We present results from our Giant Metrewave Radio Telescope (GMRT) HI observations of the Arp 305 system. The system consists of two interacting spiral galaxies NGC 4016 and NGC 4017, a large amount of resultant tidal debris and a prominent tidal dwarf galaxy (TDG) candidate projected within the tidal bridge between the two principal galaxies. Our higher resolution GMRT HI mapping, compared to previous observations, allowed detailed study of smaller scale features. Our HI analysis supports the conclusion in Hancock et al. (2009) that the most recent encounter between the pair occurred $sim$ 4 $times$ 10$^8$ yrs ago. The GMRT observations also show HI features near NGC 4017 which may be remnants of an earlier encounter between the two galaxies. The HI properties of the Bridge TDG candidate include: M(HI) $sim$ 6.6 $times$ 10$^8$ msolar and V(HI) = 3500$pm$ 7 km/s, which is in good agreement with the velocities of the parent galaxies. Additionally the TDGs HI linewidth of 30 km/s and a modest velocity gradient together with its SFR of 0.2 msolar/yr add to the evidence favouring the bridge candidate being a genuine TDG. The Bridge TDGs textit{Spitzer} 3.6 $mu$m and 4.5 $mu$m counterparts with a [3.6]--[4.5] colour $sim$ -0.2 mag suggests stellar debris may have seeded its formation. Future spectroscopic observations could confirm this formation scenario and provide the metallicity which is a key criteria for the validation for TDG candidates.