Burdened By Excess TDS Deduction? Here’s How You Can Claim A Refund


Taxpayers can claim their TDS refund by mentioning the deduction in their income tax returns.

New Delhi:

Taxpayers, who face an excess tax deducted at source (TDS) on their earnings, can claim a refund while filing income tax returns. 

TDS is deducted from salary, rent received, return on investment and other such income sources. However, when the deduction exceeds the liability of the taxpayers, the difference in the amount is refunded. If you also have a pending TDS refund, here’s how you claim it.

How To Get TDS Refund

Taxpayers can claim their TDS refund by mentioning the deduction in their income tax returns. After due verification, the I-T department will refund the excess amount in your provided bank account. 

The last date to file the income tax return without any late fee or penalty is July 31. 

Another way to get your TDS claim is by duly submitting Form 15G with your bank with the required information and supporting documents. A lender usually submits TDS online, and a refund request can be placed during the yearly financial declaration.

How To Check TDS Refund Status

* Go to Income Tax Department’s e-filing portal

* Sign in to your account by submitting the required credentials

* Select “View Return / Forms” from the drop-down menu

* Select “Income Tax Returns” from the drop-down menu

* Then enter the relevant assessment year and click on submit

* Finally, select the acknowledgement number from the drop-down menu to view the status of your request

Taxpayers can also track the status of their TDS refund through the refund tracking page on the NSDL website. Here, the person needs to submit the assessment for which they have claimed the refund and submit PAN details before verifying the captcha details.

It usually takes a couple of months for the TDS refund to be processed after it gets sanctioned by the I-T department. An interest rate of 6 per cent per annum is paid along with the refund in cases where the refund is to be paid more than 10 per cent of the total tax payable for the fiscal year. 

The taxpayer will also receive an intimation, under Section 143 (1), regarding the interest payment.



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