How to Claim TDS Refund Online in 2023?

As a responsible citizen of the world’s largest democracy, you have to follow a certain set of rules and pay your taxes on time. Income tax is levied on every individual who earns a decent amount of money irrespective of their age.

There are different income tax slabs that decide the amount of income tax one has to pay. One such income tax payment method is TDS; which is an abbreviation for Tax Deducted at Source.

TDS is nothing but a specific amount of money that is deducted by the employer or an individual from salary or payments as income tax respectively.

Any company or any person who has to make payments has to deduct tax at the source if the payment exceeds a certain limit as per the income tax act.

However, the payment of income tax is levied on the person receiving the payment from a company or an individual.

But it is the responsibility of the employer to deduct the tax at source on salary at the employer’s ‘average rate’ of income tax.

If the employer or the deductee fails to submit a proper certificate before the deadline, to claim various TDS the deductor might deduct TDS in excess of liability.

What is a TDS Certificate?

  • Form 16 is for salary payments.
  • Form 16A is for non-salary payments.
  • Form 16B is for the sale of the property.
  • Form 16C is for rent payments.

You can claim your refund with ease by filing an ITR. TDS is a form of advance tax that is paid to the Central Government by the deductor. However, the deductee can later claim a refund of the TDS.

You can get a TDS refund only when the tax deducted at the source by the employer is more than the right taxable amount as per the tax slab that is submitted at the end of every year.

You must clearly mention the amount of the TDS refund after properly calculating the difference between the amount deducted and the amount of tax payable.

To claim a TDS refund, you have to fill out the application form and file income tax returns. You have to clearly mention the amount of the refund while filing the income tax returns.

How to Claim TDS Refund Online

How to Claim TDS Refund Online?

To claim the TDS refund online, all you have to do is provide accurate bank details to the Income Tax department. You have to file the income tax returns by the end of the financial year and provide the relevant bank details.

Application Procedure:

• Visit the official website of the Income-tax department and login into the IT portal by using your username and password.

• Download the ITR filing form and fill in the relevant details along with other details regarding your bank account as well as other personal details.

• You will find the number of TDS refunds on your form and after doing so you have to acknowledge an ITR-V receipt.

• Sign the same digitally using your Aadhar card OTP or via net banking.

• If you are unable to verify the ITR online, then you verify the same by sending a hard copy of the ITR to the respective Income Tax department.

How to Check TDS Refund Status Online?

  • Log in to the e-Filing official website with a User ID & Password, Date of Birth.
  • Go to My Account and click on “Refund/Demand Status”.
  • You will see the details of your refund.

TDS Refund Period:

You will get your TDS refund within 4 months directly in your bank account or via a cheque. The refund time to be credited can also depend on the process of the e-verification.

How to Track Your Income Tax Refund?

  • Log in to the eFiling official website (User ID, password, DOB).
  • Then click “Refund/Demand Status” from the “My Account” section.
  • You can see the evaluation time, status, and reason if your refund fails.

You can track the status of your TDS refund, and ITR by visiting the official website.

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