“WHICH ITR FORMS IS TO BE USED FOR FILING INCOME TAX RETURN?”
TAX TALK-31.12.2012-THE HITAVADA
TAX TALK BY CA. NARESH JAKHOTIA Chartered Accountant
“WHICH ITR FORMS IS TO BE USED FOR FILING INCOME TAX RETURN?”
Query 1] I had deposited Rs. 10,00,000/- in IDBI Bank, Nagpur on 19-01-2011. Being Senior citizen of 85 years, I submitted Form No. 15H on 19-01-2011, 21-04-2011 & 07-04-12 for the F.Y. 2010-11, 2011-12 and 2012-13 respectively which were duly acknowledged by the bank . Still TDS was deducted twice and subsequently refunded in my S.B. A/c. Instead of giving full maturity value Rs. 11,41,184/- on 02-06-2012, I was paid as under in my S.B. A/c: 1. On Maturity:Rs. 11,35,759on 02-06-12 2. TDS Refund:Rs. 2,438/-on 25-06-2011 3. TDS Refund:Rs. 2,678/-on 07-05-2012 Total:Rs. 11,40,875/- Thus I was paid Rs. 309/- less. Ifeel that 15H forms were correctly submitted and as the tax deducted amounts were not paid to the Government. I was entitled for full maturity amount. When I visited the bank for inquiry, one of the officers said that TDS was deducted f…
TAX TALK BY CA. NARESH JAKHOTIA Chartered Accountant
“WHICH ITR FORMS IS TO BE USED FOR FILING INCOME TAX RETURN?”
Query 1] I had deposited Rs. 10,00,000/- in IDBI Bank, Nagpur on 19-01-2011. Being Senior citizen of 85 years, I submitted Form No. 15H on 19-01-2011, 21-04-2011 & 07-04-12 for the F.Y. 2010-11, 2011-12 and 2012-13 respectively which were duly acknowledged by the bank . Still TDS was deducted twice and subsequently refunded in my S.B. A/c. Instead of giving full maturity value Rs. 11,41,184/- on 02-06-2012, I was paid as under in my S.B. A/c: 1. On Maturity:Rs. 11,35,759on 02-06-12 2. TDS Refund:Rs. 2,438/-on 25-06-2011 3. TDS Refund:Rs. 2,678/-on 07-05-2012 Total:Rs. 11,40,875/- Thus I was paid Rs. 309/- less. Ifeel that 15H forms were correctly submitted and as the tax deducted amounts were not paid to the Government. I was entitled for full maturity amount. When I visited the bank for inquiry, one of the officers said that TDS was deducted f…