Refund of income tax

This query is : Resolved

Vishva Abhishek Tarar (Querist)
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13 August 2015 I am a Female/38 years and have two sons 12 and 14. My husband died in abroad accident and I got an insurance claim under MACT of about Rs. 60L. With equally distributed with my sons with 20 each. As per Court Orders, all the amount have been deposited as FD and we get interest as monthly served which is the main source of income of us. Now, we have 3 FD of 20L each with different accounts in Bank. 2 bank accounts are minor with me as Guardian. These FDs are since 2010, and I have never filed any ITR before AY 2014 2015 and plan to file for AY 2015 2016. The bank has been deducting the TDS on the interest on the FDs but as my PAN was not quoted, they continuously deducted 20% which was not reflected in my 26 AS. Can I file ITR for AY 2011 2012, AY 2012 - 13, AY 2013 - 14 and claim my refund? The bank is ready to provide me the TDS Certificate for the previous years. Please guide.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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14 August 2015 You cannot file ITR for all these years now as the time limit is over. However you can make an application to CBDT u/s 119(2)(b) of the IT Act. Recently a circular no 9/2015 dated 09.06.2015 has been issued by CBDT in which detailed procedure for refund claim in belated cases has been specified. However as provided by circular belated refund claims are subject to verification and scrutiny and to be issued in only genuine difficulty cases after verifying that the assessee did not had any taxable income.
Moreover since PAN was not quoted, no TDS will reflect in 26AS and therefore refund claim will not be entertained. Now quote your PAN to your bank so that TDS may be deducted @ 10% against your PAN. Also note that your minor children's FD interest will also be clubbed in your hands.