TDS claim on interest of bank fixed deposit

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Company Secretary
41 Points Posted on 01 August 2023

Dear Professionals,

Kindly help me in below case.

Find below the facts about income of Mrs. X.

Can Mrs. X claim TDS deducted by bank on interest earned on fixed deposit? If yes, how?

  1. Mrs. X is 34 years old.
  2. Her taxable income after deduction  is more than Rs. 2,50,000 but less than Rs. 5,00,000/-.
  3. She earns interest on fixed deposit Rs. 60,000/- per annum.

Thanks in advance.

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On 01 August 2023 at 12:02 Report
Replies (5)
Quick Summary
This discussion addresses whether Mrs. X can claim the TDS deducted by her bank on interest earned from a fixed deposit. The consensus is yes, she can claim the TDS amount by filing the appropriate Income Tax Return (ITR), likely ITR-1 given her income bracket. The IT department will refund the TDS amount if her annual income is below Rs. 50 lakhs.

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1175 Points Posted on 01 August 2023
File appropriate ITR
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On 01 August 2023 at 12:20
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"Do the Right Thing...!!!"
77792 Points Posted on 01 August 2023
Yes,
She definitely claim that TDS amount.
File suitable ITR as per her income nature and get refund of TDS amount.
1 Reply
On 01 August 2023 at 12:34
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Chartered Accountant
16188 Points Posted on 01 August 2023
Yes TDS can be claimed while filling ITR
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On 01 August 2023 at 16:41
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58 Points Posted on 04 August 2023
Since annual income is less than rs.50,00,000 YOU CAN FILE ITR-1.THE IT department will refund the amount of refundable
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On 04 August 2023 at 08:50
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Profession
19974 Points Posted on 04 August 2023
Tds on annual income less than rs.50 lankhs. file itr1
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On 04 August 2023 at 12:59

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