It has been observed that , as IT department has made it mandatory for all co-operative banks , to deduct TDS at source (quarter wise) on the interest generated on FD, RD accounts of the persons, as this being 1 st year to implement so.. many banks and its depositors , have caused errors in the same , like despite of being having PAN No..... not furishing of the same with the bank ,non uploading / wrongly uploading of PAN details by the bank etc.. so it has been seen , honest TAX payers are suffering, of deduction of 20% as TDS at source , (though, it ought to have 10%) is there is any way for this agony,for banks through CA of the bank , or that DEPOSITOR to get TDS adjusted to the CORRECT one in 26 AS at TRACES , ( as most likely if that FD is long duration) he is likely to loose INTEREST ON INTEREST of that OVER SIZED TDS DEDUCTION ( at source)
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