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How to Claim a Tax Refund?

If you have overpaid your taxes, you can claim a tax refund. Read ahead to know all about it.

  • Oct 01, 2019

Tax Deducted at Source (TDS) is the tax deducted from an individual’s salary before the amount is credited to his account. The deduction is made annually by the employer. The employers deduct this amount each month. If the amount of TDS collected exceeds what you owe the government, you may be eligible for a TDS refund.

Key takeaways

  • Individuals who have made financial declarations at the start of the year, which are less than the proof of investment submitted at the end of the year, will be eligible for a TDS refund.
  • File a TDS refund claim when the employer deducts more tax than the actual liability.
  • Tax refunds is a great way to get back some of the money you’ve paid to the government in taxes.
  • The first and foremost criterion for tax refunds is your income level.
  • Claiming tax refunds can be a tedious task. But, it is an essential part of tax compliance that can result in substantial savings.

Many of you may be curious about what TDS means. This article will address that question and several others, like how to claim an income tax refund and more. Let’s examine this idea in more detail.

What is a TDS refund?

Individuals who have made financial declarations at the start of the year, which are less than the proof of investment submitted at the end of the year, will be eligible for a TDS refund. The sooner you file the income tax return, the earlier you can get the TDS refund.

Steps For Filing The TDS Return Claim

  • File a TDS refund claim when the employer deducts more tax than the actual liability. You can claim the difference amount by filing an income tax return.
  • Provide the bank account number, name of the bank, and Indian Financial System Code (IFSC) details for successful processing.
  • If you know that the TDS is payable in any financial year, you need to file Form 13 under Section 197 to avail of a lower-income tax deduction benefit.
  • You need to know how to get a refund of TDS deducted from the bank. For example, if the income tax is less, but the bank has deducted more tax on your fixed deposit, you can claim a refund in two ways.
  • Declare the income, and the Income Tax department will refund the amount to the bank account.
  • File Form 15G with the bank, so there is no deduction at the source since your salary does not fall under any tax slab. In addition, senior citizens are exempted from paying TDS from interest on fixed deposits.

Understanding The Eligibility Criteria for Tax Refunds

Tax refunds are a great way to get back some of the money you’ve paid to the government in taxes. However, not everyone is eligible for a tax refund. Understanding the eligibility criteria is essential if you want to claim a tax refund. Here are the eligibility criteria for tax refunds.

Income Level

The first and foremost criterion for tax refunds is your income level. If you earn below a certain amount, you may be eligible for a tax refund. The threshold for eligibility changes every year and depends on your filing status.

Filing Status

Your filing status is another crucial factor in determining your eligibility for a tax refund. If you’re filing as a single person, you may be eligible for a tax refund if your income is below a certain threshold. However, if you’re filing jointly with your spouse, your income threshold may be higher.

Tax Credits

Tax credits are another way to become eligible for a tax refund. If you qualify for certain tax credits, you may be eligible for a refund even if you don’t owe any taxes. For example, the earned income tax credit (EITC) is a refundable credit for low-to-moderate-income working individuals and families. If you qualify for the EITC, you may be eligible for a tax refund even if you don’t owe any taxes.

Overpaid Taxes

If you’ve overpaid your taxes, you may be eligible for a tax refund. This can happen if you’ve made estimated tax payments that exceed your actual tax liability. It can also happen if you’ve had too much tax withheld from your paycheck. In such cases, you can claim a refund for the overpaid amount.

Filing Deadline

Finally, you must file your tax return on time to be eligible for a tax refund. If you miss the filing deadline, you may not be able to claim a refund. The deadline to file your tax return is usually April 15th of every year. However, it may be extended in certain situations, such as a natural disaster or a pandemic.

How to Claim TDS Refund Online?

Filing income tax returns is a straightforward step in the process of claiming a Tax Deducted at Source (TDS) refund online. It includes the following steps

1. Sign in or sign up on the online e-filing portal of the Income Tax Department, i.e.,

2. Fill in the relevant details in the applicable Income Tax Return (ITR) form.

3. On submission of the ITR, the portal generates an acknowledgment.

4. E-verify the acknowledgment through the digital signature, net banking account, or an Aadhaar-based one-time password (OTP).

How to Apply for The TDS Rebate or Income Tax Return (ITR)?

The TDS refund process is straightforward. You just need to visit the income tax portal and log in to download the relevant form for an income tax refund. Enter all the particulars and submit the form. If the employer has deducted tax when you are not eligible for it, you can claim the amount by filing income tax returns (ITR). The department will review the taxable amount, and you will receive the amount directly in your bank account.

Tips to Increase The Chances of Success in Claiming Tax Refunds

Claiming tax refunds can be a tedious task. But, it is an essential part of tax compliance that can result in substantial savings. While the process can be complex, it is worth the effort to ensure that you are not overpaying on your taxes. Here are some tips to increase your chances of success in claiming tax refunds.

Keep Accurate Records

The first and most important step to claiming a tax refund is to maintain accurate records. Keep receipts and other documents that support your tax deductions. If you are self-employed, keep track of your business expenses and income. Accurate records will help you to identify all the expenses that you can claim on your tax returns.

Know Your Eligibility for Tax Deductions

Tax deductions reduce your taxable income, which in turn reduces the amount of tax you owe. There are several tax deductions that you may be eligible for, including charitable donations, medical expenses, and mortgage interest. Knowing your eligibility for tax deductions will help you to claim the maximum tax refund possible.

File Your Tax Returns Early

Filing your tax returns early can increase your chances of receiving a tax refund. The IRS typically processes tax returns in the order in which they are received. If you file your tax returns early, you are more likely to receive your tax refund sooner.

Hire a Professional Tax Preparer

If you are unsure about the tax laws or the process of claiming a tax refund, it is recommended that you hire a professional tax preparer. A tax preparer can help you to navigate the tax laws and maximize your tax refund. A tax preparer can also help you to avoid errors or omissions that can delay or even disqualify your tax refund.

Final Thoughts

Claiming a tax refund is a process that can be accomplished in a few easy steps. First, ensure that you are eligible for a refund by reviewing your tax return and assessing any deductions or credits you may be entitled to. Next, gather all necessary documentation, including receipts and supporting documents, to prove your claim. Then, file your tax return with the relevant tax authority, including a request for a refund. Once your claim is approved, you will typically receive a check or direct deposit for the refund amount. It is important to keep in mind that processing times may vary, and it may take several weeks or even months to receive your refund.


How to claim an income tax refund?

Filing a complete income tax return by the deadline is the simplest approach to obtaining your tax refund. You can check the total advance tax payments made on Form 26AS as you file your return.

If I have paid the excessive tax, will it refund me?

According to section 237, a person is entitled to a refund of the excess tax paid by him if he can prove to the Assessing Officer that the amount of tax paid by him, on his behalf, or treated as paid by him or on his behalf for any year exceeded the amount of tax that person owed.

What is Form 26AS? In what forms can I pay my tax?

Form 26AS is a declaration that lists all deductions made as TDS or TCS from a taxpayer’s various sources of income. Additionally, it includes information on the taxpayer’s high-value transactions and advances tax or self-assessment tax payments.

Do I have to submit any documents or proofs while filing my income tax returns?

Your income tax return is an “annexure less” return, meaning that no supporting documentation or evidence must be included with the form.

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