Tds refund
This query is : Resolved
21 September 2017
Hello Everyone,
In 2012 my mother made a Fix Deposit In Punjab Natonal Bank for 5 years on my name under her Guardianship, as i was minor at that time. The Principal Money was 130000 and the Maturity amount according to Bank should be around 200000 in year 2017. In between this time somehow the Joint Account from which the FD was linked got closed. So when I contacted the bank regarding this they said I have to open a separate account (as I am major now) of mine and they will transfer the matured FD amount in this account. so all this happened and i got my money in that newly opened account. but the amount was around 16000 less i.e 184000. when I asked bank about it they said TDS is deducted. as my total income is below taxable income, they said you can file ITR and get TDS Refund. Now my questions are -
1. From where actually the TDS is deducted ??
- From the last account which got closed ?
- Or from the newly opened account ?
2. The tax is deducted on my name or my mother's name ??
* I am asking these things because i have to
show these things in ITR for TDS Refund.
* In the last account nor mine neither my mother's PAN Card was linked.
* In the new account my PAN Card is linked.
* The rate of TDS deducted is 20%.
* On the ITR website in Form 26AS i can't see any deduction for last and this financial year.
Please provide some kind of advice..
Thanks in advance.
In 2012 my mother made a Fix Deposit In Punjab Natonal Bank for 5 years on my name under her Guardianship, as i was minor at that time. The Principal Money was 130000 and the Maturity amount according to Bank should be around 200000 in year 2017. In between this time somehow the Joint Account from which the FD was linked got closed. So when I contacted the bank regarding this they said I have to open a separate account (as I am major now) of mine and they will transfer the matured FD amount in this account. so all this happened and i got my money in that newly opened account. but the amount was around 16000 less i.e 184000. when I asked bank about it they said TDS is deducted. as my total income is below taxable income, they said you can file ITR and get TDS Refund. Now my questions are -
1. From where actually the TDS is deducted ??
- From the last account which got closed ?
- Or from the newly opened account ?
2. The tax is deducted on my name or my mother's name ??
* I am asking these things because i have to
show these things in ITR for TDS Refund.
* In the last account nor mine neither my mother's PAN Card was linked.
* In the new account my PAN Card is linked.
* The rate of TDS deducted is 20%.
* On the ITR website in Form 26AS i can't see any deduction for last and this financial year.
Please provide some kind of advice..
Thanks in advance.
22 September 2017
Actually your PAN is nit registered with bank that's why they deduct 20% TDS on interest & thats why it is not shown in 26AS.
You have to contact with your bank to update your PAN & add you PAN in TDS return.
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22 September 2017
Thanks for replying... As i mentioned while opening the account i provided them my PAN card as a proof.
22 September 2017
But TDS was deducted in earlier a/c. So please contact with your bank & ask them to correct their TDS returns.
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22 September 2017
as you mentioned the tax is deducted from previous account... what if the Bank officials say that at the time of deduction your PAN was not linked so now you can't get tds refund
28 July 2025
This is a tricky but quite common situation with TDS on FDs when PAN was not linked initially. Here’s a clear breakdown:
---
### 1. **From where was the TDS deducted?**
* TDS is **deducted on the interest accrued on the FD**, usually when the interest is credited or on maturity.
* Since the original FD was linked to the **old (now closed) account**, the bank most likely deducted TDS at that stage — even if the PAN was not linked then.
* The new account where the maturity amount was finally paid may not have been the source of TDS deduction.
### 2. **On whose name was TDS deducted?**
* Since the FD was opened in your name (under guardianship), the **TDS should ideally be on your PAN**.
* However, if PAN was not linked at the time of deduction, the bank might have deducted TDS as per default rules, i.e., at the **highest applicable rate (20%)** without PAN.
* If the PAN was never updated in their TDS records, this can cause the TDS amount **not to reflect in Form 26AS** under your PAN.
### 3. **Why TDS is not appearing in Form 26AS?**
* Form 26AS shows TDS credits only when TDS returns are filed by the deductor mentioning the correct PAN.
* Since the PAN was not linked earlier, the bank may not have reported the TDS against your PAN, so it doesn’t show in Form 26AS.
---
### What can you do?
1. **Request the bank to update PAN details retroactively** in their TDS records and revise TDS returns filed with the Income Tax Department.
* This should link the TDS deduction to your PAN and make it appear in Form 26AS.
* Banks usually can revise their TDS returns for a limited period.
2. If the bank **refuses or claims they can’t update PAN retrospectively**, then:
* You can still **file ITR with TDS claimed as refund**.
* Attach the **TDS certificates issued by the bank** as proof of deduction.
* The Income Tax Department can process the refund after verifying the claim, even if TDS is not in Form 26AS.
3. **Always ensure your PAN is linked to all accounts** to avoid such problems in the future.
---
### Important:
* Keep all correspondence with the bank in writing requesting TDS return corrections.
* If needed, escalate to the bank’s TDS or Income Tax Compliance team.
* File your ITR correctly, showing the interest income and TDS deducted as per certificate, and claim refund.
---
---
### 1. **From where was the TDS deducted?**
* TDS is **deducted on the interest accrued on the FD**, usually when the interest is credited or on maturity.
* Since the original FD was linked to the **old (now closed) account**, the bank most likely deducted TDS at that stage — even if the PAN was not linked then.
* The new account where the maturity amount was finally paid may not have been the source of TDS deduction.
### 2. **On whose name was TDS deducted?**
* Since the FD was opened in your name (under guardianship), the **TDS should ideally be on your PAN**.
* However, if PAN was not linked at the time of deduction, the bank might have deducted TDS as per default rules, i.e., at the **highest applicable rate (20%)** without PAN.
* If the PAN was never updated in their TDS records, this can cause the TDS amount **not to reflect in Form 26AS** under your PAN.
### 3. **Why TDS is not appearing in Form 26AS?**
* Form 26AS shows TDS credits only when TDS returns are filed by the deductor mentioning the correct PAN.
* Since the PAN was not linked earlier, the bank may not have reported the TDS against your PAN, so it doesn’t show in Form 26AS.
---
### What can you do?
1. **Request the bank to update PAN details retroactively** in their TDS records and revise TDS returns filed with the Income Tax Department.
* This should link the TDS deduction to your PAN and make it appear in Form 26AS.
* Banks usually can revise their TDS returns for a limited period.
2. If the bank **refuses or claims they can’t update PAN retrospectively**, then:
* You can still **file ITR with TDS claimed as refund**.
* Attach the **TDS certificates issued by the bank** as proof of deduction.
* The Income Tax Department can process the refund after verifying the claim, even if TDS is not in Form 26AS.
3. **Always ensure your PAN is linked to all accounts** to avoid such problems in the future.
---
### Important:
* Keep all correspondence with the bank in writing requesting TDS return corrections.
* If needed, escalate to the bank’s TDS or Income Tax Compliance team.
* File your ITR correctly, showing the interest income and TDS deducted as per certificate, and claim refund.
---
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