Tds on bank interest
This query is : Resolved
20 April 2012
Sir
Total income of my Grand father is below Rs one lakh, which is well below the taxable limit. He is not having any PAN card.
But tds is dedcuted on his FD in the bank for last two years.
Please advise
a) how can he get back the refund from it department
b) how to avoid tds deductions in the future.
Thanks
Total income of my Grand father is below Rs one lakh, which is well below the taxable limit. He is not having any PAN card.
But tds is dedcuted on his FD in the bank for last two years.
Please advise
a) how can he get back the refund from it department
b) how to avoid tds deductions in the future.
Thanks
20 April 2012
First of all apply for PAN.
a) To get back the refund submit the PAN to Bank and ask them to revise their return mentioning the PAN no. Chances of this are very slim. If they do that than you will be required to file your income tax return to claim the refund.
b) to avoid this deduction submit form 15G/15H. 15H for senior citizens and 15G for others.
a) To get back the refund submit the PAN to Bank and ask them to revise their return mentioning the PAN no. Chances of this are very slim. If they do that than you will be required to file your income tax return to claim the refund.
b) to avoid this deduction submit form 15G/15H. 15H for senior citizens and 15G for others.
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