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Details of tax deducted at source for 15g / 15h

Tax queries 3971 views 6 replies

Hi, In this financial year form 26as, I can see some amount ~4000INR under head "details of tax deducted at source for 15G/15h". This amount is for the interest earned by me on the 5 years fixed deposit (under 80C). My question is, Do I need to show the above income in this financial year income and pay tax over it. Or Do I need to show this income under the head "Exempt income" and do not need to pay tax over it in this financial year.

Replies (6)
never heard of tax saving FD. if you are taking about deduction of 80c due to 5yr FD, then intt on such FD is taxable each yr on accrual basis. you need to show this income under other sources in itr and pay tax accordingly.
Originally posted by : Tribhuvan Aditya Singh
never heard of tax saving FD. if you are taking about deduction of 80c due to 5yr FD, then intt on such FD is taxable each yr on accrual basis. you need to show this income under other sources in itr and pay tax accordingly.

Thanks.

Sorry for confusion. I mean by 5 year FD which comes under 80C.

Now about interest on above FD,

I have never seen these interest being shown in form 26as. Only this time, I can see interest is being shown for these FD in form 26as. Do you have any idea why these FD interest is shown under different head "Details of tax deducted at source for 15g/15h".

there can be two possible reasons for this..... first, you would have submitted form 15g/h and even then tds was deducted. or second, while filing tds return by bank, the officials mistakenly showed tds deducted on your FD under 15g/h.

thanks for clarification. I never submitted form 15f/15h for these FD. So if there is no other reason then, it looks like it's bank mistake that they have shown them under form 15g/15h. Now what to do? should I ask bank to fix it so that trace log reflects it correctly.

yes you should inform bank about this so that they can correct the mistake.

Dear sir,

I have seen 26AS where mention  Details of Tax Deducted at Source for 15G / 15H Total amount credit Rs.13984/- I have submitted 15G in a bank. So means bank has deducted TDS on this value. 

Total Tax Deducted 0

Total TDS deposit  0

Please clear to me Sir

 

 

 


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