How to Get a TDS Certificate For Fixed Deposits | Motilal Oswal

How to Get a TDS Certificate For Fixed Deposits


A TDS certificate is concrete evidence that tax has been deducted from your income. It is helpful in the calculation of income and availing of tax credits. This comprehensive guide will explain the provisions related to a tax deduction on FD interest, eligibility and process of obtaining TDS certificate. You can ensure maximised tax savings by adhering to the TDS regulations. Let's delve into the details together.

Understanding TDS on Fixed Deposits

Tax Deducted at Source (TDS) is a mechanism employed by the Indian government to collect taxes at the time of income generation. When you have a fixed deposit, the interest earned is subject to TDS. The deduction rate of tax from your fixed deposit interest is determined by the prevailing TDS rates established by the Government. Remember that TDS is applicable only if the interest payments surpass a specific threshold limit. For individuals below 60 years of age, the current threshold limit is set at Rs. 40,000, while for senior citizens, it stands at Rs. 50,000. By understanding these parameters, you can ensure proper compliance with TDS regulations based on age and the amount of interest received.

Obtaining a TDS certificate for your fixed deposit is crucial for several reasons. Firstly, it acts as evidence that tax has been deducted at the source and the deductor has deposited that tax with the Government. Additionally, the TDS certificate helps in calculating your taxable income and claiming tax credits while filing your income tax returns. 

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Eligibility and Applicability

Not everyone is eligible to obtain a TDS certificate for their fixed deposits. Typically, individuals and entities who have been subject to tax deductions on their fixed deposit interest are eligible to apply for a TDS certificate. Furthermore, the applicability of TDS also varies based on factors like the amount of interest earned and the type of fixed deposit held. These variables determine whether TDS is applicable in your specific case. Understanding these nuances helps you to assess whether the tax has been rightly deducted and how to obtain a certificate for the same. 

Steps to Obtain a TDS Certificate

Step 1: Verification of TDS Deduction

The first step in obtaining a TDS certificate is to verify whether TDS has been deducted from your fixed deposit interest. To do this, you can check your Form 26AS, which provides a consolidated view of TDS deducted by various persons, including banks. You can access your Form 26AS through the income tax department's website or the net banking facility provided by your bank. Additionally, you should review your bank account statements to confirm if TDS has been deducted.

Step 2: Contacting the Bank or Financial Institution 

After verifying that TDS has been deducted from your fixed deposit interest, the next step is to contact the concerned bank branch or financial institution where your fixed deposit is held. Remember to gather the essential contact information, such as phone numbers or email addresses, to reach out to their customer service or designated TDS department. It is recommended to keep your fixed deposit details, including the account number and branch information, easily accessible when contacting the bank. This will ensure a smooth and efficient communication process when initiating your TDS certificate request.

Step 3: Submitting Required Documents

You will need to submit details such as PAN. Obtain the necessary application form for a TDS certificate, either from the bank or by downloading it from their official website. Fill out the form accurately and provide the requested supporting documents, such as copies of your fixed deposit receipts or any other relevant paperwork as specified by the bank.

Utilising the TDS Certificate

Once you receive the TDS certificate from your bank, it is crucial to utilise it appropriately. The TDS certificate is an essential document for filing your income tax returns. Ensure you accurately report the income and TDS details mentioned in the certificate while filing your taxes. The TDS certificate also allows you to claim tax benefits and exemptions related to your fixed deposit interest income, ultimately maximising your financial benefits. After accounting for any applicable deductions and exemptions, you can use an FD calculator to determine how much tax you will owe on your FD interest.


Getting a TDS certificate for your fixed deposit is crucial for income Tax compliance and maximising tax benefits. Following the steps outlined in this guide and staying in touch with your bank, you can simplify the process and obtain the necessary documentation for your Income Tax returns. 

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