Need A Financial Product Forums Tax Savings Can I claim TDS on my FDs in ITR

This topic contains 1 reply, has 2 voices, and was last updated by  Sukesh Singh 2 years, 8 months ago.

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  • #46729

    Sukesh Singh
    Member

    I am jobless for last one year. My only income during last financial year was from term deposits with Axis bank. Interest on fixed deposits was more than Rs. 15,000 and since I didn’t submitted form 15G, bank deducted tax on it. Can I claim refund of this TDS in income tax return?

    #46730

    Vicky Mehta
    Member

    Since the tax has already been deducted by Axis bank, you cannot recover it back from them. Banks usually deposit TDS to IT department within couple of days of deduction. You can claim refund in ITR provided your tax paid is more than tax on taxable income.

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