TDS Refund

TDS refers to Tax Deducted at Source. It refers to an income, which is given to an assessment after deducting the amount of tax liability that is to be imposed on that particular income. This tax is managed by the Central Board of Direct Tax (CBDT) which is a part of the department of revenue managed by the India Revenue Service (IRS).

If an assesses gross total income does not exceed 250000 annually but still, the tax is deducted at the time of receiving any such income, the assessee is eligible to file Income tax return in order to obtain the TDS refund.

In order to file Income tax return for getting refunds, an assessed must have a PAN card as per the rules of IT Act 1961.