Tds in form 16a -- collected from bank

TDS 244 views 2 replies

I have few FDs in bank and gives me a handsome annual interest more than 5 lacs. Being a senior citizen I submitted 15H to the bank and when I collected form 16A they gave me only one quarter Q4 which has a nominal TDS of Rs.27 only but in Part A1 of 26AS shows the interest credited to me without TDS. The bank person could not answer me why there was no Q1,Q2 and Q3 form 16A. my income from salary is pension  - LIC annuity based and EPS'95 which have no TDS.

There are two queries ..

i) that my interest received from bank is much higher than what is shown in 26AS, so which one has to be shown as income from other sources is the income from 26AS or bank certified interest. Kindly clarify

ii) The interest earned from spouse FD interest is clubbed as my income -- can I also add the TDS shown in her Form 16A although it is very nominal, in my return.

thanks

GR babu

 

Replies (2)

1. As per actual receipt or Bank certificate, whichever higher.

2. Not possible, otherwise error will occur in the system, and attract IT notice.

Because u have provided 15h to bank so bank has  not deducted tds in q1,q2,q3 therefore bank interest paid to u in these three quarter is not appearing in 26as, however you have to show this interest in itr.  may call if not clear 9717597230


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