Need suggestion from TDS Expert

It is necessary to File ITR for Claim TDS Refund.

If you have gifted Rs 1,70,000 to your mohter, then this will not be taxed in her hands. Since money received (in gift) from relatives (spouse,parents etc) doesnt attract tax liability in the receiver's hands. But you should have a gift deed done for this purpose.

She can show only Rs 20,000 as income from other sources.

to claim refund filing of return is necessary.. n income from other sources would be 20000 bank interest received

Dear Sharma ,

The Form 16 A privided by bank having PAN number of my mother. But when i am checking form 26AS for my mother PAN number , not finding any tax is submitted by bank corresponding my Mother PAN CARD ?

Should i file ITR ?

Thanks
vikas

If You have original form 16A in your hand, then u can file ITR. Amount is not reflecting in your 26AS means either deductor has not filed TDS return or wrong quoted PAN number. In your case PAN number is correct. It means bank has not filed TDS return. But not worry, Bank have always practice of late TDS return filing, due large volume and verification.

Plz someone tell me the TDS rates applicable for FY 2011-12. On which types of payment TDS should be deducted & on howmuch?

Yes you are needed to file ITR of your mother to get your refund of your TDS Deducted. The total income would be Rs. 20000 and gift received from you Rs. 170000 will not be taxable in your mother's hands.

Vikas if form 26AS is not getting matched with the form 16A given by bank then that doesn't mean that the bank have not filed its TDS Return. Generally Bank have heavy entries to be filed in the TDS return and the Income Tax Department also have to upload those entries to the website. So it is delayed by the IT Department itself to upload the bulk entries. So do not worry just file your return according to the Form 16A and ignore 26AS. Form 26AS could only be used to just verify the Form 16A but if Form 16A is with you then nothing better can help you.

Also if any additional entry is being shown by Form 26AS than Form 16A then the form 16A could be challenged otherwise not.

Regards,

Vaibhav Garg

vikas,u need to file ITR of ur mother as income from other sources Rs.20000 and claim refund.i think your salary income is subject to TDS so it wont be taxable in your mother's hands.if amount of TDS is not traceable in her 26AS it may be because of error from bank's side at the time of filing their TDS return.you may approach bank with a letter for rectifying the error if it persists after filing the return

I made FD with one ltd co in my joint name 1st name is of my mother she has not any other income,co deducted TDS shall i claim refund of that tds in my ITR

Only your monther can the ITR to get TDS refund. because credit of income goes to the the first holder of the Fixed deposit. same thing you can trace from the 16A and 26AS.

Bank has deducted TDS despite you have filed Form 15G/ 15H then advise bank managers reverse the same rather than adopting refund route...

If u have not filed 15G/15H, then go for refund route by filing ITR..

Make sure that, every year you file 15G/15H for avoiding TDS...

Pls give form 15H to the banker for not deducting tax for future years.

File ITR-1 for claiming refund of Rs.2000.

Gift given to relative is exempted u/s 56 

regards

nagaraj