It is a myth among people that tax which is deducted cannot be recovered, the Income tax department will not give them the refund. Tax deducted at source can be recovered. If your income is below the taxable limit or TDS paid is more than the tax paid, then you can claim for refund by filing a return.
The individual must follow the given procedure:
- You should file an income tax return.
- Your tax liability must be zero or lower than the TDS deducted from the salary.
- You should get the TDS certificate from the employer.
- Fill the application form and then need to show the income, investment and other details.
- Submit all the proofs for the tax reduction that compensates the total tax amount.
- You can submit
LIC insurance plan proofs
Education loan proof
Mutual funds , Investment proofs
Claim to the IT division by submitting the above proofs to recover the TDS amount deducted.
After the verification process, your amount will be settled down.
If you are electronically submitting the return, then you have to mention your bank a/c number and IFSC Code of your Bank through which you will get your refund directly into your bank account.