Claiming Your TDS Refund: A Step-by-Step Guide to Recovering Tax Deductions in 2024

Summary

The blog explains how TDS deductions from various income sources like salary, interest, and rent can lead to refunds if these exceed tax liabilities. It outlines eligibility and detailed claim procedures through ITR filing, along with required documentation and online methods. The guide also explains refund timelines, interest accrual on delays, and ways to check refund status.

Key Takeaways

TDS is deducted from salary, interest, and rent earnings.
Refunds are claimable if deducted TDS exceeds tax liabilities.
Claim procedures involve filing the ITR with correct bank details and digital verification.
Refund timelines vary and delayed refunds may earn interest.