Comment posted on Income Tax E-filing and its benefits by ravindra.
Thanks Pankaj for quick reply.
ravindra also commented
- One more question, can I instruct bank to deduct TDS at 30%.
- Hi Pankaj,
I am in 30% Tax bracket, and have earned bank interest of 50000. Bank has deducted TDS at 10%. I have to pay remaining tax, but as TDS certificate is issued by back after 31st March, I am paying remaining tax as self assessment tax. But if I use ITR1 xls to file my return it is showing me interest penalty. do I have to pay interest or is there some way to avoid this in xls sheet.