Tax on refund from abroad income

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Amit007 (Querist)
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23 May 2016 Dear Sir,

I have two queries regarding income tax.

1> One of my friend received a Refund in May 2016 for 1300 USD in his US bank a/c. This refund came from the US tax Authorities. He filled his Income tax return on 1 January 2016 in USA for the income earned in USA. He was there in the US for a short duration of 2 months He transferred this in his India account, he is always a Resident Indian status as far as Income tax is concerned.

So, does he needs to pay tax on this refund in India for the amount he received from USA. If yes , which income head will it be added, and in which financial year he need to add this income.

2> One PSB suddenly stopped deduction of TDS from my FD without any reason. I did not submit any form 15G or 15H, they deducted tds till dec 2015 and from jan 2016 they are not deducting. when I asked them they say they will do it from next FY, I have raised a complaint online as below with the bank website, but still they do not respond, please assist, if that will get me in any trouble with the IT dept

ank stopped deducting TDS on FD without any reason from Jan 2016. Incorrect form 16A data for the TDS, Did not submit form 15G/H, please deduct correct tax and deposit to Govt, Why not deducting tax when I did not submit form 15G/H. Branch people not rectifying mistake, I will be harassed and called for IT scrutiny for this wrong info by the bank.Please rectify else I will report to IT Dept, banking Ombudsment and RBI. Bank should deduct correct Tax and deposit to govt and give correct form16A

Thanks
Amit

Amol S Joglekar

Amol S Joglekar (Expert)
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23 May 2016 if he is resident, why only REFUND, he has to pay tax on his entire US income.....forget about only refund...... He may, however claim double taxation relief.

Amol S Joglekar

Amol S Joglekar (Expert)
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23 May 2016 02.. Please do NOT forget that paying income tax is PRIMARILY your very own concern. Bank has failed in its duties in deducting tax, is one thing. But tell me, who has stopped you from paying the same at your own, say before 31/03/2016?
Vis a vis, as has been rightly put by you in your query, go to Bank Ombudsman to get the relief from the cencerned PSB. (It has happened in case of SBI, in some cases)

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Amit007

Amit007 (Querist)
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23 May 2016 thank you sir for your reply,
just raised a complaint for the Bank with the Ombudsment website. I never expected the Bank to stop deducting tds so never bothered, when I checked my form 26AS, I was shocked to find entries that they were not deducting tds, any way its a small amount, I will definetly pay, just do not want to be harassed by IT dept for wrong info from Bank.

Amol S Joglekar

Amol S Joglekar (Expert)
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24 May 2016 you are most welcome.

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