Deduction of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2015 If the bank has deducted TDS on intrest on FD @20% because of non availability of PAN, now subsequently the PAN has been provided, but the department refuses to refund the excess deduction till the bank files a correction statement, but the bank refuses to do so,my question is has the assesee any right as per law to enforce such correction statement, and if not then how could he get the refund.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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14 March 2015 nopes u dont have any right because the bank had did the right thing at that time... now u can file the ITR and claim the refund dear...

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2015 ooohh....ryt...thanx a lot sir..that means the whole 20% can be refunded by filing the return...

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CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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14 March 2015 if you are not liable to pay tax then ur tds wil b refunded dear

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2015 sir, the problem here is that the bank(the deductr) has already filed its return in which it has not mentioned the PAN of the deductee..now the deductee files his return so how he will get the refund, because his PAN has not been mentioned in the return of the deductor...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 March 2015 Unless Banker files the correction return, no option to get the refund.

Incase bank not responding,you can file the compliant under Banking Ombudsman scheme.