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Income tax returns

165 views 3 replies
1.why TDS is deducted for senior citizens only at the end of the year not from the beginning of the year ?
2.why should the difference comes if the actual IT refundable amount in assessment year(ex.317890) is varied from refund amount credited in bank (ex.308456), irrespective of the interest credited on such refund?
Replies (3)
1. TDS will be deducted as per TDS provisions, it's not like as you mentioned in query.
2. You can check intimation u/s 143(1) of the Income Tax Act,1961 as received by you on your registered email id.
Pls check if the tds deducted is in excess of the amount of provisions as mentioned in the relevant sections.
1. There is nothing like it. Earlier estimated interest income might not cross the threshold for TDS deduction. But may be New FDs add during the year hence a change in interest income probably crossing the threshold and hence TDS deducted for the whole year together in the later part of the year.

2. Refund claimed say 100, refund received say 95. Interest included in 95 is say Rs.7... so you recieved 88 as tax refund instead of your claim of Rs. 100. That's generally coz of earlier years unpaid tax/interest. Check for Intimation under 143(1) for outstanding demand adjusted details


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