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TDS REFUND

TDS 261 views 5 replies

MY CLIENT RECEIVED MOTOR ACCIDENT COMPENSATION WITH INTEREST INSURANCE COMPANY INTEREST PORTION DEDUCT TDS AMOUNT. CAN I APPLY TDS REFUND?

My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
My clients son had died by motor accident and which was sattled compensation from Insurance Company but TDS has already deducted under section 194A from the amount of compensation. My question is whether the TDS is fully refundable, if it yes, then what is the process of refund and how They can claim by which ITR Form.

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
Tax deducted on compensation of ground of motor accidental death

Read more at: https://www.caclubindia.com/forum/tax-deducted-on-compensation-of-ground-of-motor-accidental-death-467154.asp
Replies (5)
Yes, You can claim TDS while filing your income tax return (IT return).

sir, Thanks your reply....

Any notification or order available above querry

As per income tax Act, 1961 You can claim credit of all TDS ( whatever type) deducted on any income in you income tax return in a year in which such income is offered to tax.

So, you are required to show that interest as income from other sources in Income tax return, and claim corresponding TDS in same IT return.

Thanks lot ji very nice your reply

Most welcome...


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