What steps should be taken if bank deducted TDS at a higher rate and a PAN was obtained afterward?
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Bank deducted TDS at a higher rate and PAN is obtained later
Replies (3)
Quick Summary
Provide the bank with the new PAN details, and ask them to amend their TDS return.
The bank can file a revised TDS return to reflect the correct PAN or Aadhaar, ensuring TDS credits are available in the taxpayer’s account.
Is it a savings account or against any investments? if it is a Saving Account, how can any bank open such an account without pan ?? Even Account holders also have a responsibility to provide Pan as well as Aadhar Card.If Account holder provides his pan after cut off date then Bank is correct . If pan late generated ,i,e, after investments or after the adjustments entry of Bank then Bank ( Deductee ) can not amend their return.
Whatever bank has done its correct
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