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Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 can a person claim tds deducted by the bank @ 20%, where the person had not ever applied for Pan no.
?

U S Sharma

U S Sharma (Expert)
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05 July 2011 98% not possible to claim back the TDS which is deducted for non submission of pan.

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 what about that 2%?

U S Sharma

U S Sharma (Expert)
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05 July 2011 2% chance is that bank will revise the tds return in favor of depositor and issue form 16A

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 if bank is not agree to revise the return

U S Sharma

U S Sharma (Expert)
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05 July 2011 20% TDS is penalty provision, and in 98% cases it can not be claimed, its lesson for depositor not to avoid incometax.

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 but when the person has only a little income which evaded him to take a pan no.

U S Sharma

U S Sharma (Expert)
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05 July 2011 if he has a little income, then how did he got tax deductible interest income at bank? why not he filed 15G ( most suitable remedy for such cases), ignorance is not an excuse.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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05 July 2011 If your income is below the taxable limit then you can file form No. 15G but if not filed then supply the PAN Number to the Bank for the deduction of TDS and procure a TDS certificate and claim in your return by filing a return of income of actual income.

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