How to get TDS Refund without Filing ITR
Tax Deducted at Source (TDS) is a tax that is deducted from the income earned by an individual, at the time of payment itself. It is a tax-collecting mechanism to ensure that the government receives tax revenue in a timely manner. Sometimes, taxpayers may have excess TDS deducted from their income, which can be claimed as a refund. In this article, we will discuss the process of getting TDS refund without filing ITR.
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Process of Getting TDS Refund without Filing ITR:
- Check TDS Certificates: The first step is to check the TDS certificates issued by the deductor (employer, bank, etc.) to ensure that the TDS amount has been properly credited to your PAN.
- Submit Form 15G/15H: If your income is below the taxable limit, you can submit Form 15G/15H to the deductor to avoid TDS deduction.
- Apply for TDS Refund: If excess TDS has been deducted from your income, you can apply for a TDS refund by submitting a refund application to the Income Tax Department.
- Submit Form 26AS: Form 26AS is a consolidated statement of TDS, which reflects the TDS amount deducted and credited to your PAN. You can download Form 26AS from the Income Tax Department’s website and submit it along with the refund application.
- Submit Other Documents: Depending on the case, other documents may also be required to be submitted along with the refund application, such as bank statements, cancelled cheques, etc.
- Follow up: After submitting the refund application, you should follow up with the Income Tax Department to ensure that your application is being processed.
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FAQs:
Q: Is it possible to get TDS refund without filing ITR?
A: Yes, it is possible to get TDS refund without filing ITR if excess TDS has been deducted from your income.
Q: What is Form 15G/15H?
A: Form 15G/15H is a declaration form that can be submitted to the deductor to avoid TDS deduction if the income is below the taxable limit.
Q: What is Form 26AS?
A: Form 26AS is a consolidated statement of TDS, which reflects the TDS amount deducted and credited to your PAN.
Q: What documents are required to be submitted for TDS refund?
A: Depending on the case, documents such as bank statements, cancelled cheques, etc. may be required to be submitted along with the refund application.
Q: How long does it take to get TDS refund?
A: The time taken to get TDS refund depends on the processing time of the Income Tax Department, which can vary from a few weeks to a few months.
Conclusion: Getting TDS refund without filing ITR is a simple process, provided you have all the necessary documents and follow up with the Income Tax Department. By following the above-mentioned steps, you can easily claim your TDS refund and get back the excess TDS deducted from your income.
Important FQS’s :
What is TDS?
TDS stands for Tax Deducted at Source. It is a system where the payer of an income, such as an employer or a bank, deducts tax at the source before making the payment to the recipient. The tax is then remitted to the government by the payer.
Who is liable to pay TDS?
The following persons are liable to deduct TDS:
- Employers
- Banks
- Insurance companies
- Government departments
- Other persons who make payments of income that is chargeable to tax
What are the rates of TDS?
The rates of TDS vary depending on the type of income and the payer. The rates are specified in the Income Tax Act, 1961.
How to claim TDS refund?
If you have paid TDS on any income, you can claim a refund by filing an Income Tax Return (ITR). You can also claim a refund without filing an ITR, under certain circumstances.
How to claim TDS refund without filing ITR?
There are two ways to claim TDS refund without filing an ITR:
- By filing Form 13A
- By applying to the Assessing Officer
Filing Form 13A
Form 13A is a declaration that you are not required to file an ITR. You can file this form with the Income Tax Department if your total income for the financial year does not exceed the basic exemption limit.
The basic exemption limit for the financial year 2023-24 is as follows:
- ₹2.5 lakh for individuals
- ₹3 lakh for senior citizens (above 60 years of age)
- ₹5 lakh for super senior citizens (above 80 years of age)
If you are eligible to file Form 13A, you can claim a refund of any TDS that has been deducted on your income.
What are the documents required to claim TDS refund?
The following documents are required to claim TDS refund:
- Form 16
- Form 12B
- Bank statements
- Any other documents that support your claim
What is the time limit for claiming TDS refund?
You can claim a TDS refund within four years from the end of the financial year in which the TDS was deducted. For example, if TDS was deducted in the financial year 2023-24, you can claim a refund till 31st March, 2028.
What are the fees for claiming TDS refund?
There is no fee for claiming a TDS refund. However, if you are applying to the Assessing Officer for a refund, you may be required to pay a fee. The amount of the fee will vary depending on the nature of your claim.
What are the risks of not claiming TDS refund?
If you do not claim a TDS refund, you will lose out on the money that has been deducted from your income. The government will not refund the TDS amount after the four-year time limit has expired.