Bank deduct tds on interest on fixed deposit
This query is : Resolved
15 January 2016
my mother had deposit in FD in nationalized bank for one year . the investment amount is RS 500000. we have deposit the 15h/15G in bank to get waiver from regarding Tds . but bank deducted Tds Rs.1990. it is showing in 26 as. please advice me how do i get this amount form income tax department. As my mother 's income does not cross the taxable limit. please adive in this regrads ...
CA PARAS BAFNA
(Expert)
15 January 2016
For filing ITR it is not necessary that the assessee must have taxable income. You can show the Bank Interest income and other income of your mother, if there be any, and can file the return for getting back refund of the TDS amount.
CA PARAS BAFNA
(Expert)
15 January 2016
Yes. You have to file your mother's return.
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