07 September 2013
Case : A women being a school teacher in a small village and having a total taxable income of Rs. 1,20,000. p.a appx.
She saved money for years and ultimately does a FD in SBI branch of that village for earning some money . In P.Y 2012-13 , she earned interest thereon ... where the branch manager didnt notified her about the TDS rule and deducted TDS @20% as she was not having the PAN.
Then she applied for the pan in year 2013-14.
The question is as her income is much below the taxable limit and bank had deducted TDS at 20% . Now if she file the return how can she get the refund. Can we compel the branch to revise the TDS return and issue a TDS certificate for the said period so that refund claim can be made where the assessee has been alloted the PAN after 1-4-2013.
CAclubindia
