TDS Calculator

Tax deducted at source on salary, interest or professional fees.

Overview

Computes Tax Deducted at Source (TDS) on contractual professional fees, contractor payments, fixed deposit interest, and commercial rent.

Formula & Calculation Method

TDS Amount = Gross Payment × (Section TDS Rate / 100) | Net Payable = Gross - TDS

Statutory deduction rates vary by section: 194J (Professional fees 10% or 2%), 194C (Contractor 1% or 2%), 194A (Interest 10%), 194I (Rent 10%).

Worked Example: Freelance Invoice of ₹1,00,000 under Section 194J (10%)

Inputs: Gross Professional Fee = ₹1,00,000 | TDS Section = 194J (10%)

  • TDS deduction = ₹1,00,000 × (10 / 100) = ₹10,000
  • Net payment disbursed to freelancer = ₹1,00,000 - ₹10,000 = ₹90,000
  • Client deposits ₹10,000 to government via Challan 281 and issues Form 16A

Summary: Gross Bill = ₹1,00,000 | TDS Deducted = ₹10,000 | Net Disbursed = ₹90,000

Common Use Cases

  • Freelance Invoicing: Calculate net receipts expected after clients deduct TDS under Section 194J.
  • Landlord Rent Receipts: Assess commercial rental income deductions under Section 194I.
  • Vendor Billing: Reconcile quarterly Form 26AS and AIS tax credits against client payment vouchers.

Frequently Asked Questions

How can I verify if my client deposited deducted TDS?

Check your Form 26AS or Annual Information Statement (AIS) on the income tax portal using your PAN.

What is Form 16A?

A quarterly certificate issued by the deductor specifying the amount of TDS deducted and deposited on non-salary payments.

Can I get a refund of deducted TDS?

Yes, if your total annual tax liability calculated in your ITR is less than the TDS deducted, you receive a direct bank refund.

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