15 June 2015
I HAD FDR IN BANK, 1 FDR MATURED IN FEB-15& 2 FDR MATURED IN MAR-15,DUE TO NOT AVAILABLE OF PAN CARD TDS WAS DEDUCT @ 20%, BUT AT THE END OF MAR-15 I HAVE SUBMITTED THE PAN CARD.BUT BANK ISSUE TDS CERTIFICATE FOR MAR-15 FDR TDS ONLY, FOR FEB-15 THEY TOLD ME" WE CAN NOT ISSUE TDS FOR FEB-15 FDR DUE TO NON AVAILABLE OF PAN CARD. SO I WAN'T TO KNOW IF I HAVE SUBMITTED THE PAN CARD BEFORE THE QUARTERLY RETURN & THEY ARE ISSUING TDS CERTIFICATE FOR 2 FDR BUT THEY DON'T ISSUE CERTIFICATE FOR I FDR INTEREST TDS WHICH IS BELONG TO SAME QTR . PLEAS TELL ME THE RULE WITH IT SECTION.
16 June 2015
The bank was correct in deducting TDS @ 20% earlier but they could have updated PAN in TDS return so that you could get TDS credit. The only option now is to request the bank to revise the return and update your PAN in the earlier entry so that they can issue valid Form 16A and you can get credit in form 26AS.
16 June 2015
Dear Expert Thanks for your reply. i have already request to issued form 16a but thet told me we are not able to issued tds certificate for deduction @ 20% & we don't have pan at the time of dedution.
17 June 2015
They can now issue form 16A only after they revise the TDS return and update your PAN in the return. If they dont, then they will not be able to issue form 16A and you will not get credit till then.
17 June 2015
i just want to know ,if they have pan no at the time of return then if they did not take mar-15 transaction in return. it was their fault.i want to ask @ 20% deduction they are liable to issue form-16a or not. if yes please mention the income tax section. i will mention in letter to bank.
CAclubindia
