Interest on fd

There can be two cases:-

One she has not given correct PAN to the bank.

Second she has opened FDRs in different branches of same bank so that interest in each branch is not more than Rs. 10,000/-

if she has provided form 15G, it means that bank will not deduct any tax from interest component, hence bank will not deduct tax and will not file TDS return and you will not find the same in form 26AS.

Read section 194A with section 206AA of income tax act 1961

Regards,

Sayli Jain

sayli12345 @ gmail.com

As your client doesnt has any other income so she filed form 15G asking bank to not deduct tds so bank has not deducted and thus reflecting in 26as.

You just file ITR 1 at the time of maturity of Fixed Deposits or renewal as the case may be showing interest income as 'Income from other sources'.

Income Tax Return in Form ITR 1 shall have to be filed in this case. However, if the lady is having only this much income and no tds been deducted, ITR need not be filed compulsorily.

Since she has given 15G declaration bank had not deducted TDS on interest but even if on 26AS it should reflect this fact that she has given declatation in 15G.

File ITR-1