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Incorrect PAN no. quoted in TDS Certificate by Bank

Seth (M) (148 Points)

20 May 2010

Hi, My bank has quoted incorrect PAN no. in the TDS certificate they sent to me.

Although it is bank's mistake, but is there any thing that I need to do to get it corrected? Do I need to follow-up with IT dept or is it to be done by the bank?

Please let me know as I need to apply for this TDS refund.

Thanks,

Seth

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13 Replies

Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

HI Mr. Seth,

In this regard you just have to ask the bank to issue a correct certificate. You dont have to follow up with the IT department.

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(Guest)

Contact your bank.. check if your PAN is correctly updated in their records first... Then based on that you can act... because if as per their records the PAN is correct then you can easily get a duplicate TDS certificate with the correct PAN... If PAN is wrong in the records itself then it will be difficult... Only thing is once you receive a Duplicate Certificate file a copy of it along with your Return.. Because TDS is granted on the basis of the return filed by the deductor and there could be a high possibility that the return has been filed wrongly by the Bank.. Do you use the online facility to track the TDS done for your PAN?

Seth (M) (148 Points)
Replied 20 May 2010

Thanks Shravan and Shudhanshu for your inputs.

The bank has already deducted the TDS, issued me the FORM No. 16A, that implies that they have deposited the TDS money to the IT department with my incorrect PAN no.

That's why I wanted to know if it will be a simple case of getting duplicate TDS certificate from the Bank

Should I ask the bank to take any other necessary steps because they have already submitted the TDS money with wrong PAN no.

Thanks,

Seth

Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

You are right Seth but it may be possible that bank has not deposited the TDS return till now. As you know that for the Qtr. 4 last date of deposite of TDS return is June 15. In such a case you may ask bank to correct its data and issue Form 16A with correct PAN quoted.

daya shankar singh (CA ,CS) (629 Points)
Replied 20 May 2010

U will intimate the deductor bank about the incorrect pan qouted on TDS certificate and request for fresh issue of TDS certificate with the correct pan no.

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PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)
Replied 20 May 2010

Even if bank correct the TDS Certificate make sure they revise their return with your corrected pan no. (although this will not happen this is india, they might not change their return or you can say that they will not revise return) yes.. they will issue u a fresh certificate with your corrected pan.

You can do 1 thing you can go to your income tax ward with corrected tds certificate and ask for refund etc.

i have also suffered by this negligence of banks, and got my refund by this way.....

:-)

Utkarsh (student) (26 Points)
Replied 20 May 2010

Provision for Directors Remuneration provided on 31st march2010, and paid in the A.Y. 11-12. In Which A.Y. year i am liable to pay the TDS. Whethr in A.Y.10-11 or A.Y.11-12???

Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

Directors remuneration is treated as professional fees if it is not paid on monthly basis. This will be considered under section 194J. TDS will be deducted on March31, 2010 as in the section 194J it is mentioned that TDS should be deducted due or paid whichever is earlier and should be paid till May31, 2010 without interest.

Jasmeet Singh (Audit Senior) (911 Points)
Replied 20 May 2010

@ Seth

In this case u should file your Return Manually and with that you have to give application regarding your correct PAN.

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 20 May 2010

agreed with all........ ask bank to issue TDS Certificate with Correct PAN and Revise your TDS Return....... and show it to Income tax Department while claiming Refund.....

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Bibhuti Bhusan Das (Financial Analyst) (144 Points)
Replied 26 May 2010

If the return has been filed by Bank on the incorrect PAN then its just impossible to get refund from IT dept. Sorry Mr. Seth to say you such a specimistic sentence but its the fact.

Kumar (Article) (922 Points)
Replied 27 May 2010

You should ask the bank to issue a fresh TDS certificate with correct PAN and ask them to furnish a revised TDS return with correct details of urs.

U can file the return manually with TDS certificate attached or can e-file (preferable) coz in e filing they revert back a mail with the amount of TDS claimed by u and the TDS to ur credit in their record, where in case of difference you can clarify your stand.