Author: PEAK Business Consultancy Services | Category: Salary Income Tax Filing – India
Every year, millions of salaried professionals in India overpay taxes due to errors, lack of awareness, or incomplete tax planning. The good news? With the right filing strategy and professional guidance, you can unlock significant tax refunds—even if your employer has already deducted TDS.
This detailed guide shows how salaried individuals can maximize their tax refunds through expert ITR filing, claim every eligible deduction, and ensure full compliance with Indian tax laws. Need help? Let our experts handle your ITR from start to finish.
1. Understand Why Refunds Happen
Refunds occur when:
- Your employer deducts excess TDS
- You invest in tax-saving instruments after submitting Form 12BB
- You switch jobs and both employers deduct TDS without income consolidation
- You claim deductions not reflected in your Form 16
- Advance tax or self-assessment tax is overpaid
Key Point: You can only claim your refund by filing your Income Tax Return. We help you file accurately and claim your rightful refund.
2. Claim the Full Range of Deductions
Section 80C – Up to ₹1.5 Lakh
- EPF and VPF contributions
- LIC premiums
- ELSS mutual funds
- Principal on home loan
- Children’s tuition fees
- PPF, NSC, Sukanya Samriddhi, etc.
Section 80D – Health Insurance
- ₹25,000 for self and family
- Additional ₹25,000 (or ₹50,000 if senior citizen) for parents
Section 24(b) – Home Loan Interest
Deduction of up to ₹2 lakh per annum on interest paid on home loans for self-occupied property.
Section 10 – HRA Exemption
Claim exemption on rent paid if HRA is part of your salary structure. Even if not declared to employer earlier, you can claim it now while filing.
Section 80E – Education Loan Interest
Deduction of interest paid on education loans (no upper limit, available for 8 years).
Section 80G – Donations
Contributions to specified relief funds and NGOs can be deducted at 50% or 100% depending on the organization.
Section 80TTA / 80TTB – Interest Income
Up to ₹10,000 on savings account interest (80TTA) or ₹50,000 for senior citizens (80TTB).
Our tax professionals ensure no deduction is missed—maximize your savings with expert help.
3. Consolidate Income from Multiple Employers
If you’ve changed jobs during the financial year, both employers might have calculated TDS independently. You must consolidate your salary and claim accurate deductions to avoid excess tax payment.
Tip: Combine Form 16 from both employers and declare total salary in your return. Let us handle the consolidation and calculation accurately.
4. Match 26AS and AIS with Actual Income
Form 26AS and AIS (Annual Information Statement) show income reported by banks, employers, and other institutions. Matching them with your return ensures:
- No refund delays
- No notices for income mismatch
Don’t file blindly—our team reconciles your data with Form 26AS and AIS before submission.
5. Declare Exempt and Other Income
- Interest from savings accounts and FDs
- Tax-free income like PPF, gratuity, and LIC maturity
- Dividend income (now taxable beyond ₹5,000)
- Capital gains from mutual funds or shares
Declaring all sources avoids discrepancies and ensures refund claims aren’t held up by scrutiny.
6. File Before the Deadline
- ITR Due Date: 31st July 2025 (for FY 2024–25)
- Late filing = ₹5,000 penalty (₹1,000 if income is below ₹5 lakh)
- Losses (like capital loss) cannot be carried forward if return is late
Early filing = faster refunds. We help you file early and track your refund until it reaches your bank.
7. Use Professional Filing Services for Maximum Refund
DIY filing tools are generic and don’t provide personalized advice. Filing with an expert helps you:
- Choose the correct regime (old vs. new)
- Claim all deductions even if missed in Form 16
- Avoid defective returns
- Track refund status with the CPC
- Resolve any IT notices or queries
File smart, not just fast. Let PEAK Business Consultancy Services file your ITR and maximize your refund.
8. Post-Filing: Track Refund and E-Verify
- Refunds are processed only after e-verification
- Verify using Aadhaar OTP, net banking, or by sending signed ITR-V to CPC
- Track refund status on e-filing portal under ‘Refund/Demand Status’
We monitor your return and follow up with CPC for delays—so you don’t have to.
Why Choose OurTaxPartner.com?
- Specialized in salaried ITR filings
- Expert support for refunds, regime selection, and deduction maximization
- Fast turnaround with error-free filing
- Affordable plans for individuals and families
- Year-round tax advisory and notice handling
Click here to start your ITR filing and claim your maximum refund
Conclusion
As a salaried professional, you work hard for every rupee. Make sure you don’t leave any of it behind due to poor tax filing. With expert filing support, you can save more, reduce tax liability, and receive timely refunds with peace of mind.
Take action now. Let PEAK Business Consultancy Services file your return with precision and care.
Have questions about your salary structure, TDS, or refund status? Visit www.ourtaxpartner.com/filing-service/income-tax-efiling and consult our tax experts today.
