Online income tax reurn file
This query is : Resolved
08 June 2017
Mr. X was received Rs. 11,71,000.00 from Nationalized Insurance Co. as per instruction/guidance of Sub-Div. Judge Court for accidental death of his only son. Insurance Co. issued TDS certificate of Rs. 46,000.00 (as Non PAN deductee) against amount paid or credited of Rs.2,30,000.00 U/s. 194A.
Now, Mr. X wants to file return and get back the TDS amount.
What would to do?, Please help and advice.
Now, Mr. X wants to file return and get back the TDS amount.
What would to do?, Please help and advice.
CA Rashmi Gandhi
(Expert)
08 June 2017
Apply for PAN.You will receive it within 10-15 days.
Give that no to insurance co & ask them to revise there return.
Then file your IT Return claiming refund of TDS deducted.
08 June 2017
Thanks Mam,
He have PAN, Insurance Co. wrongly deducted as Non PAN Deductee, But my question is what will be his income?, Is it Rs.11,71,000.00 or Rs.2,38,000.00, Please advice about Form No. & Income Amount.
He have PAN, Insurance Co. wrongly deducted as Non PAN Deductee, But my question is what will be his income?, Is it Rs.11,71,000.00 or Rs.2,38,000.00, Please advice about Form No. & Income Amount.
CA Rashmi Gandhi
(Expert)
08 June 2017
Income of Rs.1171000/- is shown in ITR-3.
Suresh Mittal
(Expert)
08 June 2017
Taxable income is only Rs. 2,30,000.00 being interest. Insurance claim is exempt income. ITR-1
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