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I faced a case :
One person "P" registered for a plot amounted to almost Rs
400000 to a real state company, XYZ. But XYZ is unable to
provide the plot even after 2 years. So they are returning
back the money along with the interest. Interst amount is
almost Rs 66000.
XYZ company is deducting the TDS from the interest. Are
this company is doing right by deducting the TDS from the
interest income?
The profile of person
Case 1 : P is a student and don't have any income.
Case 2 : P is earning more than 10000 pm if interest income
is included.
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