Hi All,
My friend's father is a senior citizen. He had below 2 fixed deposits:
Rs 1302048
20 Nov 2021 - 20 Nov 2022
Rs 17223
11 Feb 2021 - 11 Feb 2022
He had missed to submit 15 G form in bank in FY 2021-22 and FY 2022-23.
Due to this, bank has deducted Rs 7359 as TDS.
Transaction Date: 26 Mar 2022
Date of booking: 30 May 2022
Amount: Rs 6970
Transaction Date: 26 Mar 2022
Date of booking: 30 May 2022
Amount: Rs 14
Transaction Date: 11 Feb 2022
Date of booking: 30 May 2022
Amount: Rs 375
Total TDS: Rs 7359
His total income for FY 2021-22(pension, savings interest, FD interest, etc) is Rs 105522. As per IT Dept, if ITR is filed after 31 July 2022, then Rs 5000 penalty will be applied.
Q1. He's a bit confused about Transaction Date vs Date of booking. In which year will the TDS be applicable for ITR? AY 2022-23 or 2023-24? Can he get the TDS refunded to him in AY 2022-23?
Q2. Will any late ITR filing penalty be applicable to him?
Q3. What is the last date to file ITR for FY 2021-22 in his case?
Thanks in advance!
CAclubindia
