My mother has paid tax of rs 23,000 for assesment year 2014-2015 and rs 15,000 for assessment year 2013-2014 respectively which is 10% TDS on Bank FD. But her total income of Rs 2,30,000 and 1,50,000 is under nil tax bracket. Can we claim tax refund for the paid TDS now?
Asked 2 years ago in Income Tax from Mumbai, Maharashtra
Legally you can claim back refund only be declaring your income in income tax return but
For the A.Y. 2013 -14 & A.Y. 2014 - 15 the time period for filing income tax return is already expired but you can submit the letter for claiming refund for both the year and meet your local assessing officer for the same with doing detailed working of taxable income.
Yes you can definately claim the total TDS amount deducted by the Bank . You can file your income tax return mentioning the Income and TDS deducted and claim refund for the TDS deducted.
For assessment year 2014-15 you can file Income Tax return and claim refund. For assessment year 2013-14, the time limit for filing return is over. However, you can file an application with your jurisdictional ITO in accordance with Circular No. 9 of 2015 dt 9th June 2015 issued by the CBDT and claim refund.
Yes u can file the Income Tax return for AY 2014-15 and claim the refund.