How Much Tax Deducted at Source (TDS) Can You Claim?

Learn how to calculate and claim your Tax Deducted at Source (TDS) efficiently with our step-by-step guide.

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The amount of Tax Deducted at Source (TDS) you can claim depends on your total taxable income and the tax deducted. To calculate, review your Form 16/16A and compare the deducted TDS with your actual tax liability. Claim the refund for any excess TDS by filing your Income Tax Return (ITR). Use the official income tax portal to maximize accuracy and adherence to current tax laws.

FAQs & Answers

  1. What is TDS in income tax? Tax Deducted at Source (TDS) is a means of collecting income tax in India, whereby the tax is deducted at the time of payment. It is applicable to various incomes such as salaries, interest, and dividends.
  2. How can I check my TDS deductions? You can check your TDS deductions by reviewing your Form 16 or Form 16A, which your employer or deductor issues, and by accessing your Tax Credit Statement (Form 26AS) through the official income tax portal.
  3. Can I claim a refund on TDS? Yes, you can claim a refund on TDS by filing your Income Tax Return (ITR) if the tax deducted exceeds your actual tax liability based on your total taxable income.
  4. What documents are needed to claim TDS? To claim TDS, you need to have your Form 16 or Form 16A, your Tax Credit Statement (Form 26AS), and any relevant documents supporting your income and deductions while filing your Income Tax Return.

Watch More

For those looking to further enhance their understanding of TDS and income tax claims, we recommend exploring related topics such as 'Understanding Form 16/16A', 'How to File Your Income Tax Return', and 'Tax Deductions Explained'. These resources will provide valuable insights and tools needed for efficient tax management.

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