FD and RD Calculator
Work out maturity on a fixed deposit or a recurring deposit, including TDS on the interest.
- When is TDS deducted on fixed deposit interest?
- Banks deduct 10% once interest across your deposits with them exceeds ₹40,000 in a year, or ₹50,000 if you are a senior citizen. If your total income is below the taxable limit you can file Form 15G or 15H to stop the deduction.
- Is FD interest taxable even if I do not withdraw it?
- Yes. Interest is taxed on accrual at your slab rate, in the year it accrues, whether or not the deposit has matured.