07 April 2016
Hi,
My grandmother received a letter from the IT dept. saying she had not filed the IT return for the financial year 2013-14. And asked for a response for the same in 20 days.
Her income is only the interest from FD every year.
Doesn't cross any slab.
But last 2 years she forgot to file form 15H with the bank so they kept deducting TDS.
So what should she do about this?
Also, the letter is dated February but it was received only today. So I suppose I should count the 20 days from today?
Pls help and advice.
07 April 2016
Count 20 days from to day keep the cover. Reply to the notice as saying her only income is interest from FD and no taxable income and forgot to file form 15H for last 2 years. Also say the source for FD.
08 April 2016
So, response should be:
1. Income is interest from FD in xxx bank
2. There is no taxable income.
3. Forgot to file form 15H for last 2 years.
That's it?
08 April 2016
So, response should be:
1. Income is interest on FD from xxx bank.
2. There is no taxable income.
3. Forgot to file form 15H for the last 2 years.
That's it?
08 April 2016
The response is manifold. 01. Inform the IT dept that since the income is below taxable, ITR has not been filed. 02. For the TDS of earlier years, you can claim the refund, if you wish so, by filing ITR 03. Prospectively, submit form 15H, if you do NOT wish to get the tax deducted by the banks.
10 April 2016
Okay. But what should I write in the Remark column in response in the IT website?
I will state that the income received during that year is below taxable limit. Should I specifically mention what all income?. Should I mention that I forgot to file from 15H for that year?
11 April 2016
Response can be : Since the income is below taxable, the ITR has not been filed. Please note that filing form 15H is at the choice of the assessee. There is no any compulsion of filing the same. In fact, in all those cases, where the income is taxable, form 15H can NOT be filed. Ok? Now in your grandama's case, since her income is below taxable yet TDS has been done since she has not filed form 15H, she can very well claim the refund of the same. Please note it
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