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TDS on SCSS not shown in form 26AS

P.C. Chaturvedi (REtired Electrical Engineer) (70 Points)

03 September 2021

I hold 2 saving bnk accounts in ICICI bank (my wife is joint holder in both accounts). We, I and my wife have invested in Senior Citizen saving scheme (SCSS) through our bank with respective PAN numbers. We did not have in FY2020-21 much income from fixed deposits which call for TDS deduction. But TDS is being deducted from interest from SCSS in both the banks. Since there was no TDS other than interest on SCSS, bans did not issue any form 16A, TDS certificate etc. Therefore our form 26AS do not show any entry (all entries are zero). Therefore I am not able to fill our Income Tax return (I will not get refund as no TDS is appearing in form 26AS. My question is is not the responsibility of the bank to issue the form 16A indicating the anount paid and the tax deducted?

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2 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 03 September 2021

If TDS has been deducted by the bank, then the bank is obliged to issue form 16A. Please ask the bank to either provide TDS certificate or else credit the tax wrongly deducted.

Rocks Parss (241 Points)
Replied 17 September 2021

Form 26AS does include the TDS deducted on SCSS only it is not mentioned as SCSS but shown as deduction from Bank Interest i.e. payee is shown as Bank. If you can share the Bank maybe comments can be had from others having SCSS in the same Bank. Thus the name of the deductor will be the Bank and section under which deducted will be 194A.

In a case where SCSS was through ICICI Bank since last two years For 26AS showed accordingly as mentioned above. If Form 15H is given and no deduction is made there may not be TDS. Kindly check with you bank.