How do I check TDS deducted on my income?

Check Form 26AS on the income tax e-filing portal. It shows all TDS deducted against your PAN by various deductors.

Can I avoid TDS on FD interest?

Submit Form 15G (if below 60) or 15H (senior citizens) if your total income is below the taxable limit. This prevents TDS deduction.

How long does TDS refund take?

Typically 30-60 days after ITR processing. Ensure your bank account is pre-validated on the e-filing portal for faster refunds.

What Is TDS and How to Claim a Refund

TDS (Tax Deducted at Source) is the government's way of collecting tax at the point of income generation. Understanding TDS helps you plan your taxes and claim refunds.

When Is TDS Deducted

TDS applies on: Salary (employer deducts based on declared investments), FD interest (10% if >₹40K/year), rent (if >₹50K/month), freelance payments (10%), property sale (1%), and more. TDS is essentially advance tax collected by the payer.

Common TDS Rates

Salary: As per tax slab. FD Interest: 10% (20% if no PAN). Professional fees: 10%. Rent: 10% (for individuals paying >₹50K/month). Property sale: 1% of sale value. Commission: 5%. Without PAN, TDS is deducted at 20%.

How to Claim Refund

If total TDS deducted exceeds your actual tax liability, you get a refund. File your ITR, declare all income and TDS, and the refund will be credited to your bank account (typically within 30-60 days of processing).