Bank deducts tds on fd interest but form26as doesn't show it

Hello friend,

Bank manager is giving you wrong information, u can revised, original return any number of time.

Saurabh its not problem of only uthrakhand, infect all the india most of the govt bank manager having same attitude, regarding miss match of tds. 

THANKS 

SHIKHAR

Thanks Prashant and Shikhar.

In dealing with the manager I find that he's trying to evade and wriggle out of the issue and is not wiling to file the return.

The next time I visit I will give another letter in writing and ask him to revise their returns. When I opened the savings a/c 5 years ago I'm 99% sure I gave the PAN number. Since the FD was linked to the savings a/c (it was an electronic FD) the PAN should have been picked up. I think it's the fault of the bank.

Until last month they claimed they didn't have my PAN (and KYC details) but I received no letters from them asking for this information.

-Saurabh

Dear Saurabh,

I think in any case if any one deducts TDS ,hey have to furnish the form 16A even if its 20%.

Hence ask for the Form 16A and after getting it you can claim the TDS..even if its not reflected in 26AS.

And in case of inappropriately deducting TDS at a higher rate..although I dont think there is any remedy for this in the Income Tax Act u can proceed against the bank as per the Consumer Protection act..but ensure that you have all the evidences available..

Thanks & Regards 

Thanks Rupesh.

I spoke to a couple of CA acquaintances of mine and they said the same thing. The bank must issue me a TDS certificate.

Given that Form 16A's are generated using the TRACES protal these days and that they didn't have my PAN at the time of depositing the tax, can they still provide a form 16A?

If not, would a TDS certificate from them be enough?

-Saurabh

TDS made should be reflected in 26AS in order to get credit of the same. TDS certificate issued without filing return is of no use as the tax credit will be denied and demand will be raised in summary assessment 143(1)

I've put in an application for a TDS certificate and should have that soon. What I've been advised by some CAs is to claim the amount while filing the return and once the demand is raised, write to the assessing officer and show the certificate that has been issued by the bank.

Frankly, it's not the most appealing option but it seems to be the only option I have. I can re-request the manager but if the bank refuses to revise their return, what can I do?

If I can prove that my application form contained my PAN perhaps I have a more solid case and then I could approach the banking ombudsman - that's a long drawn process though.

Does anybody here have experience with such a case?

-Saurabh