Tarun (engineer) (39 Points)
18 July 2014My mother is not a working professional.
But she had some FD in her name. But the annual income earn thorugh interest is leass than the 2LPA.
Is it required for her to fill the ITR
If she fill the ITR can she claim the TDS deduction done by the bank because of non submission 15G form.
Also how can i know whether bank is deducting TDS or not or is it automatically deducted .( Sorry for asking such a foolish question)
Answer to Q1.: Its voluntary to file income tax return if your income is less than basic exemption.
Answer to Q2: If Bank deduct tds from FD interest then you have to file income tax return and claim refund equal to tds amount deducted by bank.
Answer to Q3: How you can come to know whether bank deduct tds or not, if your FD interest is more than Rs.10000/- then bank required to deduct tds u/s 194 A. However, you can avoid this tds by submitting Form 15G/H.
Hope from this there no more doubt in your mind.
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