Tds deducted on saving.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2013 Hi,
I have invested Rs 10,000.00 10 years ago. As per the document after maturity i should get 28910.00, however actually i got 27011.00 and i was told that 1891.00 was deducted as TDS, and they asked me to collect the TDS certificate after 4-5 months.
so my question is can i get the certificate and can i get the refund while submitting my returns.

or what is the procedure for getting the deducted TDS amount?

CA Pallav Singhania

CA Pallav Singhania (Expert)
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10 October 2013 If an investor submits Form 15G stating that he has no taxable income, the bank would not deduct any TDS on the interest earned. For senior citizens, the requisite form to avoid TDS is 15H.

But now as the TDS have been deducted first collect Tds certificate from Bank get help of ca or tax consultant and file a return and claim amount from IT office..

regards,

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 October 2013 its a small amount. Kindly file TDS return at the end of the year and claim refund for taxes, if excess deducted. Whether refund is due or not shall depend on your total income.

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