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Senior Citizen Tax Deduction Query: Can I File Return and Get Refund?

T S Khurana |367 Answers |Ask -Follow

Tax Expert - Answered on Feb 13, 2025

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Question by Arun on Feb 13, 2025Hindi

Money

Dear Sir, My mother is a senior citizen. She is 85 years old. she has income from pension and interest on savings which together is less than 5 lacs per year. A TDS of 7275 was deducted in FY 2023-24 by bank even after submitting Form 15 H and TDS is being deducted in FY 2024-25 also. Can she file return for FY 2023-24 now or along with 2024-25 for refund of TDS. and how ?. Pls advise.

Ans: Last date of filing of ITR (Belated Return) for F/Y 2023-24 was 31.12.2024, wjich was further extended to 15.01.2025. Now, you cannot file belated ITR to claim TDS Refund.
You are also not eligible to file UPDATED ITR, since you have claim of TDS Refund.
However, for next year (F/Y 2024-25) you may file ITR in time (by 31.07.2025) & claim Refund of your TDS Deducted.
Most welcome for any further clarifications. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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