there are diffrent schemes from banks offering intrest on a certain amount as deposit on which intrest is payable after a definite pariod say 5 years.. if the deposit is withdrawn in between the period no intrest shall be paid..intrest is credited to the customer a/c on accrual basis and accordingly tds is deducted and paid to the central govt. a/c.now the problem arises when a customer withdraws the amount between that period say in the 2 nd year..no interest is payable to the customer. and hence intrest credited to his a/c is reversed. but the problem is with the treatment of tds already deposited to the central govt. a/c .. who is entitled to claim that tds..and how can he claim that... plz advice..
CAclubindia
