Studentย โขย 21h
๐งพ TDS, Advance Tax & Refund โ Simple Summary TDS (Tax Deducted at Source) is tax cut before you receive your income (like salary, interest, freelance payments). Itโs paid to the government by the one who pays you. Advance Tax is tax you must pay in advance, during the year, if your total tax is โน10,000 or more (mainly for traders, freelancers, or side income earners). If more TDS is deducted than required, you can claim a refund by filing your Income Tax Return (ITR). If your income is โน3,00,000 with no deductions, youโll pay tax on โน50,000 โ Tax = โน2,500. If your company deducted โน5,000 as TDS, youโll get a โน2,500 refund after filing ITR. Use Form 16, 26AS, and AIS to check your TDS.
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