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DR.V.NEELAKANDAN (PROD MANAGER)     29 May 2013

Income tax

SIR

A government empolyee after his retirement deposited  his pensionary benefits in a bank amounting to rs three laks.He  has no other source of income other than the pension  which is about ten thousand.,He had deposited an amount of rs two laks  taking much strailns in his daily life, Now the authorities deducted  two sthousand samething from his interest and asked him to prodluce PAN CARD'or file H 15  FORM..The only thing he did  was he didnt spend money even for  a sumptous meal during his tenure  as a government employee.'Thus the miser trapped in the net of tax dept..Where as other  small merchants and offidials  are however  capable of evading tax.HLe has been asked to apply FOR pan card. .if he took the dard is he liable for paying tac for ever for this deposit



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 3 Replies

Rajendra K Goyal (Advocate)     29 May 2013

The TDS on interest earned is deducted as per provisions of Income Tax. The person submits a PAN no. and also submit Form 15H in advance, tax will not be deducted from next year. He may get the refund for this year also by filing an income tax return.

R RAJAGOPALAN (ADVOCATE)     06 June 2013

TDS can be easily avoided by filing Form No.15H

BRIJESH KUMAR GANGWAR (AUDITOR)     06 June 2013

He can apply for PAN and file IT Return for this year claiming TDS deducted.


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