Income Tax Return: TDS refund can be claimed by those people whose employer has deducted tax. Whereas the situation of refund will happen when the expected investment declared at the beginning of the year is less than the actual investment made at the end of the year. If you file income tax return as soon as possible, then you can get TDS refund quickly.
Income Tax: Income can be from many sources. At the same time, income tax also has to be paid after a certain amount in India. Income tax is collected through the government. All Indian citizens who earn more than a certain amount are required to pay tax at the current tax slab rates under Indian tax regulations. However, TDS (Tax Deducted at Source) is deducted by the employer even before the salary is credited to your account. Although many people do not know that this TDS amount can also be recovered, as well as many people are not even aware of the TDS claim.
What is TDS refund?
TDS refund can be claimed by those people whose employer has deducted tax. Whereas the situation of refund will happen when the expected investment declared at the beginning of the year is less than the actual investment made at the end of the year. If you file Income Tax Return as soon as possible, then you can get TDS Refund quickly.
How to claim TDS refund?
Calculate your taxable income and tax. File the Income Tax Return (ITR) and request for refund if the tax deducted does not match with the tax paid. After this, the refund will come in the account in a few days.
Information will be sought
At the same time, during the ITR filing process, you will be asked for your bank name and IFSC code. This makes it easier for the Income Tax Department to reimburse the excess tax paid by you. You can request a TDS refund when you file your Income Tax Return (ITR) for the financial year.
