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.)
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....
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
CAclubindia
