Covers the two most common individual scenarios: TDS on bank/post office FD interest (Sec 194A) and TDS on rent paid by an individual/HUF tenant (Sec 194IB), for FY 2026-27.
TDS (Tax Deducted at Source) on bank/post office FD interest is deducted at 10% once your annual interest from that specific bank crosses ₹50,000 (₹1,00,000 for senior citizens) under Section 194A. If you don't provide your PAN, this jumps to 20%. You can avoid this deduction entirely by submitting Form 15G (below 60) or Form 15H (60+) if your total income is below the taxable threshold.
For rent, individuals and HUFs not subject to a tax audit must deduct 2% TDS under Section 194IB if their monthly rent exceeds ₹50,000 — this is typically deducted once a year, either from the last month's rent payment or when the tenancy ends, rather than every month.
Yes — submit Form 15G (under 60) or Form 15H (60 and above) to your bank at the start of the financial year, declaring that your total income is below the taxable threshold. This tells the bank not to deduct TDS.
You can claim it back — TDS deducted is reflected in your Form 26AS and can be claimed as a refund when you file your income tax return, even if no tax was actually due.
Yes, but under a different section (194I, not 194IB) with a different threshold (₹6 lakh annual rent) and different rate (10% for land/building) — this calculator covers the individual/HUF tenant scenario under 194IB specifically.