For tds

This query is : Open

Dhruv Mehta (Querist)
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07 November 2009 1)Hello sir my grand father died in this year he puted two fd in icici bank, and that was due in sep.Or oct. My queation is we was gave form for senior citizen for nt dedut tds but bank did mistake and they didnt submit my tds form. And i loss of tds amount is 2400,he saying that they provide tds certificate. But i havent pan number of grand father because they didnt apply, so what i do? Can i apply 4 new pan number?Or any other option 4 recover my tds amount?Please say me.

2)Sir, my father is working person in private company , if i will use of him name for tds i want to file revise return and 2nd thing f.D intrest income is also add in my father income so its taxeble amount for my father and my father paid tax is 30000 this year mean 2009-10 and i m thinking if i will apply grandpa name of new pan card and then claim for tds in It and after 1 year ya will recive amount of tds & i will close grandpa bank account too after then all i will surander pan card .Is this posible?

Guest

Guest (Expert)

07 November 2009 You can give your father's PAN no to Bank as the income will be of your father.

Sunil

Sunil (Expert)
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07 November 2009 Agreed with Expert.

If you elaborate a little on what the mandate of operation of the FD was it will be possible to give you a more specific answer. Was it in joint name with your father on Either or Survivor Basis or was it your father as a nominee of your grandfather. If it was an either or survivor account and no PAN number was quoted, normally the TDS certificate would have been issued in joint names. You can quote your fathers PAN number and ask ICICI Bank to file a correction with NSDL so the amount of 2400 gets credited to your father's PAN. If your father received sum as nominee also you can ask ICICI Bank to do the same. Normally for small deposits Banks do not ask for probate or succession while paying out to nominee and they would take the nominees PAN and revise their TDS return. For very large probate of estate normally the legal heir / administrator handles the PAN of the deceased as a representative assessee where there are too many legal heirs and accordingly also files the returns and claims the refund for the deceased person's estate. Your amount of 2400 in a year indicates of a small deposit of between 25000 to 30000 and you can handle it with ICICI Bank using nominee's data. Once you have certificate in hand claim for refund through IT returns. For income accrued after the death of the first holder you can furnish 2nd holder (E or S) or Nominees PAN but not the Form 15H of senior citizen unless nominee is also senior citizen.

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Dhruv Mehta

Dhruv Mehta (Querist)
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07 November 2009 Sir, my father is working person in private company , if i will use of him name for tds i want to file revise return and 2nd thing f.D intrest income is also add in my father income so its taxeble amount for my father and my father paid tax is 30000 this year mean 2009-10 and i m thinking if i will apply grandpa name of new pan card and then claim for tds in It and after 1 year ya will recive amount of tds & i will close grandpa bank account too after then all i will surander pan card .Is this posible?