What is TDS? is it possible to get it back and how?

57. Can a return be filed after the due date?

Yes. It may be furnished at any time before the expiry of two years from the end of the financial year in which the income was earned. For example, in case of income earned during FY 2006-07, the belated return can be filed before 31st March 2009?

Has anyone experience it before?

The income tax department has made it compulsory to deduct tax on certain payments. It is called Tax Deducted at Source (TDS).

In case if there is any TDS on your funds, then you have to file your income tax returns, adjust the TDS amount towards the taxes due by you. Anything excess, it will be refunded to you.

If there is no tax due by you, then the income tax department will refund entire TDS amount to you. Without filing returns, it is not passable to get it back.

Hope that you are already having PAN card. If not apply for it immediately.

TDS is t(edious) to return and easy to pay the on the immediate source of income that goes out so easily.

TDS is Tax Deduction at Source,

Generally TDS is deducted annually from your account on every financial year end.

To stop your TDS from being deducted from your account, you need to show all your investment proofs for the amount that is taxable to you.
Failure to show that before 1st of Mar i guess, would result in TDS and then once the TDS is done, there is no way to get the money back from Government..

Regards
Deep Sukhwani

TAX DEDUCTION AT SOURCE is its full form, it is a deduction of a particular percentage of amount (2.5%) from your payment against any labour charge bill which you might have raised, you may get it back after you file your IT return, only if your TDS is more than the amount you are supposed to give as IT, the balance is to be returned to you,