Itr filing eligibility

I have income from Interest in Savings Account and FD's Interest... Interest from FD's Interest exceeds INR 40,000/- Some income from work I do for overseas clients and my total income is below INR 2 Lacs for FY 2013-2014

 

I want to know if I needs to file ITR, and in any case I want to file ITR to avail possible Loan in future. Advice on this.

Replies (10)
Yes. It is advisable to file your return of income within the due dates. 1. Tax must have been deducted at source since your income from fixed deposits exceed rs. 10000. So by filing your return you will be claim refund of tax. 2. Since TDS must has been deducted , if you do not file return , you will be served upon letters and notices for non filing of return. 3. Most importantly , income tax return is must for applying for loan. 4. This will be a compliance from your side and also benefitting you in many ways. Regards Raj C Doshi ... email : rajcdoshi @ gmail.com

Yes, file your returns after checking 26AS.

Yes it is advisable to file your income tax return. As t.d.s on FDR interest must have been deducted by bank. & also reflecting in 26AS so after reconciling with 26AS file your i.tax return with in due date. for any assistance in filing of return contact-diwan.ca @ gmail.com
Yes you must file ITR to claim tds
if assessee submits the 15h form to bank by saying that I don't have a taxable income

Even if he submits form 15G to bank and there is no TDS, the interest amount will appear in 26AS. Since he wants to apply for loan, its better that he files the return.

Can you tell me the instance how it will be usefull in future???

He can also claim any benefit under the provision of IT Act if he didnt return his earlier...

But in our case the said assessee is not attracted by Sec 139 of the IT Act.

 

Do I need TDS certificate or Interest certificate or just fill-up ITR online form and what form to fill for FY2013-2014?

First of all if your interest is under form 15g then no tax is deducted by bank and hence its not compulsory to file your return but its advisable. Secondly if you are working as professional for overseas clients you need to file ITR 4. And there is no need for interest certificate with the itr but you can keep it as a document for the future. Your interest will be under income from other sources.

Bank deducted TDS on my FD interest last fiscal year. Do I need TDS certificate to file ITR to get TDS refund? and form 26AS can be submitted online from ITR website?

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