09 December 2012
Dear Sir, i am working in one bank and handling TDS. I want to know if any customer fills form 15g on 16th november (declaration date is 16thnov) and his TDS got deducted on 5th november. Can we give refund to that customer?? Please note that TDS already been remitted to govt on 7 th nov. please guide correctly.
09 December 2012
No , you cannot give the refund. And when the TDS has been deducted and paid to the revenue , how can you refund it to the customer. If you refund the amount then you will have to pay it from your own pocket. So you are advised not to refund as the customer can claim refund of the TDS in his own return.
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