Deduction of tax at source is done so that when the person receives the income, the tax authorities get the tax in advance. The person who makes the payment to the taxpayer should deposit the TDS to the tax department.
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Deduction of tax at source is done so that when the person receives income, the tax authorities can pay in advance. income tax Get it. The person who makes the payment to the taxpayer should deposit the TDS to the tax department. However, it may happen that taxpayer Does not have any taxable income and the taxpayer has to face difficulties due to this TDS deduction. Let us know that if this happens, how can we get a refund.
The application for exemption from TDS can be made in Form 13 and has to be filed with the Assessing Officer. In some places, the tax office may also provide an option to file the application in the online format.
This document is required
After filling Form 13, you will have to provide the following documents along with it:
- Acknowledgment for the last three financial years along with a copy of IT Returns.
- Calculation of income for the same period and same year.
- Assessment orders for the last three financial years.
- Audit Report for the same period.
- E-TDS return acknowledgment for the last three financial years.
- Estimated income and profit or loss account for the current financial year.
- Copy of PAN.
- TAN of the parties who are going to make the payment to the taxpayer.
what is the procedure?
Once the application is submitted, it will be processed within 30 days from the end of the month in which the application is submitted.
Who can apply?
In this, any person, corporate, HUF, individual etc. can apply. Any person can submit self-declaration in Form 15G or Form 15H for non-deduction of TDS.
keep these things in mind
If the taxpayer does not follow the procedure mentioned above, he can claim refund of TDS while filing the tax return. It would be best to consult your tax advisor first.
Apart from this, let us tell you that the Income Tax Department has also developed a new portal for form correction and filing of income tax returns. You get many facilities on this.