I made a Fixed Deposit of Rs. 1Lakh at a contracted @7% for a tenure of 3 years on 1April 2021 in a private bank.
However due to some reason i prematurely closed the Fixed Deposit on 3April 2022. Being premature closure,the interest rate paid by the bank was reduced to 5% for the FD deposit period viz. 1April 2021 to 3April2022.
But the Bank had already deducted TDS each quarter of FY 2021 starting April2021 till 31March2022 on the interest paid @ 7% and the same had been deposited to Income Tax Department and also being duly reflected in the 26AS against my PAN for all these 4 Quarters of FY 2021_2022 (AY2022-2023).
Now the issue is as actually my actual income is less than the income reflected in 26AS, i am entitled to pay less income tax and so claim partial refund of TDS reflected in 26AS.
Please advise how to treat this TDS in my income tax return filing for the AY 2022-2023?

A Resident assessee opened a saving account in Singapore(Currency US$).
and tfd funds from India. Then he purchased share in New York Stock Exchange. On selling those shares he earned STCG of USD 2000 and LTCG of USD 3500.

Now I have 2 questions :-
(1) what will be the taxability of these gains in India ??
(2) Can he send the sale proceed from selling the shares to his son residing in Australia as Gift ??

we have extended warranty of car for rs.130000/-.Is TDs is applicable on it and if applicable under which section. Kindly explain

Sir i am suffering from heart disease and i have to take medicines on daily basis which costs Rs. 35000 per year. can i claim under 80DDB. I AM A GOVT EMPLOYEE

Dear Experts,

In one of the cases , buyer of the property has not paid 1% of transaction amount towards TDS. What can a seller of the property do to claim TDS? Can he officially intimate income tax department about non compliance on buyer's part?

Also will the buyer receive any notice from income tax department for not paying TDS? If yes, within what time? It is already 9 months from date of registration of property.

Regards,

Dear Sir

I Have linked pan with aadhar but portal is showing the pan aadhar link status from 10 days. and when i was callijng for OTP , portal saying that link aadhar.

Pls help !!!

Dear Sirs,

My father died last financial year 2021 . For financial year 2021 i registered my mother as legal heir and filed my fathers income tax return under his PAN.

My question is how to file return for FY 2022 . My father has received fixed deposit interest and dividend into his savings account , under his PAN for FY 2022 . TDS has also been deducted for the same .

Can i just add my fathers income to my mothers income and file under my mother's PAN ?

Can i enter the TDS deducted under my Father's PAN into mothers IT return . if that is not possible how can i show the TDS deducted in my mothers return so that total tax to be paid is less. I read another post here where advice was given to file father's return with no income but with TDS entered in order to get refund , is that advisable ?

Thanks in advance.

Dear Sir,

One of my client has purchased a property and wants to make TDS payment. He has made the payment to the builder in 2 installments. He paid Rs. 32 lacs in Feb 2023 and 32 lacs in March 2023 and has also applied for loan for balance payment to the builder.

My query is do I need to fill Form 26QB separately for each payment made. Also what should be the date of payment I must put for the installment he will receive through loan. Bank is insisting on making entire TDS payment including loan amount.

Please help me in this matter.

Thanks,
Divyesh Jain

Dear Sir,
In our organization in appointment Letter we agree to pay Rs. 300000/- to a employee after completion of 3 years.

We made provision for Retention payable for first two year but we have not yet paid as 3 years yet not complete

Please confirm whether we have to deduct the TDS on this amount in first 2 years. and if we paid the TDS for first 2 years and employee leave the organisation before completion of 3 years. what will be accounting treatment.

thanks in advance

IF Assessee is Trading In FY 21-22, and Turnover From Option Exceeds 1 Crore then TDS Provision Is Applicable On Him or Not?