Can we get back TDS cut by Bank on FD interest while filing ITR?

POSTED BY papia ON March 3, 2014 7:14 pm COMMENTS (3)

Hi, I am a senior citizen and retired without any pension (No income). I have some FDs which returned interest more than Rs 15000 last financial year. I forgot to fill 15H form last year hence a huge amount is cut from my FD interest as TDS by bank. My question is can i get back that amount this year by filing ITR? Also, let me know if by any means i can get back that amount.

3 replies on this article “Can we get back TDS cut by Bank on FD interest while filing ITR?”

  1. ashalanshu says:

    Dear Papia, please file your ITR now if not filed already. You ‘ll get the refund for TDs amount.



  2. bemoneyaware says:

    Our article Fill Excel ITR1 Form : Income, TDS, Advance Tax covers filling form in TDS

  3. bemoneyaware says:

    Yes you can recover your refund.
    TDS on FD is at the rate of 10% while interest is fully taxable based on your income slab. So if TDS is less you need to pay more tax while filling in the ITR.
    So if TDS cut is more than the tax based on one’s salary then you can claim the TDS while filling income tax return. Make sure that it is reflected in Form 26AS.

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