Income tax

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This query is : Resolved

Kausik Ghosh (Querist)

14 July 2015 Bank has wrongly deducted 20%as TDS in stead of 10% on tax gained on interest of MODs however my PAN card was mapped with the respective account and standard instruction was given.i come under 30% Tax slab.Bank has acknowledged the fault ,but as per them nothing can be done from their side they have only given me the receipt of tds deducted.but the dufficult part is that i want to pay the residual 10%tax as per my slab but the initially deducted 20%even is not reflected in 26AS Form.how can i manage it?is it possible that i donot show the interest gained as income from other sources in my return but pay the 10%residual tax in challan to it so that i will be on safer side if any query takes place regarding my itr in future where i can show the tds deducted by bank i.e 20% and my deopsited 10%amount.In my earlier itrs bank use to deduct 10% and reflect it in 26AS.Residual 20% I used to pay as self assesment tax and it was also reflected in 26AS.But this year's deducted 20% has not been reflected in my 26AS.Please guide me.

Rajesh Kothari

Rajesh Kothari (Expert)

14 July 2015 NRI wanted to buy a land in India. Is there any requirement that amount should be paid out of NRE account only and if they do not have such account what is the remedy

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