{"id":11589,"date":"2026-01-31T03:44:46","date_gmt":"2026-01-31T03:44:46","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=11589"},"modified":"2026-08-04T15:17:18","modified_gmt":"2026-08-04T09:47:18","slug":"how-much-tax-is-deducted-on-fd-interest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/","title":{"rendered":"FD Interest Tax Explained: How Much TDS Will Be Deducted?"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"Fixed_deposit_FD_interest_is_fully_taxable_and_added_to_your_total_annual_income_Banks_deduct_Tax_Deducted_at_Source_TDS_at_10_or_20_if_you_do_not_provide_your_PAN_if_your_yearly_interest_crosses_%E2%82%B950000_for_regular_individuals_or_%E2%82%B9100000_for_senior_citizens\"><\/span><span data-subtree=\"aimfl,mfl\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 400; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">Fixed deposit (FD) interest is fully taxable<\/span> and added to your total annual income. Banks deduct <strong class=\"rQesXe MPyX\" data-sfc-cp=\"\" data-sfc-root=\"ep\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 700; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">Tax Deducted at Source (TDS)<!--TgQPHd|||[]--><\/strong> at <strong class=\"rQesXe MPyX\" data-sfc-cp=\"\" data-sfc-root=\"ep\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 700; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">10%<!--TgQPHd|||[]--><\/strong> (or <strong class=\"rQesXe MPyX\" data-sfc-cp=\"\" data-sfc-root=\"ep\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 700; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">20%<!--TgQPHd|||[]--><\/strong> if you do not provide your PAN) if your yearly interest crosses <strong class=\"rQesXe MPyX\" data-sfc-cp=\"\" data-sfc-root=\"ep\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 700; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">\u20b950,000<!--TgQPHd|||[]--><\/strong> for regular individuals or <strong class=\"rQesXe MPyX\" data-sfc-cp=\"\" data-sfc-root=\"ep\" data-copy-service-computed-style=\"font-family: &quot;Google Sans&quot;, Arial, sans-serif; font-size: 16px; font-weight: 700; margin: 0px; text-decoration: none; border-bottom: 0px rgb(10, 10, 10);\">\u20b9100,000<!--TgQPHd|||[]--><\/strong> for senior citizens.\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p><span style=\"font-weight: 400;\">For many people in India, FD interest serves as a source of passive income. But do you know that the interest on <\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/corporate-fixed-deposit\/what-is-a-fixed-deposits\/\"><span style=\"font-weight: 400;\">fixed deposits<\/span><\/a><span style=\"font-weight: 400;\"> is taxable? Here\u2019s how tax on FD interest works:<\/span><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Fixed_deposit_FD_interest_is_fully_taxable_and_added_to_your_total_annual_income_Banks_deduct_Tax_Deducted_at_Source_TDS_at_10_or_20_if_you_do_not_provide_your_PAN_if_your_yearly_interest_crosses_%E2%82%B950000_for_regular_individuals_or_%E2%82%B9100000_for_senior_citizens\" >Fixed deposit (FD) interest is fully taxable and added to your total annual income. Banks deduct Tax Deducted at Source (TDS) at 10% (or 20% if you do not provide your PAN) if your yearly interest crosses \u20b950,000 for regular individuals or \u20b9100,000 for senior citizens.\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Tax_on_FD_Interest_How_Much_Tax_is_Deducted_on_FD_Interest\" >Tax on FD Interest: How Much Tax is Deducted on FD Interest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Rates_for_TDS_on_FD_interest_are_as_follows\" >Rates for TDS on FD interest are as follows:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#TDS_Exemption_Limit_for_FD_Interest_2026\" >TDS Exemption Limit for FD Interest (2026)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#How_TDS_is_Calculated_on_FD_Interest_Examples\" >How TDS is Calculated on FD Interest: Examples<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#How_to_Avoid_TDS_on_FD_Interest\" >How to Avoid TDS on FD Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Key_Things_to_Note_About_TDS_on_FD_Interest\" >Key Things to Note About TDS on FD Interest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Summing_Up_Tax_on_FD_Interest\" >Summing Up Tax on FD Interest&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Tax_on_FD_Interest_FAQs\" >Tax on FD Interest FAQs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">10% TDS is deducted by banks at source if your FD interest income is more than a certain threshold limit in a year<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">FD interest income is added to your annual income during ITR filing and taxed at slab rates<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">But what are these TDS threshold limits? Are they the same for regular depositors and senior citizens? Understanding all this is important because the tax on FD interest impacts <\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/fd-returns-on-1-lakh-for-1-year\/\"><span style=\"font-weight: 400;\">how much you can earn from the FD<\/span><\/a><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In this article, we answer all these questions and more, covering everything from TDS rates and TDS exemption limits to ways you can avoid TDS deductions in detail.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_on_FD_Interest_How_Much_Tax_is_Deducted_on_FD_Interest\"><\/span><b>Tax on FD Interest: How Much Tax is Deducted on FD Interest<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Under Section 194A of the Income Tax Act, banks and financial institutions have to deduct TDS on FD interest if your annual interest income exceeds Rs. 50,000 (Rs. 100,000 for seniors) in a financial year.