1. #1
    Unregistered

    Will I be able to retrieve my TDS amount back?

    I am working in an Electronics Company. it is paying me a salary of 2 lacs per annum. TDS has been deducted from my account through company. I am thinking to switch and join a new company. Do I have rights to retreive my TDS money back. If yes then please tell me how can I get my TDS amount back and how much the whole process will take?

  2. #2
    chanchal Array
    Join Date
    May 2013
    Posts
    355

    Re: Will I be able to retrieve my TDS amount back?

    Quote Originally Posted by Unregistered View Post
    I am working in an Electronics Company. it is paying me a salary of 2 lacs per annum. TDS has been deducted from my account through company. I am thinking to switch and join a new company. Do I have rights to retreive my TDS money back. If yes then please tell me how can I get my TDS amount back and how much the whole process will take?
    Hello Aspirant,

    Need not worry.You can get your TDS deduction back as per the rule of income tax.What you will have to do,you will have to submit your income tax return along with form No.16 & form saral which reveals the amount to be deposit or to be refunded as per the provision of the IT act.It is to be submitted for whole year at the beginning of the next year.

    As per the current IT slab,the amount of tax to be deposited is nil,if your IT chargeable income is Rs.2.0 lac.Since you have gross 2.0 lac income,so you will get back the TDS amount from the IT office to your bank account or through cheque.

    So submit your IT return & get back the deducted amount.

    Good luck.

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