A Bank has deducted TDS on FD of an assessee @ 20% beacuse assessee had never provided PAN to the Bank.
Now, assessee, being unaware of this deduction of TDS, never filed ITR on time. Now, after one year (due date of ITR lapsed) , he came to know about the deduction of TDS by Bank.
Queries: -
1) Can he claim the refund by filing BELATED ITR?
2) Bank is not filing revised TDS return. Any remedy to this?
3) Though, Bank has agreed & has provided a paper based Form 16A under the seal of the Bank. However, AO is not allowing credit of TDs based on this.
pls share the opinion.
Some suggestions from my friends: -
1) File RTI with teh Bank forcing them to file revised return & then claim credit.
OR
2)
-Go to TIN website,-
-trace the ward of the Bank with its TAN No.,
- Go to the AO of Bank,
-request him about the case in writing,
-cause him to order Bank to file revised return,
-get a copy of the same as well (keep it with u),
-file a belated return...u will get a demand notice for balance tax payable,
-file a rectification by showing that order got from the AO of the Banker.
CAclubindia
