If a Religious trust wants to claim the refund of TDS deducted on its Bank Deposit maturity by submitting form 15 G, can the tax be refunded to the trust after generating form 15G for the same accoun t by the Bank? The trust has submitted form 12 AA from the Income Tax Dept. in this regard. Can anyone help me in this subject? I am a Banker.
04 November 2016
15G to be submitted within stipulated due date or along with FD, every bigging of the year you have to give fresh 15G for non deduction of TDS.
If bank already deducted tds and respective quarterly TDS return is filed, it is better to claim refund by filing tax return.
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