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Section 194A TDS on deposit and loan interest with bank, non-bank and senior citizen thresholds and the no-PAN rate.
This calculator works out the tax deductible at source on interest under section 194A of the Income-tax Act — the 10% cut a bank, post office, company or NBFC makes when yearly interest crosses the statutory limit. From 1 April 2025 those limits are Rs 1,00,000 for a senior citizen depositor, Rs 50,000 for other bank and post office depositors, and Rs 10,000 for any other payer. It also shows what happens without a PAN, where a Form 15G or 15H stops the deduction, and why savings account interest is left alone.
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Separates senior citizen, bank and non-bank thresholds for the year you choose.
Gives the interest that actually lands in the account after deduction.
Explains why an ordinary savings account attracts no 194A deduction but is still taxable.
Rs 50,000 of interest in the financial year from a bank, co-operative bank or post office, and Rs 1,00,000 where the depositor is a senior citizen aged 60 or above. Both figures were raised by the Finance Act 2025 from Rs 40,000 and Rs 50,000 respectively.
10% on interest paid to a resident, with no surcharge or cess. If the depositor has not given a PAN, section 206AA raises the deduction to 20%, and once the limit is crossed the deduction applies to the whole interest, not merely the excess.
No. The section 194A threshold for banks applies to time deposits, and an ordinary savings account is not one, so banks do not deduct on savings interest. The interest is still taxable; a resident individual under the old regime may claim up to Rs 10,000 under section 80TTA, or up to Rs 50,000 of deposit interest under section 80TTB if aged 60 or above.
Only by filing Form 15G, or Form 15H if you are 60 or above, and only if you genuinely meet the conditions in section 197A — broadly that your estimated total income for the year is below the taxable limit. A declaration filed without qualifying is an offence, and the alternative route is a lower or nil deduction certificate under section 197. Discuss your position with a tax professional.
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