\u00a0<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rates_for_TDS_on_FD_interest_are_as_follows\"><\/span><span style=\"font-weight: 400;\">Rates for TDS on FD interest are as follows:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">10%: If PAN is available<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">20%: If PAN is not available<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Deductions are made quarterly, and the bank issues Form 26AS as a TDS certificate, which you can use to tally your tax liabilities when filing your ITR.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">But please note that TDS on FD interest is simply the prepayment of your income tax liability. The actual income tax on FD interest depends on your annual income and the applicable tax slab. This income tax on interest from fixed deposits is payable when you file your taxes.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Latest Bond Updates:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-report-bond-income-in-itr-2-itr-3-2026-guide\/\" aria-label=\"How to Report Bond Income in ITR-2 &amp; ITR-3: 2026 Guide\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"How to report bond income in ITR 3 and ITR 3\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20183746\/How-to-report-Bond-Income-ITR-3-and-ITR-3.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-report-bond-income-in-itr-2-itr-3-2026-guide\/\">How to Report Bond Income in ITR-2 &amp; ITR-3: 2026 Guide<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/rbi-repo-rate-cut-how-it-changes-coupons-on-new-ncds\/\" aria-label=\"RBI Repo Rate Cut: How It Changes Coupons on New NCDs\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"RBI Repo Rate Cut\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21162332\/RBI-Repo-Rate-Cut.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/rbi-repo-rate-cut-how-it-changes-coupons-on-new-ncds\/\">RBI Repo Rate Cut: How It Changes Coupons on New NCDs<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/switching-from-fixed-deposits-to-ncds\/\" aria-label=\"Switching From FDs to NCDs in 2026: What Investors Should Know\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Switching from FDs to NCDs in 2026\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/21153742\/Switching-from-FDs-to-NCDs-in-2026.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/switching-from-fixed-deposits-to-ncds\/\">Switching From FDs to NCDs in 2026: What Investors Should Know<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TDS_Exemption_Limit_for_FD_Interest_2026\"><\/span><b>TDS Exemption Limit for FD Interest (2026)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Earlier, the TDS limit on FD interest was Rs. 40,000 for regular depositors and Rs. 50,000 for seniors. But this changed with the Union Budget 2025.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Effective 1st April 2025, banks will deduct TDS on interest from FDs for regular depositors if the total interest income earned from all your FDs in a single bank exceeds Rs. 50,000 in a financial year.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Similarly, for senior citizens, banks will deduct TDS on interest from fixed deposits if the total interest income earned from all FDs in a single bank exceeds Rs. 1 Lakh in a financial year.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Here\u2019s how the new exemption limits for TDS on FD interest compare to the previous limits:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><b>Type of Depositor<\/b><\/td><td><b>New TDS Exemption Limit<\/b><\/td><td><b>Old TDS Exemption Limit<\/b><\/td><\/tr><tr><td><span style=\"font-weight: 400;\">Regular Citizens (under 60 years of age)<\/span><\/td><td><span style=\"font-weight: 400;\">Rs. 50,000<\/span><\/td><td><span style=\"font-weight: 400;\">Rs. 40,000<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400;\">Senior Citizens (above 60 years of age)<\/span><\/td><td><span style=\"font-weight: 400;\">Rs. 1,00,000<\/span><\/td><td><span style=\"font-weight: 400;\">Rs. 50,000<\/span><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Explore Bonds<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p><a href=\"https:\/\/goldenpi.com\/collections\/high-yield-bonds?sutm_source=blog&amp;sutm_medium=explore_bonds_seo&amp;sutm_campaign=internal_cta&amp;sutm_content=high_yield_bonds\">High Yield Bonds<\/a> | <a href=\"https:\/\/goldenpi.com\/corporate-bonds?sutm_source=blog&amp;sutm_medium=explore_bonds_seo&amp;sutm_campaign=internal_cta&amp;sutm_content=corporate_bonds\">Corporate Bonds<\/a> | <a href=\"https:\/\/goldenpi.com\/collections\/tax-free-bonds?sutm_source=blog&amp;sutm_medium=explore_bonds_seo&amp;sutm_campaign=internal_cta&amp;sutm_content=tax_free_bonds\">Tax Free Bonds<\/a> | <a href=\"https:\/\/goldenpi.com\/?sutm_source=blog&amp;sutm_medium=explore_bonds_seo&amp;sutm_campaign=internal_cta&amp;sutm_content=buy_bond_platform\">Buy Bond Platform<\/a><\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_TDS_is_Calculated_on_FD_Interest_Examples\"><\/span><b>How TDS is Calculated on FD Interest: Examples<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Let\u2019s look at a couple of scenarios to understand how TDS on FD interest is actually calculated:<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Scenario 1:<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Mr. Amit is a 45-year-old depositor who has opened an FD of Rs. 800,000 at 7.5% p.a. So, the annual interest he earns in this case will be Rs. 61,709.