Tds deducted on bank fd where no pan and 15g form provided.
This query is : Resolved
08 May 2018
Bank deducted TDS from my FD on 31st March 2018. I had already submitted my pan details in the bank but now bank told me that your TDS is directly deducted from Income tax department so you did not get refund. I told them that give me TDS Certificate but bank said that you did not filled 15 g form so we couldn't provide you TDS Certificate. Then I checked my 26AS letter from income tax website. There is no record found for TDS deduction. So I write to my bank to revise my TDS and PAN details so that my 26AS letter shows my deductions but bank refused it. Bank told me that as your TDS deducted on 31st march 2018, and you did not told us to revise your details up to 7th April so we cannot revised it.
Is their any rule available that bank does not revised my TDS and PAN details?
What should I do to gain my deducted TDS.?
Is their any rule available that bank does not revised my TDS and PAN details?
What should I do to gain my deducted TDS.?
08 May 2018
1. There is no rule under which the IT department deducts TDS. It is the responsibilty of the payer of income i.e. the bank.
2. If you provide 15G , then no TDS is required to be deducted. Here, the Bank Officer is not correct .
3. Bank has to file TDS return and after that only you will be able to see the details in your Form 26AS.If TDS is deducted in the last quarter you have to wait till the bank files its TDS return.
4. Bank can revise its TDS return but first it has to file its original TDS return. The officer seems to be an ignorant person. Contact the Branch Manager and discuss with him and request him to provide you a copy of your FD A/c Statement. You may wait till May end and then recheck.
2. If you provide 15G , then no TDS is required to be deducted. Here, the Bank Officer is not correct .
3. Bank has to file TDS return and after that only you will be able to see the details in your Form 26AS.If TDS is deducted in the last quarter you have to wait till the bank files its TDS return.
4. Bank can revise its TDS return but first it has to file its original TDS return. The officer seems to be an ignorant person. Contact the Branch Manager and discuss with him and request him to provide you a copy of your FD A/c Statement. You may wait till May end and then recheck.
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08 May 2018
Do following to get back the refund -
Bank has deducted TDS and they will deposit to IT deptt. likely in MayJune 2018. They deducted and boked for depost in IT deptt , so they will not revert back and also they will not accept their mistake saying u that IT deptt. deducted tax.
Hence you just wait and see your 26AS in June end or upto 25th July , It will be reflected in 26AS , 100% sure and this you can clain as per 26AS through your IT return for AY 2019- 2020 which is to be filed online lateste by 31st July 2018
Hope this is ok for you.
regards
Bank has deducted TDS and they will deposit to IT deptt. likely in MayJune 2018. They deducted and boked for depost in IT deptt , so they will not revert back and also they will not accept their mistake saying u that IT deptt. deducted tax.
Hence you just wait and see your 26AS in June end or upto 25th July , It will be reflected in 26AS , 100% sure and this you can clain as per 26AS through your IT return for AY 2019- 2020 which is to be filed online lateste by 31st July 2018
Hope this is ok for you.
regards
09 May 2018
@CA Paras Bafana Sir, I contacted to the Branch Manager,
He told me that your 15G form is not in our record. In such a case we cannot revise your pan and TDS details. We agree that your PAN card details are available in your saving a/c details but your Saving A/c and your FD account are different. He give me DEPOSIT INTEREST CERTIFICATE. In this certificate only three details are given.
1. FD A/C no.
2. Type of Account.
3. Interest PAID/ACCR.
and lastly sum of total interest paid to me is given.
The amount of TDS deducted is not given in that certificate.
I demanded my FD Account's statement copy but he denied my demand.
Branch Manager repeat only one sentence that your 15G form is not in our record so we can't give you TDS certificate. We can't revise your PAN and TDS details in 26 AS form. There is no role of bank in deducting TDS from your A/C. Forget about your money.
The Branch Manager not listening to me. What I do?
He told me that your 15G form is not in our record. In such a case we cannot revise your pan and TDS details. We agree that your PAN card details are available in your saving a/c details but your Saving A/c and your FD account are different. He give me DEPOSIT INTEREST CERTIFICATE. In this certificate only three details are given.
1. FD A/C no.
2. Type of Account.
3. Interest PAID/ACCR.
and lastly sum of total interest paid to me is given.
The amount of TDS deducted is not given in that certificate.
I demanded my FD Account's statement copy but he denied my demand.
Branch Manager repeat only one sentence that your 15G form is not in our record so we can't give you TDS certificate. We can't revise your PAN and TDS details in 26 AS form. There is no role of bank in deducting TDS from your A/C. Forget about your money.
The Branch Manager not listening to me. What I do?
10 May 2018
ok, you login to website of IT efilling with your ID . See your direct 26AS from there and claim the TDS deducted directly in AY 18-19 IT return .If bank has deducted and deposited in IT challan then only it will be seen in 26AS.
15G if not fiiled then Bank will deducted TDS for any total interest in your name on this FD + other FD if it exceeds 10000/- .ok. TDS deduction as all knows vary from 10-20% depending upon whether bank got and liked your PAN with Account.
Further , the FD A/C is always separate from Saving bank account and bank exercise TDS deductions on the FD and all FD in your name are compulsorily liked to all FD in that Bank with your account. So FD no. /Account no. difference has no meaning and bank official are wrongly telling you for TDS on this point.
15G if not fiiled then Bank will deducted TDS for any total interest in your name on this FD + other FD if it exceeds 10000/- .ok. TDS deduction as all knows vary from 10-20% depending upon whether bank got and liked your PAN with Account.
Further , the FD A/C is always separate from Saving bank account and bank exercise TDS deductions on the FD and all FD in your name are compulsorily liked to all FD in that Bank with your account. So FD no. /Account no. difference has no meaning and bank official are wrongly telling you for TDS on this point.
10 May 2018
Further, Bank does not deduct any money from my our saving account on TDS. They deduct TDS from cumulative interest as on the FY AND U WILL GET LESS INTEREST ON MATURITY. Any TDS reported to you thrOUGH SMS or account shall be reflected in 26AS 100% otherwise deducting authority ( Bank) as told by U is cheating and does not want you to help. Only thing now, U wait for June 26AS at IT website , It should come. Otherwise report it to IT through Grievance option at ITwebsite for e-filling.
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