If you have a Tax Deducted at Source(TDS) in your PAN Card then you are at the right place because here we will tell you how to get back your TDS money in your Bank Acocunt.
What is TDS or Tax Deducted at Source
TDS full form is tax deducted at source which means income tax is deducted at the time of payment by the payer. TDS is deposited with the central government in the name of receiver for a particular financial year.
How to get back TDS money
To get back the TDS money which was deducted in your name you have to file income tax return for that particular financial year. Without filing income tax return you will not get back the TDS money.
Suppose if your TDS is deducted on 10th July 2023 then this tds comes under Financial Year 2023-24 for which you have to file income tax return in Assessement Year 2024-25. After filing income tax return you will get back the money in your bank account.
What is Income Tax Return
Income tax return is a form managed by government of India for tax purposes. Every individual or business has to file it mandatorily and have to pay tax according to the information provided in the form. Suppose if there is a tax liability in income tax form then the person has to clear that liability by paying the tax and if the tax liability is less compared to the TDS money then the person will get back the excess amount in his bank account after filing the income tax return.
Types of Income Tax Form
Below is the list of Income Tax Forms
ITR Form | Applicable to |
| ITR-1 / Sahaj | Individual, HUF (Residents) |
| ITR-2 | Individual, HUF |
| ITR-3 | Individual or HUF, partner in a Firm |
| ITR-4 | Individual, HUF, Firm |
| ITR-5 | Partnership Firm/ LLP |
| ITR-6 | Company |
| ITR-7 | Trust |
