08 November 2012
please expert help me out with problem 1) i have a cumulative fixed deposit with the bank and i also have my saving account with the same bank.i kept FD with the bank in the year oct 10 and it mature in the oct 2012. bank have deducated my TdS by 20% even thought i have my Pan no registrated in my saving account...now how can i claim this TDS refund.Can bank filed revised return and give me TDS certification... does bank need to pay any charges for filling revised return... please help me out asap
08 November 2012
thank vaibhav for your prompt reply... but my TDS has been deducated for both the Year for 2010-11 and 2011-12 so can claim TDS in this Fiancial year
09 November 2012
sorry to bother you once again vaibhav... i am new to this taxation issue so please one more clarification. 1)as i had already paid my income tax for both the financial year then the whole amount which is deducted as TdS i.e 20% will be credited in my bank account.. 2)Bank is telling me that i will file ur revised return in the month of december then it is fine or i should insist them to file rite now....
09 November 2012
You can obtain TDS certificate from Bank and meet the Assessing officer and tell them that this are you certificates and hence even if your TDS is not deposited in your Income Tax Account by bank you can get refund through TDS Certificates.
if the Bank files revised TDS return then also you can claim TDS.
But for this you must have to file Income Tax return and shown the amount of TDS deducted by bank in your return of Income
09 November 2012
please tell that whether you have filed income tax return in time and whether you have shown TDS amount while filing income tax return
09 November 2012
i had filed my income tax return for this year.... and this Fd was for 2 yrs and i dont knw that bank deducate TDS on accrual basis. Tds amount Deducate is from my FD and not from My account.. so My maturity amount has reduce and i has not claim this TDS before as i was not knowing that it has been deducate by the bank ....
So please help me that now how should i claim this amount.....
09 November 2012
I assume that you have filed your income tax returns for F Y 2010-11 and FY 2011-12 and you have not shown Amount of Interest on Fixed Deposit of respective year.
Firstly obtain TDS certificate from Bank.
Now if you have filed your income tax returns in time i.e. on or before 31.7.11 and 31.8.12 respectively than you should revise your income tax returns and show the Tax amount in the return. Or if you have not filed your income tax return in time then you should show full income in FY 2012-13 on cash basis and claim TDS of that year in this year.
now you will not get refund if u file your return showing full FD income on cash basis in one year because as per income tax records the amount of TDS claimed by you will not match with the amount of TDS as per income tax records and hence after you get the intimation under 143(1) in which it will be stated that you have claimed TDS of x amount and as per Income Tax records Income Tax amount is less, at that time go with TDS certificate and ask AO to give credit of TDS.
09 November 2012
Thank you for explain me everthing in detail...
How can i Obtain TDS certificate From Bank... Does bank Need to file Revised Return for this Or they Have already this TDS cerficate with them...
if I want to check Whether Bank Has deposit My TDS or not then how can i check.. Bcoz banker told me that i cannot find ur TDS certificate on NSDL site...
17 January 2013
bank will issue you tds certificates only after revising TDS Return.... i
if you have filled you returns already, and they have been processed, than you need to contact your AO and discuss the problem.. i would advice you to hire a CA to get all things in order
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