Claim and check your TDS refund status online

Claiming a TDS (Tax Deducted at Source) refund online has become a convenient and efficient way to get back the excess tax that might have been deducted from your income. TDS is deducted when payments such as salary, interest, or dividends are made, ensuring tax collection at the source itself. However, there are times when the total TDS deducted exceeds the actual tax liability. In such cases, taxpayers can claim a refund. With the rise of digital platforms, claiming a refund online has simplified the process, allowing users to track their TDS refund status from the comfort of their homes. By understanding the refund process and knowing how to navigate the online system, taxpayers can avoid delays and ensure that they receive the refund they are entitled to.

What is TDS refund?

A TDS refund is the return of excess tax that has been deducted from a taxpayer's income. Typically, when an individual receives income from sources such as salary, rent, or interest, tax is deducted at the source by the payer. The deducted amount is paid directly to the government on behalf of the taxpayer. However, in cases where the deducted amount is higher than the individual’s actual tax liability, a refund is issued for the excess tax paid. For example, if you fall into a lower tax bracket than anticipated, or if you have certain deductions and exemptions that reduce your total tax liability, the TDS already deducted may exceed the actual tax due. This excess amount can be claimed back as a refund by filing the annual income tax return. The refund is processed by the tax authorities and credited to the taxpayer’s bank account.

How to claim TDS refund?

Here are the steps to claim a TDS refund online:

1. File an income tax return (ITR): Ensure you file your ITR for the financial year in which excess TDS was deducted.

1. Verify Form 26AS: Cross-check your Form 26AS to see the total TDS deducted and confirm that all deductions match your records.

1. Submit accurate details: Ensure that the details provided, such as PAN, bank account, and income, are accurate to avoid any processing delays.

1. Track the refund status: After submitting the ITR, you can track the refund status online by visiting the official tax filing portal and entering your PAN and assessment year.

1. Respond to tax notices promptly: If there are discrepancies or queries raised by the tax department, respond quickly to ensure smooth processing.

1. Wait for refund credit: Once processed, the refund will be credited directly to the bank account mentioned in your ITR.

How to claim TDS refund online?

To claim a TDS refund online, follow these steps:

1. File your income tax return (ITR): Calculate your total income and tax liability. If excess TDS has been deducted, you must file an ITR for the financial year.

1. Visit the income tax e-filing portal: Go to the official website at incometaxindiaefiling.gov.in and log in with your credentials or create a new account if you're a new user.

1. Verify TDS with Form 26AS: Ensure all TDS details are correct by downloading and reviewing your Form 26AS.

1. Fill out necessary details: Accurately provide your income, deductions, and bank details, such as the account number and IFSC code, where the refund will be credited.

1. Submit the ITR: Complete the filing process and submit your ITR.

1. Track refund status: You can check the status of your refund by visiting the same portal using your PAN and assessment year.

To learn about TDS waivers, click here, or find information on NOCs from Bajaj Finance here.

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