Dear Experts,
I did not have PAN. The bank has deducted 20% TDS on interest on Deposit during every quarter of the FY 2014-15. The bank has not issued me Form 16A even in a single quarter. Now I have got PAN. How do I claim refund of the TDS deducted by the Bank during the FY 14-15. The Bank officicals say that they cannont issue any certificate from TRACES.
Please suggest how do I claim refund.
You can submit PAN with them and ask them to upload return again.
It has happened bcoz u had not provided the bank a PAN Card copy. Now you can provide them PAN Card copy and convince the bank manager to revise their TDS Return and then claim the TDS refund by filing the IT Return
If your Income is below taxable limit and dont have PAN. There is a Form 60/61 you should fill and give it to bank that you dont have PAN no. [even then 20% is cut I think]
Take a certificate from bank that they have deducted TDs @ 20% rate against this new PAN which was not existing at the time of deducting. Bank should have informed you that they are deducting TDS.
Then you may have to go to your AO and show it. You have to file ITR-1 return and claim it.
Next year dont forget to give form 15G. Every mistake is a lesson Harish.
now you will not same mistake again in Life.
If bank refuses to rectify TDS return then only goto AO.
Ohterwise File ITR1 and claim the TDS.
While browsing through TRACES I have found that my BANK has deducted TDS for the AY 16-17 on Deposits. I have no other income and my total income is below tax slab. How do i apply for tax refund?
Thank You
CAclubindia
