How will we show in the computaion statement "interest paid to NRI"? As it is exempted u/s 10(4)/. But TDS has been deducted.& he is eleigble for refund of the same.
Kindly help
Divya Karthik (S) (459 Points)
02 June 2010How will we show in the computaion statement "interest paid to NRI"? As it is exempted u/s 10(4)/. But TDS has been deducted.& he is eleigble for refund of the same.
Kindly help
Amir
(Learner)
(4016 Points)
Replied 02 June 2010
Dear Mohan,
Are u sure that TDS was deducted on the interest of same securities which are notified u/s 10(4)?
Am asking this becos exempt income does not attract TDS.
Anywayz if at all it was deducted the same can be claimed as refund if eligible by showing "Nil" income. {I am still not convinced that this could happen}
kantijain
(Chartered Accountant in Practice)
(385 Points)
Replied 02 June 2010
Dear Mohan,
I agree with amir. Also u have not specified wat kind of interest income it is & who has done tds.
If tds was wrongly done than file the return claiming exemption u/s 10(4) and giving details of tds, u will be able to get refund if the deductor has really done tds & deposited the same with the central govt and filed its quarterly tds rerturns.
Also why dont u ask client to register for Form 26AS wherein he can view his tds.
Regards
kanti jain
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