Can I claim TDS on my FDs in ITR

[samkapoor77]

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?

[samkapoor77]

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.

[Author]

Posts