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TDS DEDUCTION AND HOW TO CLIAM IT ?

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pavan

Private

133 Points Posted on 03 December 2020

MR. A IS ACTING AS AGENT FOR HEALTH CARD COMPANY ..HE IS GETTING COMMISSION + INCENTIVE FOR HIS WORK ...INCENTIVE IS FOR NO OF PERSON ALLOTED IN A CARD PER HEAD 35 RS EX 4 MEMBER MEANS 35*4 =140 RS ...HE ALLOTED 3180 LIVES MEANS RS 111300 INCENTIVE + 94260 COMMISION TOTAL RS 205560 RS HE IS GETTING DURING THIS YEAR...HOW MUCH TDS IS DEDUCTED ? FOR TOTAL RS 205560 ..HE IS AN INDIVIAL SALARIED PERSON WHOS INCOME IS 1.5 LAKH P.A??? MY QUESTION IS TOTAL AMOUNT HE IS GETTING AFTER TDS AND HOW HE SHOULD CLIAM TDS REFUND AND WHEN HE WILL GET THAT REFUND..TRANCTION TOOK PLACE BETWEEN JULY 2020 TO NOV 2020...PLEASE ANSWER ME WITH THE CALCULATION??????

Replies (4)

Quick Summary

This discussion addresses TDS (Tax Deducted at Source) for an agent receiving commission and incentives from a health card company. The agent's total earnings are calculated, and the query focuses on the TDS amount deducted and how the agent, a salaried individual with an annual income of £1.5 lakh, can claim a TDS refund. The refund process is linked to filing the income tax return for the relevant financial year.

ATUL Y

191 Points Posted on 03 December 2020

Refund will be processed after filling income Tax return. As you said that all these transaction occurred between july 2020 to Nov2020 so he will get refund in next year when he will file his income tax return for the f.y. 2020-21.