Tax Refund For A Contract Employee

Hello Sir,
I am working as a Contract employee with a IT firm (direct with company). My monthly salary before TDS is Rs. 40000.
As per my knowledge Rs. 4000 every month would be deducted as TDS, which would be Rs. 48000 p.a .
My question is can i ask for the refund of the above Rs. 48000 while filing the IT returns? If yes, how much would be the refund?
How is the ITR filed for contract employee? Can we show our saving for PPF & LIC & ask for the refund.
Thanks.
Vidya

Hi Vidya.
First, I wanto to know more details about your income and savings. Which financial year belongs to this? You can claim deduction of PPF and LIC, and also Housing Loan principal/Interest if any. If you give full details, I can help you to file your IT Return. We need to calculate the Tax and then only I can say, how much amount you will get as refund. Please mail to me at [Login to view]
Regards
REJI

Hi Vidya,
It depends on your savings and u have to collect form 16 from ur employer.further u can file and claim return for the same.