Below are my ITR detail in brief:
1. Income from Salary: 5,97,966
2. 80C deduction: 1,00,000
3. Taxable Income from Salary: 4,97,970
4. Total Tax deducted: 30,961
5. TDS deducted on Income other then Salary (FD): 3,476
6. Total Tax Paid: 34,437
Now when I click Calculate Tax on ITR 1 form, it says Refund: Rs 3,750
My question is why I am getting refund back of 3,750. (though it is good I am getting back, but I am confused).
Please help!
Please include Interest Income ( on FD ) underthe head income from other sources and then check.
Dev u r nt showing Intt. on FD under income from other sources that why it is refunding tds on income other than salary alongwith its intt. thereon.
Thanks Syed & Varsha,
Now Refund is 0 
But Tax Payable is: 3,200
It means they have included the FD interest under 20% slab.
But as much I know Bank interest can only be 10% (if PAN is specified) independent of person's income tax slab.
Please le me know if I am wrong.
Your TI after interest income exceeds 5L making you fall in 20% slab. The bankhjas rightly deducted @ 10% under section 194A. Therefore the balance 10% is payable by you alongwith education cess.
Thanks Dipjyoti for the reply,
but what if I don't show my FD interest in ITR 1 form in order to save that extra 10% tax. Will it cause any trouble later ?
CAclubindia
