26 March 2011
I had invested some pocket money in company fixed deposit . At the time of redemption, even after submitting form 15G , TDS got deducted by the company.
As my annual income is not huge, so filing IT return is not compulsory for me.
Can I hold those TDS certificates until I become CA myself or is there any time limit to claim REFUND ?
Just like a cheque expires after six months from writing it , is there any expiry date for TDS certificates ?
27 March 2011
TDS certificate is not a FD which can be encashed on expiry. If the income is not taxable during any assessment year then TDS for that year has to be claimed as refund for that particular assessment year only.