Dear Friends,
I am having FD in various Bank Accounts and have submitted form 15g in all banks, due to the mistake of one bank officer my 15g was not recorded properly and the bank deducted tds on a fraction of interest. Now the total interest earned on FD during FY 12-13 comes to around 60K out of which bank deducted TDS of rs.140 only and i had planned my investments so as to make my taxable income to 199000 to avoid tax, now on FD income of 60000 do i need to pay tax on 60000 or 50000 also how to pay the pending tax money and show this in ITR, do i really need to file ITR as bank deducted and issued Form 16A and also in my Form 26 AS not only the interest amount on which tds was deducted is shown but the interest portion for which Form 15g is submitted that also is shown, but in other banks where i submitted form 15g they have not shown the interest in form 26AS.
Please tell me should i file ITR also i got pan card in 2004 but never filed return but my PAN is active status and only 2 yrs ago i crossed taxable salary income and made investments to adjust it,
IF i need to file ITR should i first pay tax or mention the details and then pay the amount displayed in Tax Return. Form Also after paying the Tax + interest do i need to submit any return or revised returns of Form 24Q as in my office my name is not in any return as i submit investment proof and be within tax limits.
CAclubindia
