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Tds (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
04 July 2012

sir i have earned a income of rs. 300000 from bhopal gas tragedy and made a fixed deposit with bank. bank has deducted tax from it. sir i am a petition writer and my gross total income from all sources comes to 150000 rs. and i am not coming under the income tax liability. please provide me way in claiming refund from income tax department. what are procedure i have to follow for it ?

thanks in advance..
with regards..


shivaji prasad

( Expert )
04 July 2012

If TDS is already deducted by the Bank, You can file your IT return and claim the refund. For future, give the Bankers Form 15 G as your Gross Total Income is below the taxabale limits for NOT making TDS on interest.For the two Previous years, you can file ITR.


CMA. CS. Sanjay Gupta

( Expert )
04 July 2012

Completely agree with the expert for this time you will have to file your return to claim the refund and after that submit form 15G so that no TDS is deducted from your FD. Submit 15H in case you are a senior citizen.


Author : Anonymous

( Author )
05 July 2012

sir under which form i have to file a return ITR-1 OR ITR-2.. also sir weather i have to submit that TDS certificate to income tax department.


Author : Anonymous

( Author )
05 July 2012

along with application of refund ?


CMA. CS. Sanjay Gupta

( Expert )
05 July 2012

Please tell us what are the sources of your income to suggest appropriate ITR.

When you file return no need to submit the TDS certificates. After filing the return you will get the refund so no need to file any application for refund.


Author : Anonymous

( Author )
06 July 2012

thank-you sanjay gupta sir for your valuable suggestion. my only source of income is from private typewriter making birth certificate, income certificate.. i have no other source of income.


CMA. CS. Sanjay Gupta

( Expert )
06 July 2012

In case you are a salaried employee file ITR1 and if you are self employed as seems to be the case here. File ITR4.


Author : Anonymous

( Author )
08 July 2012

ok.. thank you sir..



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