Tds

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sundeep (Querist)
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27 June 2019 I prematurely withdraw my FD in Vijaya bank in April 2019 for 5 Lakhs tenure less than a year. Bank paid me 22500/- as interest after penalty.But in form 26AS, Bank showing 29002/- as interest paid. Bank informed me that the difference is deducted as tax and will reflect in FY 19-20. How to claim refund for this TDS in my next return FY-19-20 . where there will not be any interest against vijaya bank TDS deducted in form 26AS.
My total income is below Rs.2,50,000/-.I want to claim refund next year.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 June 2019 Your total income is below 2.5 lacs( next year up to 5 lacs exempt) so next year file return claiming refund of TDS you will get it.

sundeep

sundeep (Querist)
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24 July 2020 I have found my prevous F Ys years form 26 AS updated with adding "section E" wherein some very high figures > 10L is shown by Bank/s. what are these figures. what do they indicate and what should be done about it by a tax payer. The figure obviouly is a cumulative figure of bank transactions. But unclear as to which particular transactions. one more column says mix or cash. please explain in details so it could be shared amongst my friends and well wishers. Also it will help the general public qat large. Thanks in Advance.

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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27 July 2025 Sure! Let me explain both your queries one by one:

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### 1. **Premature FD Withdrawal TDS and Refund**

* Your FD interest was Rs. 29,002 as per **Form 26AS**, but you received Rs. 22,500 after penalty.
* The difference (Rs. 6,502) is TDS deducted by the bank.
* Since your total income is below the basic exemption limit (Rs. 2,50,000), you are **eligible for a full refund** of this TDS.
* **How to claim refund?**

* File your Income Tax Return (ITR) for FY 2019-20.
* Report your total income (below exemption limit).
* Report the TDS amount as per Form 26AS.
* The refund will be processed by the Income Tax Department.
* Make sure to keep the **Form 26AS** and **bank TDS certificates** handy as proof.

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### 2. **Section E in Form 26AS with High Figures**

* The "Section E" entries in Form 26AS typically reflect **details of high-value transactions** reported by banks and financial institutions to the Income Tax Department.
* This includes:

* Deposits above Rs. 10 lakh
* Cash transactions beyond prescribed limits
* Other financial transactions under the Income Tax Act’s reporting requirements
* These are **informational reports** and not directly taxable.
* It helps the tax authorities track **unexplained or large cash transactions**.
* As a taxpayer, you generally **do not need to take any immediate action** unless these figures relate to your own transactions and you have not reported them properly in your return.
* It is useful to review these entries for correctness, and if discrepancies arise, consult your tax advisor or file a clarification.

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**Summary you can share:**

* Premature FD TDS can be claimed as refund by filing ITR if income is below taxable limit.
* Section E in Form 26AS is for large transaction reports by banks, mainly for Income Tax vigilance, usually no action needed by regular taxpayers.

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If you want, I can help draft a simple explanation note for your friends and well-wishers on this topic. Would you like that?

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