Tds u/s 195
vishak (accounts) (488 Points)
15 July 2014
one bank deducted TDs under 195 sec .when I file income tax return of him which head of income under considers this ?
6 Replies
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 15 July 2014
is deductee NR?? Please mention the nature of income.
Ajay
(CA Job)
(512 Points)
Replied 15 July 2014
Dear Vishak
If the assessee in not a Non Resident, then you may have to ask the bank to make the corrections. I think it is bank's duty to make the corrections when you bring it to their notice (easily said than done). You must contact the bank for details. You can see the details of Challan Correction Mechanism on https://www.incometaxindia.gov.in/home.asp.
The pdf file available on the said web page is attached herewith.
Regards
Ajay
Attached File : 14524 1338369 leftmenu challancorrectionmechanism 26082011.pdf downloaded: 169 times
vishak
(accounts)
(488 Points)
Replied 15 July 2014
Ajay sir in this case TDs is applicable because allso non resident have tax liability to pay tax on income generated in India. This income is his bank interest from SBT means income generated in India also taxable.
Ajay
(CA Job)
(512 Points)
Replied 15 July 2014
Dear Vishak
You mean to say that the assessee is a Non-Resident and he has earned an interest on bank account?
If this is the case, show the interest earned under "Income from Other Sources" in the ITR and claim the corresponding TDS also in the TDS Sheet.
Is there any further complications/information?
Regards
Ajay
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