Mismatch of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2014 R/ Professionals,
I filed my income tax return for the assessment year 2013-14 and claiming tds of something amount but it is not reflected in 26as form because bank deducted TDS @ 20 % due to non availability of my PAN no.

income tax department raised intimation u/s 143(1) regarding mismatch of TDS.

what can i do to satisfy AO and to claim refund.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 October 2014 Ask your bankers to file revised TDS return including your PAN No. then it will be reflected in your 26as. After that inform the AO file rectification u/s 154.

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2014 Your suggestion is right but if the banker revise his tds return then he can deduct only 10% tds but in my case tds is deduced @20%. so how can the deductor show the deduction of tds @20% instead of 10%.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 October 2014 20% deduction can be shown in TDS return which is actual and amount already remitted to Govt.

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2014 thanks,
but then what i have to do rectification of tds return by the bank?
whether i have to file an application or other manner i can request for such revision?

is it fair/regular practice for bank to rectify the return for a single deductee?

and the bank will be agree to do it?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 October 2014 Contact the bankers bank will rectify the return.

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2015 Please also clarify whether bank has any right to claim the charges from the customer, of rectification of return?

On the grounds that the bank was correct that if the customer has not submitted the PAN then the TDS rate shall be applied @20% and same has been deducted by the bank, so the reason of revision of TDS return is the mistake of the depositor and not of the bank so the bank will not bear the charges.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 August 2015 Yes the bank has the right to claim the charges being mistake committed by depositor. The charges being around Rs.50 bear it and get corrected the return.

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