Fixed deposit TDS claim for last FY

POSTED BY Sachin Gogia ON July 29, 2013 12:16 pm ONE COMMENT


I am facing issues in filing Income tax return. I had a Cumulative Fixed Deposit which I bought in FY 2011-2012 and TDS ( @ 10%) was deducted in the same financial year. This fixed deposit got matured in the last FY 2012-2013 and as I have opted to stick to Receipt / Maturity Based Tax Filing, I need to file the returns by July 31, 2013.

How can I claim tax deductions done in the last to last financial year against the maturity in the last financial year?  Any other suggestions/ leads are most welcome!!  


One reply on this article “Fixed deposit TDS claim for last FY”

  1. My understanding is TDS will always ve deducted each FY. If you choose to pay deferred tax then tax over and TDS can be paid when FD matures.

    There is no question of tax deductions or reimbursement.

    if your slab is 20%, you will ned to pay 10.3% tax on maturity (bank would have deducted the rest)
    If your slab is 30% you need to pat 20.6%

    if you slab is 10% you owe nothing.

    All this assuming bank has done it job right.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.