New Delhi: The income tax department has established a facility allowing taxpayers to access their tax credits online via the Internet.
Read More: LIC expects income tax refund of Rs 25,464 crore in Q4
Taxpayers can view their TDS online using the net banking portal, but they must first link their PAN with the portal. TDS on salary refers to the tax deducted by the employer when paying the employee’s salary. The employer deducts and deposits the money on behalf of the employee to the government.
What Is TDS?
TDS, or Tax Deducted at Source, refers to a predetermined amount deducted when various payments such as salary, commission, rent, interest, professional fees, etc., are made. TDS rates are determined based on the age bracket and income of individuals.
The entity making the payment deducts tax at the source, shifting the tax liability to the recipient of the payment/income. This mechanism reduces tax evasion by ensuring that tax is collected at the time of payment.
Steps To Check Your TDS Amount Online Using Your PAN card:
Step 1: Download the authorized Net Banking App from the Play Store or App Store.
Step 2: Register on the Net Banking App.
Step 3: Link your registered bank account with your PAN card on the App.
Read More: AIS For Taxpayers App: How To Download, Register And View Annual Information Statement
Step 4: You can now view the status of TDS returns by obtaining your bank statement or accessing the record of the account through which tax payments were made.
Steps To Check Your TDS Amount Online Using Your PAN card:
Step 1: Visit the official website at www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml
Step 2: Then fill in the verification code.
Step 3: Now Click on ‘Proceed.’
Step 4: Enter your PAN and TAN.
Step 5: Select the financial year, quarter, and type of return.
Step 6: Click on ‘Go.’
Step 7: The details will be displayed on the screen.
Read More: Direct Tax Collection Touches 80% of FY24 Revised Estimates, Hits Rs 15.60 Lakh Crore
Keeping track of your TDS refunds, filing income tax returns, and checking your TDS amount online or offline is crucial for managing your finances effectively. If you’re a taxpayer, it’s essential to monitor your tax deductions and deposits in your PAN account.
