TDS deducted after force sending out from Tech Mahindra.

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An ex-Tech Mahindra employee received a significant TDS deduction of Rs 31,000 on a Rs 1,60,000 settlement after being forced to leave due to lack of projects. They are seeking an explanation for this deduction and advice on how to reclaim the amount. The advice given suggests checking TDS based on applicable slab rates, obtaining Form 16 from the employer, verifying TDS in Form 26AS, and filing an income tax return to claim any excess deduction.

Bikram

Bikram (Querist)

12 February 2020 Hi,
I was forced to move out from the company Tech Mahindra due to lack of project recently and had to accept a lump sum amount approximately for 3 months salary. In this amount the company has deducted an unbelievable amount of TDS around Rs 31000 out of my lump sum amount Rs160000/-. My package is 6.5 lacs per annum. Could any one please help me to understand this calculation of TDS deduction and is there any way to get this amount back to my account.

Thanks and regards,

Gokul Sharma

Gokul Sharma (Expert)

12 February 2020 tds should be deducted on the basis of slab rate pplicable for the f.y.
however if tds excess deducted you can claim refund by filling of income tax return.
also demand form 16 from your employer. and check your 26AS

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