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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Apr 21, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more
Trilok Question by Trilok on Apr 18, 2023Hindi
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Dear Mr Tejas, My company has deducted 1.50 lac as TDS for the last financial year. Will i get a refund for the same?

Ans: Dear Trilok,
Your question is incomplete and can be replied with certain presumptions. I have presumed that, your company has deducted TDS of Rs. 1.50 Lacs from your salary income. TDS is adjustable against tax payable by you against your total income, including salary income. Total income consists of any other income, which you may have in addition to the salary income. Depending on either you choose new tax regime or not, would depend if you have deductions to claim against your salary income, which can be upto Rs. 1.50 Lacs. If you have taken housing loan, you can again claim deduction of Rs. 2.00 Lacs per house/ housing loan. The tax calculated after all the deductions available to you, would give you the gross total income , basis which tax payable would be determined. TDS deducted and paid by your company to the government would be adjusted against your tax payable , post which either you will get the refund or there may be additional tax liability.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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