Tds on bank deposits

babugr (dgm) (509 Points)

10 October 2014  

I have recently deposited FDs in my daughter's name (above 18 yrs) in SBH, and tried to submit form 15G. the bank's system however did not accept the form 15G as the amount exceeds Rs.17 lacs. as a result TDS @ 10% is being deducted on quarterly intt. as my daughter is a student and does not have any other income, is it necessary to file ITR and claim refund, the annual income on a/c of intt. is less than Rs.5 lacs. kindly advise.

thanks