Hi
I am a student at IIT Madras. For the financial year 2009-10, I earned Rs1.5 lakhs by doing part time job for 2 companies. Both these companies deducted TDS from each months salary.
Firstly I would like to know since I do not fall under a tax bracket, was it necessary to file for any taxes in March to be eligible for returns? I would like to know what can be done with this TDS I have already paid but I am not liable to. If returns are filed then what is the procedure since there are 2 companies involved. And if I want to carry forward this to the next financial year then what is the procedure.
I have not have had any income prior to this year.
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TDS Query
Replies (1)
For Income of F.Y. 2009-10 is 31, july 2010 u can deposit return up to 31, march 2011, As the companies has deducted your TDS and u r not in tax bracket then may be they deducted TDS on professtional or contractor services u can check it in your form 16A.for refund of TDS you must file the return on due date and it will not carry forward for next year, your TDS amount will comes after deducting your tax liability if any. they either ecs that amount in your account or gives you the cheuqe
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