Tds refund possible?
This query is : Resolved
25 July 2012
Dear sir,
I have invested in FD in bank on 1-4-2011 for 1.5 years of Rs 3 lakhs.
Intres in FD is rs 40,500.
Bank have deducted TDS but FD is not yet matured.
*my q. is tds deducted can be refunded or not?
(bank refused to me that it is not possible now and said that if you have filed form 15G before 31-3-12 then TDS would not be deduct.)
I have invested in FD in bank on 1-4-2011 for 1.5 years of Rs 3 lakhs.
Intres in FD is rs 40,500.
Bank have deducted TDS but FD is not yet matured.
*my q. is tds deducted can be refunded or not?
(bank refused to me that it is not possible now and said that if you have filed form 15G before 31-3-12 then TDS would not be deduct.)
25 July 2012
You can get the refund of TDS by filing your Income tax return with the IT department. For it you have to get the Form16A from the bank. Please contact your nearest auditor for more details and process of IT return filing and requirements to IT return filing etc....
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
25 July 2012
But i have not taxable income in this year.
Then why i have to file return of income?
3lakhs in FD is saving of so many previous year.
Then why i have to file return of income?
3lakhs in FD is saving of so many previous year.
25 July 2012
TDS once deducted by bank and uploaded in your PAN. it is possible to get back only by filing Income tax return. it is not possible deductor (Bank ) to refund the amount. Even though you are not having taxable income, you can file the return to get the Tax refund, collect your form 16A from bank and check the form 26AS status and file the return for getting refund
25 July 2012
Agreed with the Experts..
Have to file return to get refund...
Have to file return to get refund...
26 July 2012
FOR TDS REFUND U SHOULD FILE UR INCOME TAX RETURN..IF UR INCOME IS NIL THEN UR INTEREST INCOME IS ONLY INCOME FOR TDS REFUND
26 July 2012
you have file the incometax return . then submit to CPc. after you will get refund
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