The bank has deducted tds on Term Deposits due to non-submission of form15-H in time. While Term Deposit account was opened the bank has taken form 60/61 from depositers. Now the tds has been deducted and deposited by TAn no. of Bank. Since e-tds returns to be submitted after 31/03/2008 require minimum 85% of PAN nos. of deductees. But the bank is not having 85% of PAN nos. due to above reason and could not file its e-tds return. If the e-tds return is not filled within time it will attract Rs.100 penlty per day. what are the remedies available to bank.
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