TDS even after submission of Form-15H

Save Share

This query is : Open

Quick Summary

A customer reports that SBI deducted TDS on their Fixed Deposit even after submitting Form 15H. The bank manager suggested filing a tax return for a refund. The advice given is that filing an Income Tax Return is the most effective way to claim the TDS refund for the relevant financial years. If the TDS issue relates to earlier years, escalating to senior bank officials and mentioning the Banking Ombudsman can prompt action.

sudhir ch. saha

sudhir ch. saha (Querist)

29 August 2020 Sir,
SBI deducted TDS even after submission of Form-15H. After reporting Br. Manager of bank advised me to take refund through filing of Return . The FD was for five years and TDS was deducted for first two years. It has come to knowledge on maturity . Is it possible to claim refund of three years back and if not , where complaint can be lodged against bank for compensation for loss of interest . Then it will be an extra burden of cost for filing of return by Income-tax expert for consecutive two years.
with regards,
Sudhir saha

CA Raj Doshi

CA Raj Doshi (Expert)

30 August 2020 The return can be filed for FY 2018-19 by 30.09.2020 and for FY 2019-20 by 30.11.2020. I think efforts in the direction of refund through ITR would be more fruitful than filing a complaint. However if the TDS pertains to any other previous financial year, you can first approach the senior executives and the Bank Head Office and you can tell them about your intention to approach the banking ombudsman. Once you will take the name of Ombudsman, everything will start moving in your favour.