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Tax Planning — Intermediate
Check Form 26AS regularly to ensure all TDS deductions match your records before filing returns.
Concept
Check Form 26AS regularly to ensure all TDS deductions match your records before filing returns.
TDS (Tax Deducted at Source) is a mechanism where the payer deducts tax before paying you. Your employer deducts TDS from salary, banks deduct on FD interest above ₹40,000, and companies deduct on contractor payments. It's credited to your PAN and adjusts against your final tax liability.
हिंदी मेंTDS में payer payment करने से पहले tax काट लेता है। Salary, FD interest ₹40,000 से ऊपर, contractor payments — सब पर TDS कटता है और PAN से link होता है।
Example
See it in action
Your FD earns ₹60,000 interest. Bank deducts 10% TDS = ₹6,000. When you file your return, if your total tax liability is ₹5,000, you get ₹1,000 refund. If liability is ₹8,000, you pay ₹2,000 more.
हिंदी मेंFD पर ₹60,000 interest मिला, bank ने 10% TDS = ₹6,000 काटा। Return file करें — total tax ₹5,000 तो ₹1,000 refund, ₹8,000 तो ₹2,000 और भरो।
Key takeaway
Remember this
TDS is not your final tax — it's just pre-collected. Always file returns to claim refunds or settle any remaining liability.
TDS isn't an extra tax — it's an advance payment of your income tax. If more TDS was deducted than your actual liability, you get a refund.
हिंदी मेंTDS final tax नहीं है — बस advance में collect होता है। Refund claim करने के लिए return ज़रूर file करें।
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