26 April 2013
I have kept deposit with the bank where i fail to provide PAN, hence bank has deducted TDS @20% and bank are denying for giving TDS certificate.
Now my question is,
1. How I claim the TDS amount which is deducted by my bank.
2. Is there any specific form to claim such types of TDS.
3. What can I ask to my bank for a documentary proof of deduction of tax other than interest certificate.
26 April 2013
Bank can not deny to provide TDS certificate if it has deducted the same from your interest income.
(1) You have to claim TDS certificate either through written letter whereby they will be binding to issue the same on on before 15th May as per Income Tax Act,1961
(2) Alternatively you can also ask for your deposit scheme statement whereby they will show deduction of TDS and Interest income which you can claim as deduction.
(3) Ideally if bank had not file the return than better to submit the PAN and get the TDS entry in your name or ask bank to revise the TDS return.
These are the only remedies available to you in such circumstances.
Your point (2) is not a practical one as Bank reflect the net amount (after TDS) in statement.
Your point (3)Submission of PAN before e-filing of TDS Return may help but to expect Bank to revise the Return is a non-practical.
@ Mr Rajiv: How the amount will get reflected in 26AS when Bank has or will e-file Return without mentioning his PAN?
@Mr Kashyap: The best way is to get Form 16A or Certificate on Letter head from Bank confirming the amount of TDS @ 20% with other relevant details. Please file your Income Tax Return on considering the interest income and TDS
28 April 2013
Ask the Bank to give a letter stating that though TDS is deducted on the deposits, it could not issue TDS certificate due to non-submission of PAN Number.
29 April 2013
Kashyap, my idea is, it is better to request the banker to file a Correction ETDS return to update your PAN. Then only you can get Credit on your PAN without any further worry. It is easy and Final.
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