I am an working woman and i have to pay an amount of rs 36000 as tax for the FY 2012-13.I also have some fds in UCO bank jointly with my brother and some fds as single holder.In my office declaration, i did not declare the fds as i submit 15G form in UCO bank.is this the right procedure or should i declare my FDs in office also.THese fds are above Rs,. 1,00,000/- tax saving limit
Please suggest.
Anindita Das
if you ask for best practice you should disclose it to your employer about interest receipt on FD's
on other hand
you are not eligible to give 15G to bank as your income level exceeds income which not chargeable to tax
so best practice is you withdraw /dont submit your 15G for this year
and show the same in incometaxreturn while preparing return of income of yours,and claim TDS at that time which is deducted
Mam
it is better that you communicate the details regarding interest on fd to your employer
so that he would deduct tds on it, other wise you have to pay it as a advance tax
Note :: Do not fill form 15G from next year onwards since you are not eligible as stated above by my dear member
CAclubindia
