How to get TDS refund and when?
When actual payment made by the deductor more than the tax deducted at source which want to deductible will be treated as the excess payment made. This amount is to be first adjusted against any existing tax liability under any of the Income Tax Acts. After meeting such liability, the balance amount is to be refunded.
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We will can claim as TDS Refund - When?
1. Tax liability is lower than the amount already deducted as TDS .
2. Tax liability is fall below the minimum taxable limit and TDS has been deducted.
How to Claim TDS refund?
Refund procedure is simple and for getting refund You must file your income tax returns in the normal manner, and without filing of Income Tax return you can not claim for TDS/ Tax refund.
The excess TDS over the tax liability in the year need to shown in the Income tax returns and TDS entry must be match with 26AS statement.
Verification of Income Tax return is essential after filing of ITR , and without that Income Tax department can not processed ITR, and no TDS refund procedure will be complete.