Claim Income Tax Refund of Eligible TDS Till 31st December 2024

 

Are you looking to claim an income tax refund for your eligible TDS before the deadline of 31st December 2024? In this article, we will discuss everything you need to know about the process, eligibility criteria, and important deadlines to ensure you receive the refund you are entitled to. So, let's dive in and explore the ins and outs of claiming your income tax refund efficiently and effectively.

What is Income Tax Refund?

An income tax refund is a refund of excess tax that you have paid to the government. This typically occurs when the tax deducted at source (TDS) on your income is higher than the actual tax liability calculated based on your total income. In such cases, you can claim a refund of the excess TDS amount by filing an income tax return.

Eligibility Criteria for Claiming Income Tax Refund

To be eligible for claiming an income tax refund of eligible TDS, you must meet the following criteria:

  1. You have paid excess TDS than your actual tax liability.
  2. You have filed your income tax return for the relevant assessment year.
  3. You have verified your income tax return with the income tax department.
    If you meet these criteria, you can proceed with claiming your income tax refund before the deadline of 31st December 2024.

Steps to Claim Income Tax Refund

To claim your income tax refund of eligible TDS, follow these simple steps:

  1. Log in to the income tax e-filing portal using your credentials.
  2. Select the appropriate assessment year for which you want to claim the refund.
  3. Go to the 'My Account' section and click on 'Refund/Demand Status.'
  4. If a refund is due, click on 'Request for a refund re-issue' and enter the required details.
  5. Verify the refund re-issue request using your Aadhar OTP or Net Banking.

Important Deadlines to Remember

It is crucial to note that the deadline to claim your income tax refund of eligible TDS for the assessment year 2024-25 is 31st December 2024. Failing to claim your refund before this deadline may result in delays or even forfeiture of your refund amount. Therefore, make sure to file your income tax return and claim your refund in a timely manner to avoid any unnecessary complications.

Conclusion

In conclusion, claiming an income tax refund of eligible TDS is a straightforward process that can be done online through the income tax e-filing portal. By following the steps mentioned above and meeting the eligibility criteria, you can ensure that you receive the refund you are entitled to before the deadline of 31st December 2024. So, don't delay any further and take the necessary steps to claim your income tax refund today!

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Location: India

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