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Tds charge on bank deposit & claim for ay 14-15

Efiling 413 views 1 replies

maharaj

accountant

165 Points Joined October 2009

Dear All

I have one client who has deposited the money in same bank with two TERM deposited amount one for 12 months and other for 24 months.

For the F.Y. 2013-14 Bank deducted as TDS charge on fixed deposit amount @ 20% basis instead of 10%.

He has PAN number any how may be PAN number to given to the bank a/c or other mistake at the time of form fillup.

Now he wants to claim TDS amount through E-filing. I have checked the 26A and there have no TDS transaction showing. Just bank give him a Interest rate summary for 2103-14 with details of TDS deducted.

INT. SHOWING FOR F.Y.13-14 Rs. 12000 & TDS deducted @ 20%. Now how he can claim this TDS charge from Income tax. He as no taxable income.

Thanks. Please share your advice.

Replies (1)

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

ask the client to submit a copy of pan at bank branch and request them to revise tds return..... after the tds return is revised, the tds amt will appear in 26as of the client and then he can claim such tds as refund.