors. Consider consulting with a financial advisor for personalized advice based on your specific situation.
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