Tds filing query

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This query is : Resolved

Merina (Querist)

20 August 2013 Hi Experts,
I have got the details of TDS deducted by a bank for filing purpose ( April to June 2013). The issue is that about 80 percent of the customers for whom the bank has deducted TDS has not provided PAN number. I have heard that if we file return for a quarter with more than 15 percent of the people having no PAN the return filed will get rejected. Kindly confirm. What are the options available for me to file the TDS return?

Regards
Merina

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

20 August 2013 In my view, you can help the people by applying their PAN or getting Form 15G/15H signed from the weaker section of the public, so that higher deduction @ 20% can be avoided by them. This is a professional opportunity and service to the society as well.

Merina

Merina (Querist)

20 August 2013 Thanks a lot sir.I really appreciate it. But the thing is that the bank is situated more than 300 kilometers away from my office. Most of them are NRI's too. I hope you might have understood my current concern. Thanks a lot.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

20 August 2013 There is a practical difficulty.
.
Still you may try to file the return.

In case higher deduction @ 20% is made, I presume that the return will be accepted.
.

Merina

Merina (Querist)

20 August 2013 Thanks a lot sir.

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

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

20 August 2013 If NRi are having deposits with the bank then TDS is not required as it is exempted from tax provided the money has been transferred from NRE A/c. In the case which you are facing the difficulties let the bank prepare a circular letter informing the depositor to provide PAN Number. Generally without PAN Number no account is opened and the FD account is opened that of the present account holder so you can easily get the PAN Number of the account holder. This exercise you have to do and you can charge additional fee for this exercise from the bank as it is the prime duty of the bank to collect PAN number of the depositors.

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