TDS under 15G

This query is : Resolved

Income tax (Querist)
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04 November 2017 My banker has reported excess amount credited than actual amount received as interest amount over Fixed deposit in TDS filing. The amount reported in TDS filing by banker is exceeding the taxable amount of 2.5 lakh (TDS not deducted) whereas the actual amount is credited within the taxable limit. I am now receiving SMS from IT department to file IT return. I have also requested my banker to revise the TDS returns for the period ending Mar-2017 but not yet done so by the bank. What action can I take further?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 November 2017 Give letter in writing to the Banker and keep a copy with you. No need to worry and no need to file ITR.

Income tax

Income tax (Querist)
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05 November 2017 Banker is not accepting the written letter. What to do?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 November 2017 Send it by registered post.

Income tax

Income tax (Querist)
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05 November 2017 Thank you for your suggestion. Is it possible for you to send me if you have any standard format of letter.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 November 2017 No standard format send simple letter.

Manian

Manian (Expert)
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07 November 2017 The amount of Interest shown by the Banker may include the amount of Interest accrued to you as 31st March, 2017. Hence it may exceed the amount received by you. If it is the case then you have to file the return or give reasons for not filing.