\u00a0<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Since this amount exceeds the Rs. 50,000 threshold for general depositors and he has linked his PAN details with the FD account, the bank deducts a 10% TDS on the FD interest amount. This means:<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">TDS = 10% of Rs. 61,709 = 6,170<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Interest Credited = Rs. 61,709 &#8211; Rs. 6,170<\/span> <span style=\"font-weight: 400;\">= <\/span><b>Rs. 55,539\u00a0<\/b><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Scenario 2:<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Mr. Rahul is a 62-year-old senior citizen FD depositor who has opened an FD of Rs. 800,000 at 8% p.a. interest. Now, the annual interest he earns on the sum is Rs. 65,946<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Since Mr. Rahul is a senior citizen (who has submitted Form 15H) and the new TDS rules have a limit of Rs. 1 Lakh for seniors, no TDS is deducted from his FD interest income. But he will still have to list his FD earnings as \u2018Income from Other Sources\u2019 while filing ITR.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Scenario 3:&nbsp;<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Mr. Mohit is a 35-year-old regular depositor who has opened an FD of Rs. 700,000 at 7.8% p.a. interest. Now, the annual interest he earns from this FD is Rs. 56,218.\u00a0<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In normal circumstances, the bank would deduct 10% as TDS on FD interest. But Mr. Mohit did not submit his PAN details. As a result, the TDS rate is 20%. This means:<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">TDS = 20% of Rs. 56,218 = Rs. 11,244 (rounded off)<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Interest Credited = Rs. 56,218 &#8211; Rs. 11,244<\/span> <span style=\"font-weight: 400;\">= <\/span><b>Rs. 44,974<\/b><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Avoid_TDS_on_FD_Interest\"><\/span><b>How to Avoid TDS on FD Interest?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">If your annual income is below the taxable limit (Rs. 4 lakh under the new regime), you can avoid TDS deductions on FD interest by submitting Form 15G\/15H to the bank. These self-declaration forms certify that your annual tax liability for the year is zero, so the bank doesn\u2019t have to deduct any tax at source.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Let\u2019s understand which form is applicable as per depositor type:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><b>Form 15G:<\/b><span style=\"font-weight: 400;\"> If you are a regular depositor below 60 years of age, you have to use Form 15G.<\/span><\/li>\n\n\n\n<li><b>Form 15H: <\/b><span style=\"font-weight: 400;\">If you are a senior citizen above 60 years of age, you have to use Form 15H\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Please note that submitting these forms does not mean there will be no income tax on FD interest or that your interest income is tax-exempt. You still have to declare the interest income from your FDs while filing your income tax returns.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Things_to_Note_About_TDS_on_FD_Interest\"><\/span><b>Key Things to Note About TDS on FD Interest<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Here are some important points you should remember about the application of tax on fixed deposit interest:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">The Rs. 50,000 (Rs. 1 Lakh for seniors) threshold is applicable for all FDs you hold with a particular bank or financial institution. So, if you hold FDs with multiple banks, this limit applies separately to each bank.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">You don\u2019t have to pay TDS on FD interest if your total interest income is less than Rs. 50,000 in a given financial year, provided you submit Form 15G\/15H.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Senior citizens have a higher exemption limit, which can help them save taxes on their <\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/how-to-build-a-monthly-pension-using-bonds\/\"><span style=\"font-weight: 400;\">post-retirement income.<\/span><\/a><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">You have to submit Form 15G\/15H at the beginning of the year, and it must be renewed annually.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">In case you failed to submit these waivers on time and TDS was deducted, you can claim it as a refund (if your income is below the basic exemption limit) when filing ITR.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">If you have an outstanding income tax liability, you can adjust the TDS deducted by banks\/financial institutions while filing your taxes. But keep Form 26AS (TDS Certificate) issued by the bank handy.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Summing_Up_Tax_on_FD_Interest\"><\/span><b>Summing Up Tax on FD Interest&nbsp;<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">So now you understand that interest from fixed deposits is taxable in India on two levels:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Banks deduct 10% (20% without PAN) if your annual interest earnings are more than Rs. 50,000 (Rs. 1 Lakh for seniors)<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Interest income is added to your annual earnings and taxed as per your slab rate<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">But if your total annual income is below the minimum threshold, you can submit Form 15G (15H for seniors) to avoid TDS deductions.