80G and TDS

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Sandhya (Querist)

21 April 2009 X is a salaried employee with M Ltd.X has income from other sources (Bank FDs)and salaried Income only-Both of which TDS is deducted.During the FY 2008-09, he has given donation u/s 80G, eligible for 50% wiegthed deduction to a charitable organization.However he cannot show 80G deduction against his salary income.He can claim in Return of income.My query is:This would result in refund of tax.Instead can he avoid refund of tax and fill Form 13 and submit to allow M Ltd to charge a lower TDS Rate?This way he would not have any refund and pay exact amount of tax?Is there any other wat to resolve this problem.Please help.Urgent.Thank you.

Brij Bhushan Sangal

Brij Bhushan Sangal (Expert)

21 April 2009 He can opt both option as most suitable for him.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

21 April 2009 Financial year 2008-09 is , as you know, is over by 31/03/2009. The employer as well as the bankers might have deducted tax also for the said period. In such a situation question of form 13 does not arise. In other words form 13 would have been filed before the close of the financial year and the certificate thereon would have been given to the employer on or before that date to enable then to consider lower rate of deduction. Therefore my answer to the query is file the return and claim refund.

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