14 April 2015
Dear friends I have a big question related to TDS. My Boss opened a Fixed deposit a/c with a Nationalised bank in the F.Y.2012-13. That bank manager did not mention my Boss's PAN against the F.D. While deducting TDS for F.D interest, the bank's software deducted 20% instead of 10% by default , so we didn't get TDS certificate and TDS credit even though my boss has valid PAN. My question is HOW CAN WE CLAIM THAT TDS CREDIT NOW ?
15 April 2015
shiva sir, is that compulosry that bank revise the tds return... the assess can claim tds deposited with all relevant details in his ITR, and AO wil check that on his behalf....
17 April 2015
Dear sirs I asked the bankers but they said that we could not revise the tds. I dont know the bankers procedures in tds matters. What should I do now ? Can I get that credit now ?
17 April 2015
ok but then u wont get tds credit in this case if they do not revise it...u can meet the manager at the bank branch n try to pursue them .
19 April 2015
In a recent development pursuant to the judgement of the Delhi High Court in Court on Its Own Motion vs. UOI 352 ITR 273, the CBDT has issued Instruction No. 5/2013 F.No.275/03/2013-IT(B), dated 8.07.2013 stating that when an assessee approaches the AO with requisite details and particulars in the form of TDS certificate as evidence against any mismatched amount, the AO will grant credit of TDS to the assessee after ascertaining whether the deductor has made payment of the TDS to the Government.
It Directed all officers that - "when an assessee approaches the Assessing Officer with requisite details and particulars in the form of TDS certificate as an evidence against any mismatched amount, the said Assessing Officer will verify whether or not the deductor has made payment of the TDS in the Government Account and if the payment has been made, credit of the same should be given to the assessee. However, the Assessing Officer is at liberty to ascertain and verify the true and correct position about the TDS with the relevant AO (TDS). The AO may also, if deemed necessary, issue a notice to the deductor to compel him to file correction statement as per the procedure laid down."
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