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TDS MADE ON BANK INTEREST OF MINOR.

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79 Points Joined September 2018
TDS has neen deducted on bank interest of the amount of compensatiion awarded by court as the father of minor died in accident. Minor has no income of his own to club with income of parent. So who is the IT authority to ask for nrefund How to get refund of TDS deducted.
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On 18 July 2023 at 10:13 Report
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SEO Sai Gr. Hosp.
211539 Points Joined July 2016

Who is the guardian of the minor as per bank record?

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On 18 July 2023 at 10:25
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79 Points Joined September 2018
Mother is guardian. Tried to create account for her son as a representative. Got rejected 3 times.
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On 18 July 2023 at 11:32
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Profession Business
28196 Points Joined May 2017
Mother is the assesse who is the deductee here.
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On 18 July 2023 at 12:34
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SEO Sai Gr. Hosp.
211539 Points Joined July 2016

The interest would be taxable in her hand. She can claim the TDS against the interest income offered.

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On 18 July 2023 at 12:43
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79 Points Joined September 2018
Mother has filed her return of income showing only her income AY. 2022-23. What application to be filed for revising the claim.
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On 18 July 2023 at 12:53
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SEO Sai Gr. Hosp.
211539 Points Joined July 2016

As on date you cannot revise the return. But if there is any additional tax liability, file UPDATED ITR.

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On 18 July 2023 at 14:59
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79 Points Joined September 2018
Thanks sirji
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On 18 July 2023 at 16:40
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SEO Sai Gr. Hosp.
211539 Points Joined July 2016

Most welcome.. 

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On 18 July 2023 at 17:21
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79 Points Joined September 2018
Sir the TDS is reflected now in parent PAN. What application should be filed. Condonation or rectification. Refund claim was made in the return filed.
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On 15 October 2023 at 23:42
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SEO Sai Gr. Hosp.
211539 Points Joined July 2016

File updated return with additional interest income declaration.

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On 01 May 2024 at 16:18

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