05/08/2026
TDS Deducted? Where Did Your Money Go? 🚨
Did you notice a chunk of your payment missing from your salary, invoice, or payout? 🚨 Don't worry—TDS is advance tax, not an extra tax!
Understanding TDS (Tax Deducted at Source) helps you claim your money back or adjust it against your total tax liability. Here is how it works:
👥 Who Deducts TDS?
Employers: Deduct TDS on salary income based on tax slabs. Clients: Deduct TDS on professional & freelancing fees. Banks: Deduct TDS on Fixed Deposit (FD) and savings interest earned.
📋 Common Sources of TDS Deductions:
Salary: Deducted by your employer each month. Bank Interest: Tax withheld on interest earned above statutory limits. Professional Fees: Deducted on payments to consultants, lawyers, doctors, and freelancers. Rent: Deducted on rent payments above specified thresholds.
💡 Golden Rule: TDS withheld is recorded under your Form 26AS / AIS. Always claim your eligible TDS credit while filing your Income Tax Return (ITR) to get a refund or adjust your tax dues!
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