Today news
About the same in other media
Did not furnish PAN for FD? You can’t claim TDS credit now
Reading now: 123
By Chirag Nangia
My mother is a senior citizen and has not submitted PAN to the bank and income tax has been deducted on her FD for the last three years. How do we get Form 26 AS or Form 16 for the income tax deductions on FDs?—Sudhakar
The bank is liable to deduct tax at source on interest earned on fixed deposits. Thereafter, the bank is obligated to file a TDS return, wherein it is required to report the tax deducted against the PAN of the deductee. This information received by the tax department, is reflected in Form 26AS of the deductee, enabling him to claim credit of such tax from his final tax liability, at the time of filing of return of income. Since you had not furnished PAN to the bank for the last 3 years, the TDS returns filed
Read more on financialexpress.comAbout this in other media
How can we tame the tech giants now that they control society’s infrastructure? theguardian.com /2 years ago
How you can benefit from group insurance as an employer financialexpress.com /2 years ago
Jack in the Box claims in court FTX US ripped off its character to create 'Moon Man' cointelegraph.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
