Dear Friends,
I had submitted and received acknowledgement for Form 15 G for a senior citizens FD Account from State Bank of India. However Tax was still deducted from the interest income.
Can the Manager of the branch be held responsible for negligience as when queried about the same, his reply was that even though Form 15 G was submitted, we deducted tax assuming that ur income will cross the taxable limit. The senior citizen earns a total interest of 72000/- p.a. fromthe FD.
What remedy do I have against the manager as well as the bank? Is there any way, other than filing return and claiming refund, to get the TDS amount reversed back to my account.
Kindly give your expert opinions.
Regards,
CA Sanjay S.
CAclubindia
