16 October 2018
Individual had received a Demand Intimation for AY 2014-15, AY 2015-16, AY 2016-17, due to not allowing the credit of TDS deducted on interest to his minor SON
Individual has clubbed his minor son interest income in his ITR and accordingly claimed the credit for TDS deducted against son PAN number but the same credit has not been allowed and demand intimation has been generated for the same
how to rectify this issue?
how to claim the TDS credit deducted against minor SON PAN, Kindly Suggest
17 October 2018
Such adjustment is possible only in the current year return. Pay the demand and file ITR of your son through condonation application with CIT claiming refund of tax deducted.
17 October 2018
If the bank was informed earlier , by said assesse( at the time of making FD with the bank) quoting DOB of minor son,with specific instructions to make TDS certificate in the name of parent( M / F), and same been done and Interest certificate /TDS certificate was issued , he simply had to quote as annexure as reply of demand notice, for corresponding years
CAclubindia
