Tds deducted @ 20%--- claim in return

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 May 2016 Hello friends

1 I had opened a FD with a bank in May'2013.
2. PAN number was not given to the bank but PAN card was available at the time of opening of FD.
3. Bank deducted TDS on interest @20% for FY 2013-14, 2014-16 & 2015-16.
4. Collected TDS certificates from Bank recently for all the years.
5. Return for above mentioned FY's not submitted/filed as no other income.

Questions:

A. Can TDS be claimed through Return for all the years?
B Can Income tax Return be filed for FY 2013-14 & 2014-15?

Gokul Sharma

Gokul Sharma (Expert)

21 May 2016 you can not file ITR of fy 13-14 ... and if your income is below taxable limit you can claim deducted tds...

Ganeshbabu K

Ganeshbabu K (Expert)

21 May 2016 1)Yes can claim TDS for all years offering corresponding income in their return of income
2)belated return can be filed for F,.Y. 2014-15 and return for F.Y.2013-14 can be filed by filing condonation perition u/s 119(2)(b) only paper return if there is refund receivable

Message likes : 1 times

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

22 May 2016 20% deduction is in case of non PAN provided to Bank. if they rectify or update at the time of filling tds return then it will accessable to claim tds in your return for the F.Y. 14-15 and F.Y. 15-16. for F.Y. 13-14 you have to claim as said by ganesh sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now