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TDS DEDUCTED ON FD BY BANK


trnghosh (sr asst)     28 June 2020

trnghosh
sr asst 
 97 points

| My Other Post

Though my spouse do not have any income *( house wife) but she has some fixed deposit in Bank. She submitted 15 G regular basis as she do not fall under tax category. Recently she transferred some fixes deposit  from her parent branch to another branch and Bank deducted Rs 3834/00 as TDS. The total interest on all the the FD's is around Rs 70000 in a year. She has no other income. Can she submit her online return

(  till now she do not file any return as she is our of tax regime  :-upto Rs 2.5  laksh No Tax

Up to Rs. 2.5 lakhs No Tax

)

 

wherein showing here income as zero and claiming this amount or is there any other way. Please advise. 

 

Many thanks for your time.

avater

Raj C Doshi (Practising CA)     28 June 2020

Raj C Doshi
Practising CA 
 189 likes  2717 points

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She can file her IT return by showing income from FD nterest and claim the TDS deducted for refund.

avater

Bhavin Shah (Chartered Accountant)     28 June 2020

Bhavin Shah
Chartered Accountant 
 38 likes  797 points

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Disclose the income & tds in ITR and claim the refund

avater

trnghosh (sr asst)     28 June 2020

trnghosh
sr asst 
 97 points

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Not proficient so much with ITR filing, however what I understand  if her interest income is say RS 69630.00 in the return I have to put this one and claim the refund. Can anyone please show me in which column I have to put this one. Your help in this regard is highly appreciated. Many many thanks for the reply. 

 

Thanks once again. 

avater

preeti parmar (article)     28 June 2020

preeti parmar
article 
 34 points

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If not registered in income tax site. Go to incometaxefilling.gov.in and fill in the details n register your wife's PAN. After registration, go to login n fill in the credentials.
Then go to your profile, e-file>income tax return>fill details n choose "ITR-1" n submission mode as "prepare online and submit" and continue. Rest in the other sources income fill in the interest income details.

avater

trnghosh (sr asst)     28 June 2020

trnghosh
sr asst 
 97 points

View Profile | My Other Post

Many many thanks for the response. 

avater

trnghosh (sr asst)     28 June 2020

trnghosh
sr asst 
 97 points

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Miss/ Mrs parmer your instruction :Then go to your profile, e-file>income tax return>fill details n choose "ITR-1" is really helpful for me. 

 

Thanks. 

 

avater

preeti parmar (article)     29 June 2020

preeti parmar
article 
 34 points

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Your welcome. M glad the information was helpful for u.!


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