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Looking for a way to grow your savings? <\/span><a href=\"https:\/\/goldenpi.com\/blog\/\"><span style=\"font-weight: 400;\">GoldenPi <\/span><\/a><span style=\"font-weight: 400;\">offers a range of fixed-income products, including FDs and bonds, from top issuers.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_on_FD_Interest_FAQs\"><\/span><b>Tax on FD Interest FAQs<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1785836156002\"><strong class=\"schema-faq-question\">Q1<b>. How is FD interest taxed in India in 2026?<\/b><\/strong> <p class=\"schema-faq-answer\"><span style=\"font-weight: 400;\">FD interest is added to your annual income and taxed under the \u2018Income from Other Sources\u2019 header. Banks also collect TDS at 10% (20% if PAN is not submitted) if the annual interest earned on all FDs with the same bank exceeds Rs. 50,000 (Rs. 1 Lakh for seniors).<\/span><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1785836172683\"><strong class=\"schema-faq-question\">Q<b>2. Can I claim a refund for the TDS charged on FD interest?<\/b><\/strong> <p class=\"schema-faq-answer\"><span style=\"font-weight: 400;\">Yes. If the bank has deducted TDS on your FD interest earnings but your total income is below the taxable limit, you can claim the amount deducted as TDS while filing taxes.<\/span><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1785836184611\"><strong class=\"schema-faq-question\">Q<b>3. How much of my FD interest is tax-free?<\/b><\/strong> <p class=\"schema-faq-answer\"><span style=\"font-weight: 400;\">If you are a regular depositor below the age of 60 years, your annual FD interest of up to Rs. 50,000 will be tax-free. However, if you are a senior citizen, you can benefit from a higher exemption limit of up to Rs. 1 Lakh\/year.\u00a0<\/span><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1785836202552\"><strong class=\"schema-faq-question\">Q<b>4. How is TDS on fixed deposit interest calculated?<\/b><\/strong> <p class=\"schema-faq-answer\"><span style=\"font-weight: 400;\">TDS on FD interest is calculated at a standard rate of 10% if you\u2019ve submitted your PAN Card details. However, if you have not submitted your PAN details, TDS is applicable at 20%.<\/span> <span style=\"font-weight: 400;\">Banks deduct this TDS from your fixed deposit interest earnings before crediting the remaining amount.<\/span><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1785836219290\"><strong class=\"schema-faq-question\">Q<b>5. Do I have to pay income tax on FD interest?<\/b><\/strong> <p class=\"schema-faq-answer\"><span style=\"font-weight: 400;\">Interest on a fixed deposit is taxable under the Income Tax Act. You have to list it under the \u2018Income from Other Sources\u2019 header and add it to your total annual income. Post that, tax on interest from a fixed deposit is applicable as per your income tax slab.<\/span><br><br><span style=\"font-weight: 400;\">However, if your income is below the basic exemption limit, you don\u2019t have to pay income tax on interest from a fixed deposit.\u00a0<\/span><\/p> <\/div> <\/div>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n\n\n\n<script type=\"application\/ld+json\">\n[\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"BlogPosting\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/#article\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/fixed-deposit\/how-much-tax-is-deducted-on-fd-interest\/\"\n    },\n    \"headline\": \"FD Interest Tax Explained: How Much TDS Will Be Deducted?\",\n    \"description\": \"Wondering how much tax is deducted on FD interest? 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An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/author\/seo-agency\/\"\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"Organization\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/#organization\",\n    \"name\": \"GoldenPi Technology Pvt Ltd\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/\",\n    \"logo\": {\n      \"@type\": \"ImageObject\",\n      \"url\": \"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/05\/18105628\/GoldenPi-Lean-Logo.png\"\n    },\n    \"sameAs\": [\n      \"https:\/\/www.facebook.com\/goldenpitech\",\n      \"https:\/\/x.com\/GoldenPiTech\",\n      \"https:\/\/www.linkedin.com\/company\/goldenpi\/\"\n    ]\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"WebSite\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/#website\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/\",\n    \"name\": \"GoldenPi | Blogs\",\n    \"description\": \"All about bonds online in India\"\n  }\n]\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcdd Quick Summary: Fixed deposit (FD) interest is fully taxable and added to your total annual income. Banks deduct Tax Deducted at&hellip;<\/p>\n","protected":false},"author":8,"featured_media":15368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[225,25],"tags":[19,41,58,59],"class_list":["post-11589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fixed-deposit","category-bond-news","tag-fixed-income-investments","tag-fixed-income","tag-fixed-income-securities","tag-fixed-deposits"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FD Interest Tax Explained: How Much TDS Will Be Deducted?<\/title>\n<meta name=\"description\" content=\"Wondering how much tax is deducted on FD interest? 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