Tax on Fixed Deposit

[Satyen Rohit]

TDS of 20% is deducted from my fixed deposit interests because I didnt file for income tax. Please let me know how to get refund of income tax ?

[DR.MARIAPPAN GOVINDARAJAN]

You may provide the PAN to the bank and request the bank to revise their TDS and get refund.

[Ganeshan Kalyani]

Yes , the return has to be revised.

AI Summary

Tax Deduction at Source on interest can be corrected by furnishing PAN and revising the tax return to claim refund. Tax Deduction at Source on fixed deposit interest was applied because the taxpayer had not provided PAN; the remedy is to furnish PAN to the bank so it can revise its TDS entries, and the taxpayer must file or revise the income tax return to claim refund of excess tax deducted.