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Tds query

pritesh (CA Final student) (7101 Points)

31 December 2018

Fd has been created in the Name of A..and the interest has been credited to A account but awhile deducting tds it has been deducted in the name of B...what can be done now.?

both A and B are family member.

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7 Replies

Sagar Devani (Corporate and International Taxation) (1174 Points)
Replied 31 December 2018

Revised TDS return is required to be filed. Since, TDS is required to be deducted in the name of holder of FD and the person who recieves the interest.

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pritesh (CA Final student) (7101 Points)
Replied 31 December 2018

Bank is not revising TDS return.

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 31 December 2018

There is an option in ITR form to transfer such TDS to other person.
In Sch TDS2(i) select 'Other Person' in column 'TDS deducted in name of' and then fill details of your PAN in last column.

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pritesh (CA Final student) (7101 Points)
Replied 31 December 2018

k tqsm

in itr4 can ido this?

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 31 December 2018

yes auc option is also available in ITR 4

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pritesh (CA Final student) (7101 Points)
Replied 31 December 2018

ohk. tqsm everyone.

RAJA P M ("Do the Right Thing...!!!") (127977 Points)
Replied 31 December 2018

Originally posted by : pritesh
	Fd has been created in the Name of A..and the interest has been credited to A account but awhile deducting tds it has been deducted in the name of B...what can be done now.?both A and B are family member.