Question
How do I claim an income-tax refund if my TDS is more than my tax?
Answer
Bottom line: A refund arises when your TDS and advance tax exceed your actual tax, and you claim it simply by filing your ITR.
1. How it comes
File and verify the return, and the excess is refunded to your pre-validated bank account after processing by CPC.
2. Interest on refund
Under Section 244A you get 0.5% per month, but no interest if the refund is less than 10% of the tax. This interest is itself taxable.
3. Track it
Use "Know Your Refund Status" on the e-filing portal with your PAN and assessment year.
Estimate your liability first with our Income Tax Calculator.
This answer is general information based on the law as it stood when written and is not professional advice on your specific situation. Verify the current position and consult a qualified professional before acting. See our disclaimer.