Bank has cut TDS on our FD interest as it was crossing Rs. 10000/-. Bank is not furnishing TDS certificate (Form 16) which I require to claim some TDS amount as refund (as we did not continue those FD in last FY).
1) Is bank legally bound to provide Form16A (TDS certificate)?
2) Can I collect the same from Branch where my account is? I should get all services/documents in my home branch as per law, right?
Thanks,
Purva
Sir
Please check your form 26AS for the respective year
1.Yes legally bank has to give FORM 16A
2.You will get certificates from the branch where you did your FD's
If the TDS amount is not reflected in your Form 26AS then give a written compaint to the bank manager of the branch and have a copy of acknowledgement with you for future reference and ask them to reply for the same as soon as possible
Failure to issue TDS certificate within the time allowed, attracts penalty of Rs. 100/- per day of default (Sec 272A(2)(g)). However, penalty will not exceed the amount of tax deductible or collectible, as the case may be.
But i think first check your 26AS it will be reflected over there. If it is not shown there write to bank.
Check 26AS and write a letter to your bank to issue TDS certificate 16A immediately.
Yes, first check form 26AS if credit is not reflected as the bank to rectify the same at the earliest or just warn them that you will write to the income tax department about the same.
Thanks for replies. I checked the amount is correct in form 26AS. However my concern is bank deducted extra TDS (may be wrong calculations done by them). To claim refund from IT dept, I wanted to have Form16A from bank which is not provided by bank.
In that case I am thinking to go to branch and ask for the form 16AS. Will they provide? I am asking bcz I opened FDs online and closed them online.Never visited branch.
Thanks
CAclubindia
