Poonawalla fincorps
Poonawalla fincorps

Tds refund against 5 year fd in bank

This query is : Resolved 

11 May 2012 My father is a salaried employee and pay the TDS around Rs.2700 for FY 2011-12. But after paid of TDS he told me that thera a new FD make of Rs.50000 in Bank for 5 years (2011 to 2016). Please tell me how to refund TDS, which type of return have to submit, the procedure to e-filling return in website.
He had not submit IT return yet.
The FD contain three name, 1)My Father self, 2)My mother, 3)Son (my self)
Thanks in advance.

11 May 2012 You have to file ITR 1. Show the interest income under the head Income from Other Sources. Enter the details of salary income and TDS on salary and TDS on interest.


11 May 2012 You will have to file ITR 1, you can claim deduction u/s80C for the investment made in FD for 5 years.

Even if the TDS is deducted by the employer, you can compute ur tax on your own and claim the refund.

You will have to show interest income also on accrued basis.




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