Please help me sir

TDS 1674 views 11 replies

   Please help me, I am Ravi from mumbai. I have two accounts in vijaya bank one from mumbai and another is in my native branch (mangalore). I deposit my salary cheque in my mumbai branch last month (Feb).but the  bank credit twice a time to my SB account . After some time i transfer money to another branch in mangalore i am not aware of the same, after some time bank inform me that double  credit of my account and same amount re-imbured me to them from my another account. Just last week i got the call from mumbai head office regarding the credit entry in your account. they tell me that we are going to deduct TDS on the amount credited to you accout. I convence them but they are insist me to come mumbai But now i am in my native due to my personel problem. It is very lendhy process to recover the TDS amount from IT Ofice couse my Gross income not exceding exumption ltd. Pls hep me in this regards, if they deduct TDS amount can i book the RTI against them Or tell me any other means

Thanks In Advance

Replies (11)

your case is not clear, 

how a bank can deduct TDS on credit done by bank mistake?

have you paid out the amount to them credited by mistake? if not then do it 

Bank can not deduct TDS on amount deposited.  They can deduct TDS only on Interest Credited to your Account.

Can you find and tell us on which amount bank wants to deduct tax?

U querry is not clear. Plz redraft d same.....!

trying to understand your query.

1.Salary check deposited in mumbai account

2. Double credit in mumbai account

3. total amount transfered to mangalore account.

4. you remit excess credit to the bank

5. you get a call fro TDS.

 

where is the income ?      why TDS ?    

since you have returned the excess money and the money you are now left with is only your salary, which is not under taxable slabs.

there is no tax on you.

You can draft a Clear letter to the bank mentioning all the events and also do mention about the phone call. and let them know that there should not be any tax deduction as there is no income.

do not send e mail.    take a paper letter and get a received copy in another copy for your records.

 

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Originally posted by : Nakul Raibahadur

trying to understand your query.

1.Salary check deposited in mumbai account

2. Double credit in mumbai account

3. total amount transfered to mangalore account.

4. you remit excess credit to the bank

5. you get a call fro TDS.

 

where is the income ?      why TDS ?    

since you have returned the excess money and the money you are now left with is only your salary, which is not under taxable slabs.

there is no tax on you.

You can draft a Clear letter to the bank mentioning all the events and also do mention about the phone call. and let them know that there should not be any tax deduction as there is no income.

do not send e mail.    take a paper letter and get a received copy in another copy for your records.

 

 I agree with nakul sir...do the same process

hello friend which bank debuct the tds pls tell me

bank can never deduct the TDS on the amount which has been wrongly credited in the account and further refunded by the account holder.....

now interest is calculated on daily basis in SB a/c. that's why you will get some extra amount of interest for the period in which the money has remain in the account.

but there is no question about the TDS on the interest in SB A/c....

 

hence, bank can't deduct TDS on interest on that amount.......

You are mixing 2 different concepts. Moreover bank can deduct TDS only on Interest credited to you account if it exceeds Rs. 10000/-  per person per branch.

 

Moreover they also deduct TDS on Pension credited to the account exceeding the Exemption Limit. Whereas the deduction of TDS from Salary is on Employer and not Banker. So if by mistake double credit has been made by bank even then they are not in a position to deduct TDS except if interest is credited in excess of Rs. 10000/- but the TDS is not applicable for Salary even if the interest exceeds.

 

In addition to that, Banker are also allowed to deduct TDS if permitted by Employer else they can't. So what's your case depends upon the circumstances as i have already explained above. In any other case you can demand the Banker that how can they deduct TDS and their reasons.

How can Bank deduct TDS dude..!!!plz clr ur query..!!

There appears to be misunderstanding. Understand what exactly Bank is saying and which specific amount on which bank wants to deduct TDS. Definitely Bank cannot deduct TDS on the amount deposited by you in your account.


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