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Tds deducted in fd on the name of minor child

veera (self) (287 Points)

22 October 2020

sir my daughter is minor & i open an fd in the name of her.
and i get the maturity amt after deduction of tds
sir is there any why to get her tds amt.
pls share your best information

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9 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 22 October 2020

Bank deducted TDS @ 10% if interest paid above Rs. 10000 per year.

Minor or Major (No issue)

you can club FDR interest income in your return and claim TDS amount

1 Like

ayusmita (Tax consultant) (5885 Points)
Replied 23 October 2020

You can claim it on behalf of her as she is minor and you are her father in your own return

veera (self) (287 Points)
Replied 23 October 2020

The amt deducted is not showing in my 26as so how i can i claim the tds
pls explain it .

JATINDER KUMAR (Accountant) (3662 Points)
Replied 23 October 2020

Request to deductor, please file tds return
after that you can claim TDS amount

ayusmita (Tax consultant) (5885 Points)
Replied 23 October 2020

Does you give a declaration form to bank as per section 37BA (2)

veera (self) (287 Points)
Replied 23 October 2020

No sir i didn't file declaration form

ayusmita (Tax consultant) (5885 Points)
Replied 23 October 2020

To claim the credit you have to report that
to your bank
hmmm ok you can now ask your bank if you can now or any alternative for that
it's needed

2nd one collect a statement of TDS of FD from the bank with duly signed by the bank authority or the top management means the manger ,MD or chairman of the bank if above is not happening then it will helps you if notice by chance comes to you and you can show it as a proof that TDS being cut from you

JATINDER KUMAR (Accountant) (3662 Points)
Replied 23 October 2020

Only solution, request to deductor file TDS return if not filed or revised tds return after that you can take tds credit

veera (self) (287 Points)
Replied 30 October 2020

Should i can claim f.y2018-19 tds , which was deducte in the name of my minor child by providing declaration form to bank. i don't have any idea about it
pls suggest best way to me...