It is an act based on the FORM 26AS or TDS Claim and income is deducted in salary. It is an policy that come under the act of section 194I and or section 194-IB. In this any citizen belong to India and he is living in a rented house can reduce the income tax at a rate of 2% for machinery/plant and 10% for renting in any building or any house. This can be done through cheque or DD or any online mode
[ Also Read : Pan Card Apply Online ]
How To Claim TDS Refund Policy Online
- Visit the official portal of the IT department by using your
- login id and password
- after this fill your application details such as
- name
- address and your gross salary
- After filling this you need to know your acknowledgement on a digital signature.
- It will take 1 to 4 months to get the refund amount to credit to your bank account.
Overview of TDS Claim
| Name of Scheme | Launched By | Beneficiary | Objective | Official Website | Launched Year | Mode of Application |
|---|---|---|---|---|---|---|
| TDS Refund | Income Tax Department, Government of India | Taxpayers who have paid excess tax by way of TDS | To refund the excess tax deducted at source to the taxpayers | [incometaxindia.gov.in] | N/A | Online |
How To Check TDR Refund Status
The process of income tax refund tax should be apply and check online
- First of all visit the official website of it or open this link @ http://www.incometaxindafiling.gov.in
- After entering in this website fill the pan details and select your year to which you want to refund the money and submit your information.
- Reason for the failure you have to mention and mode of payment
- There you can see the status of your refund process
How To File a Return TDS Online
- Go to the website of Income Tax Department: https://incometaxindiaefiling.gov.in/ and click on Login. Enter your username and password.
- After login, click on TDS and then click on Upload TDS option.
- Next, enter the details of your TDS statement and click on Validate.
- Upload the TDS zip file that you have prepared using the utility from tin-NSDL Website.
- You also need to fill Form 27A with the summary of your TDS statement and the amount of tax paid. Fill all the columns carefully and match the amount with your forms.
- You need to have PAN cards of yourself and the person who paid you². You also need to have details of TDS challan and other papers if needed.
- After uploading the TDS zip file and Form 27A, you will get a confirmation message. You can check the status of your TDS return on the website later.
What are the Benefits of TDS
- TDS ensures timely collection of tax revenue for the government.
- reduces the burden of paying a lump sum tax at the end of the year for the taxpayer.
- It helps in tracking and verifying the income and tax liability of the taxpayer.
- this process prevents tax evasion and fraud by creating a record of transactions and payments.
Frequently Asked Questions
Q .What is TDS refund ?
A .It is the excess tax paid by way of TDS over actual tax liability
Q .How to claim TDS refund online?
A . File income tax return with relevant form and bank details on IT website.
Q .How to avoid TDS deduction on FD interest?
A .Submit Form 15G or 15H to bank if your income is below exemption limit.
Q.How to check TDS refund status?
A . Log in to IT website, go to ‘My Account’ and click on ‘Refund/Demand Status’.
Q .How long does it take to get TDS refund?
A .Usually within 20-45 days from the date of e-verification of ITR
