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RV Dhameliya

Studentย โ€ขย 21h

๐Ÿงพ 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). Itโ€™s 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 โ‚น10,000 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 โ‚น3,00,000 with no deductions, youโ€™ll pay tax on โ‚น50,000 โ†’ Tax = โ‚น2,500. If your company deducted โ‚น5,000 as TDS, youโ€™ll get a โ‚น2,500 refund after filing ITR. Use Form 16, 26AS, and AIS to check your TDS.

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