tds
This query is : Resolved
13 March 2011
sir, i am a contract employee and rs. 900 is deducting from my salary every month as tds(annual salary-2.45 lakh).is it possible to get back this amount ,as fy2010-2011 will end this month.this month i got pancard(march -11)
13 March 2011
Your Salary is 2.45 lacs.
Exemption limit is Rs 1.6 lacs(Assuming you are not a senior citizen).
Now only way to get the refund is to file your IT Return showing taxable income as nil and you will get the TDS amount as refund.
To show taxable income as Nil you need to make investment and claim deduction u/s 80C.
Exemption limit is Rs 1.6 lacs(Assuming you are not a senior citizen).
Now only way to get the refund is to file your IT Return showing taxable income as nil and you will get the TDS amount as refund.
To show taxable income as Nil you need to make investment and claim deduction u/s 80C.
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