What is a TDS calculator?
TDS calculator is a simple tool that helps you know whether you are required to deduct TDS or not, and
if yes, then what amount. It enables our users to check whether they had deducted the correct TDS or
not, and in addition to this, it also provides them with a basic insight into related rules of TDS.
Using our TDS calculator is simple, and it can be used no of times; in case you need any expert opinion
in relation to income tax and tax planning, you may contact our experts.
TDS Calculator: how does it work
TDS calculator helps you to get an estimate of the amount which you are liable to deduct on a
particular transaction.
It is an easy-to-use and handy tool to calculate the amount of TDS based on the type of recipient and the nature of the transaction.
To calculate the TDS amount, you need to follow the below-mentioned steps: -
- Select the type of Recipient- Individual/Sole proprietor/HUF or others like company etc.
- If you have a Valid PAN of the person for whom TDS is to be deducted, select yes; otherwise, no.
- Amount of payment to be to the recipient
- Nature of payment
And that's it; you are ready with the amount of TDS required to be deducted.
Benefit of using the TDS Calculator
It provides you with the solution of what amount you are liable to deduct as TDS and the basic principle or rule attached to that particular transaction.
It helps users to check whether the TDS deduction done is accurate or not.
It is easily available with one click.