Tds controversy
This query is : Resolved
09 August 2011
The assesee has gathered fund for maintainence of the building. The entire fund is kept in fixed deposit with bank. The building is maintained by the interest that is received from the fixed deposit. Now the tax is deducted at source from the interest that is received from fixed deposit. What should be the remedy to save this TDS??? Whether the AOP should be formed or Whether Non Profit Organisation should be formed???
10 August 2011
TDS can not be saved,but if there is no taxable income at the end of the year than TDS can be claimed for refund.
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