How to Claim TDS: A Step-by-Step Guide | Saptax Hub LLP
Tax Deducted at Source (TDS) is an advance tax collected by the government on various types of payments such as salary, rent, interest, and professional fees. However, taxpayers can claim a refund if excess TDS has been deducted. In this guide, we will walk you through the process of claiming TDS.
Step 1: Check Your TDS Deduction
The first step in claiming a TDS refund is to verify the amount deducted. You can do this by checking Form 26AS on the Income Tax Department’s website. This form provides details of TDS deducted and deposited with the government.
Step 2: File Your Income Tax Return (ITR)
To claim a TDS refund, you need to file your Income Tax Return (ITR). Here’s how:
- Log in to the Income Tax e-Filing portal
- Select the appropriate ITR form based on your income category
- Enter your income details, deductions, and TDS information
- Ensure that the TDS deducted is correctly reflected
- Submit your return before the deadline
Step 3: Verify Your ITR
Once you file your return, you must verify it within 30 days of filing. Verification can be done online through:
- Aadhaar OTP
- Net banking
- Electronic verification code (EVC)
Alternatively, you can send a signed copy of the ITR-V form to the CPC office of the Income Tax Department.
Step 4: Track Your Refund Status
After submitting and verifying your ITR, you can track the status of your TDS refund by:
- Logging into the Income Tax e-Filing portal
- Checking the refund status under the “My Account” section
- Visiting the NSDL website’s “Refund Status” page
Step 5: Receive Your Refund
Once processed, the refund is credited directly to your bank account. Ensure your bank details, including IFSC and account number, are correctly updated in your ITR.
Common Mistakes to Avoid
- Filing ITR after the due date
- Not verifying your return
- Incorrect bank details
- Mismatch in TDS details between Form 16/16A and Form 26AS
By following these steps, you can successfully claim your TDS refund without any hassles. If you need expert assistance in filing your returns, consult Saptax Hub LLP, a trusted CA firm in Delhi specializing in tax compliance and advisory services.
