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Bank deducted TDS at a higher rate and PAN is obtained later

Others 962 views 3 replies

What steps should be taken if bank deducted TDS at a higher rate and a PAN was obtained afterward?

Replies (3)

Provide the bank with the new PAN details, and ask them to amend their TDS return. 

The bank can file a revised TDS return to reflect the correct PAN or Aadhaar, ensuring TDS credits are available in the taxpayer’s account.

Is it a savings account or against any investments? if it is a Saving Account, how can any bank open such an account without pan ?? Even Account holders also have a responsibility to provide Pan as well as Aadhar Card.If Account holder provides his pan after cut off date then Bank is correct . If pan late generated ,i,e, after investments or after the adjustments entry of Bank then Bank ( Deductee ) can not amend their return.

Whatever bank has done its correct


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