Sir My client is NRI. He worked in abroad. He got retirement benifit of Rs.50 lakhs in the May 2020.
During the fy 2020-21 he withdrawed Rs 30 laksh from his bank. So TDS u/s 194N was deducted. He had no income other than retirement benifit duing the fy 2020-21.
He got bank interest 93000. So taxable income is only 93000 in india. can we file only showing 93000 as taxable income and get refund of All TDS amount (194N). Please clarify my doubt.
Check his residential status. also taxability of 50 lakhs retirement benefit; accordingly file return.
TDS deducted is always adjusted against his/her tax liability.
CAclubindia
