20% tds

TDS 335 views 2 replies

Dear Sir,

 Can we claim the TDS amount which has not been portray in 26AS but however bank has  deducted at  20% TDS and issued a  deducted statement.

 

Thanking you,

Replies (2)

MY VIEW ON THIS (Based on general information i have)

I think, The bank has not processed the TDS quarterly returns, and has not included your pan in that return. I wonder how was the bank able to generate a TDS statement, cos bank can generate TDS statement only by downloading from the govt. website (which i think it is nsdl website). For downloading, the quarterly return should have been filed properly. 

 

However, since in your case, the statement issued by bank has been issed under an authorised official, you still can claim the TDS, and you can argue from your end at the time of assessment, if any, that the certificate has been issued under the bank seal. ( But i heard, in the recent past that TDS certificate cannot be generated without quarterly filing of TDS returns online cos it will be invalid. I Dont have much update on this issue)

 

But, instead, i recommend you to contact bank officials, insist them to rectify/clarify why it has not reflected in the 26AS, cos, there wouldnt be much headache at the time of assessment.

One more update. As per circular no. 01/2012 dated 09.04.2012, procedure for manual issue of TDS certificate is made redundant.

 

Hence, you insist the bank to get their TDS return rectified, Download a revised certificate, and also, the same wil automatically be rectified in 26AS.


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