regarding form 15g

This query is : Resolved

ritika (Querist)
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30 April 2016 My client income from fds is more then 250000.so according to new rule form 15g is not been accepted by bank and tds is being deducted.Is there a way by which my client can get this tds amount which is deducted back.

CA MANISH SAXENA

CA MANISH SAXENA (Expert)
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30 April 2016 Hi Ritika,

Once you file the ITR of your client and will calculate the Total Tax Liability and is such liability is less than the total tax deducted then only you can get the TDS deducted back.
In one line you cant save the TDS by filing 15G you need to file the ITR and then claim refund.

Thanks!

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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30 April 2016 If the total amount of interest income is expected to exceed Rs. 2.50 lakh then you cannot submit this form 15G. False submission may attract penalty. File the return and claim extra TDS as refund.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Disclaimer - Before making any decisions do consult the experts. We do not take any responsibility for misrepresentation or interpretation of act or rules. Neither we nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on.

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