What Journal entry should be passed in following case?

Bank A/c Dr
To Interest on ReFund A/c
To TDS A/c

Bank A/c Dr. 28,140/-
To Income Tax refund. A/c Cr 26680/-
To Interest on refund A/c Cr 1460/-
( Income tax refund with interest)

Refund is credited to only one Bank account because, in return you have mentioned, refund to be credited to Bank account no so and so

You Can transfer 4775/- to another bank account,
so pass contra entry

Bank A A/c Dr. 4775/-
To Bank C A/c Cr 4775/-
( Transfer entry) .

We maintain two seperate tally for seperate bank accounts how to adjusted two different TDS receivable account with account maintain with different companies bank account

Transfer is not main issue.
çreation òf liability
payment of liability
excess refund to be retained

Just transfer the amount of Income Tax in than bank account.

Practically maintaining two tally for different accounts is not a good idea. You have to maintain details of bank account of other tally also for contra entry or inter transfer entry