claiming refund of TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2010 My company is deducting my TDS as a professional although my total income is not chargeable to tax. so i can ask for the refund and if so then what is the procedure and under which form i can do so?
also i want to know that for claiming the refund do i need to file the returns first?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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02 July 2010 You will have to file return first and refund will be claimed in the return itself

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 July 2010 yes. through filing the Return only tax refund can be claimed

Taranjit Singh

Taranjit Singh (Expert)
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02 July 2010 TDS refund can be claimed only at the time of and subsequent to filing of return of income tax. The Income Tax Act has very clearly laid down the rules and regulations governing refund of tax deducted at source. Where the assessee is a person having only taxable income from the head salaries, refund of any excess of tax deducted can be claimed upon filling up the SARAL form. However, where excess TDS refund is claimed on heads of income other than salaries the return of income has to be supported by requisite TDS challans in respect of which such refund is being claimed.

Usually TDS refunds are processed by the government and credited back to the same bank account which has been specified by the concerned assessee in his return of income. Such refund can be processed either through direct account transfer or the government could make out a check in favor of the assessee, depending upon the mode of refund selected by him. Although there is no stipulated time within which TDS refunds need to be processed, it usually takes ten to twelve months from the date of submission of return of income for the relevant financial year. However, if the refund takes abnormally higher amount of time to be processed, the assessee might take this matter up with appropriate authorities, as prescribed by the Income Tax Act.

Although the procedure of claiming TDS refund for individuals having only salary income is simple and can be completed on one’s own, others who have taxable income from multiple sources and are eligible to claim refunds should take professional guidance from tax consultants, practicing chartered accountants or advocates who specialize in handling income tax related matters.

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