A person having 5 bank accounts, where interest is being paid monthly after deducting tax (TDS). Because of clerical error in a particular the deduction has been done with an excess amount. Later on the customer has closed the account and the banker came to know his fault, does the banker have any option to rectify excess deduction...???
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TDS in Banking Sector
Replies (2)
Dear Murali,
From where do u get such type of queries.? I mean honestly u gyus do some research or what......:)
I think banker can
1) Adjust excess amount with the sums lying in other accounts of the same customer....or
2) May collect the cash from that customer equal to the amount of excess TDS & issues the certificate...
3) I doubt on this but Banker May revise his TDS return if filed & use the payment against the credit of another person....
hmmm.. nothin like tht buddy...
as you said they can adjust in other accounts and issue certificate at year end... chumma i raised this question for making others to kno nd turn their thoughts this side even.. if you have interest just see all my previous qusetions nd feeel difference in me, quite different and intetresting questions..!!
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