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What is TDS on Fixed Deposit?

TDS on Fixed Deposit

Tax deducted at source (TDS) on Fixed Deposits can range from 0% to 30%, depending on your income tax bracket.

• If your interest earned is more than Rs.10,000 in a year, the TDS deducted is:
• 10% if your PAN details are provided
• 20% if your PAN details are not provided
• If your total income is below the minimum slab, you can claim a refund of the TDS deducted.

To avoid TDS deduction,
• Submit Form 15G to your NBFC or bank, if you fall under the minimum tax slab
• Submit Form 15H if you’re a senior citizen

If you fall in the higher tax bracket (20% or 30%), you need to pay extra tax over and above the TDS deducted by your NBFC or bank.

Choose your Fixed Deposit amount

INR

Choose your investment tenor (in months)

Months

Rs. 1,85,520

is your principal amount

Rs. 1,85,520

is Your maturity amount

66,429

is Your interest earned

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