21 June 2011
MY INTREST INCOME FROM VARIOUS BANKS ARE 42000 AND OUT OF THIS TDS IS DEDUCTED ON 20000 ONLY BECAUSE BALANCE AMOUNT OF INT IS FROM 3 BANKS ( 7000 , 8000 ,7000 ) AND ALL THOSE BANKS NOT DEDUCTED TDS BECAUSE INTEREST AMOUNT IS BELOW 10000 SO HOW I TREAT THIS KIND OF INTREST INCOME BECAUSE AS PER NEW AMENDMENT IN INCOME TAX , PERSON HAVING SALARY INCOME AND INTREST INCOME BELOW 500000 ARE NOT REQUIRED TO DEPOSIT RETURN AND FORM 16 AND 16 A IS ASSUMED AS RETURN FILLED SO IS THE AMOUNT OF 22000 ( FROM 3 BANKS ) COVERED UNDER CONCELAMENT OF INCOME OR IT WAS DUTY OF THE BANKS TO COMPILE THE INTEREST INCOME OF OTHER BANKS AS WELL ON THE BASIS OF PAN CARD SO PLEASE CONFRIM MY ROLE IN CASE OF THOSE INTEREST ON WHICH BANK NOT DEDUCT TDS
21 June 2011
the CBDT HAS YET TO COME WITH AN APPROPRIATE NOTIFICATION IN SUCH CASES WAIT TILL THEN GOING BY THE NEWS REPORTS IT APPEARS U WILL HAVE TO FILE RETURN BANKS DID NO WRONG
22 June 2011
SIR , IF WE INCLUDE THE INTEREST OF 22000 IN OUR INCOME THEN AGAIN GROSS TOTAL INCOME WILL BE BELOW 500000 AND FOR THAT NO RETURN IS REQUIRED , RETURN IS REQUIRED ONLY IN CASE OF REFUND SO PLEASE UPDATE
CAclubindia
