I am working with one of the library. The company is deducting 10% as TDS in every month salary. My salary is 15000.00 per month. As per my knowledge TDS can be deducted for income more than 250000.00 per annum. Company inform me that they are treating me as consultant & as per their policy they need to deduct 10% of TDS.
Can you inform me in detail how to refund the deducted TDS.
Some companies do deduct TDS for freelancers. However, make sure that only those employers who have a Tax Deduction Account Number (TAN) are deducting tax from your income. Those who don’t have TAN cannot deduct TDS.
TAN is needed for the TDS that is deducted from an individual’s income. Companies from outside India will not deduct TDS. In case of income from companies that don’t deduct TDS, you might have to pay advance tax for such income. Your Form 16A will help you find out exactly how much TDS was deducted.
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