The Common Misconception Around TDS
Many salaried individuals tend to skip filing their income tax returns if Tax Deducted at Source (TDS) has already been deducted from their salary. The assumption is simple: “Tax is already paid, so why bother filing?”
However, this approach can often lead to missed opportunities—especially when it comes to claiming refunds.
The Confusion Between Old and New Tax Regimes
With the introduction of the new tax regime, things have become a bit more complex. Most employers now deduct TDS based on the new regime by default. Under this regime, fewer deductions are allowed, and in many cases, employees may not see any refund.
But here’s the catch—when the same income is evaluated under the old tax regime (which allows various deductions and exemptions), you could be eligible for a significant refund. In fact, depending on your salary structure and investments, the refund could range anywhere between 10% to 60% of the tax paid.
Why You Should Always Compare Both Regimes
Before filing your return, it is crucial to calculate your tax liability under both the old and new regimes. Even if your employer has considered one regime for TDS purposes, you still have the flexibility to choose the other regime while filing your return.
This simple step could make a substantial difference to your final tax outflow—or even result in a meaningful refund.
Flexibility at the Time of Filing
A key point many taxpayers overlook is that the tax regime selected by your employer is not final. At the time of filing your income tax return, you can switch between the old and new regimes based on what works best for you.
- Learn More – Join Our Free Webinar
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• Date: April 24, 2026
• Speaker: Mr. A. Subramani
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