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.