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Itr filing for house wife

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Ujjwal Singh

Student

21 Points Posted on 05 September 2016

Sir,

A Senior Citizen hosewife had only source of income as FD interest approx. 2 lac. for which she had paid TDS to two bank where she had her FD. now she want refund of TDS paid by filing ITR-1. I want to know all aspects related to it like

maximum limit of exemption.

income is shown under which head.

under which section relief is to be shown.

etc.

Thanking you sir

Ujjwal Singh

Replies (2)

CA MANISH BINDAL

CHARTERED ACCOUNTANT

353 Points Posted on 05 September 2016

File Itr-1 and claim refund. Basic exemption limit for tax of senior citizen ( above 60 years but less then 80 years) is Rs. 300000. and for super senior citizen (Above 80 years) is Rs. 500000. Hence you can file itr-1 and claim whole amount deducted as tds as refund. Income is to be taken as income from other sources.. and from next time file 15H form in bank so that tds will not be deducted.

CA Harshal Totla

Chartered Accountant

1575 Points Posted on 05 September 2016

The tds in this case could be avoided had they file Form 15H to the bank. But no worries, remember it for the coming financial years and file ITR-1 this A.Y. to claim refund of tds.