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Query: If TDS is refunded by bank

Category: Investments

Answer: No bank only deducts TDS & deposit it to Govt., and passes on the credit to our PAN through TDS return, TDS is refunded by Income tax department, when we file our income tax return showing all the incomes during a financial year. If we have paid taxes including TDS more than our tax liability or we are below taxable limits, a refund will shown in our ITR. Once ITR got processed we will get refund in our bank account directly by income tax dept.

Date Posted 13-Dec-2019
Posted By Kumar Prakash
Views: 495

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