Tds deducted @20%

In a writ petition filed by small investors, Karnataka High Court Held that provisions of Section 206AA of the Income Tax Act are contrary to provisions of Section 139A of the Act. Accordingly, provision of Section 206AA were made inapplicable to persons and was read down from the Act only for those persons whose income was less than the taxable limits. However, the High Court made it very clear that the provisions of the Section 206AA are applicable to the persons whose income is more than the taxable limits.

Accordingly, the High Court Guided the Banks and the Financial Institutions that they shall not invariably insist upon PAN from small investors who intend to open an account in the bank or financial institution.

Source: Karnataka High Court Ruling in case of Smt. A Kowsalya Bai vs. Union of India [Writ Petition No. 12780 - 12782 / 2010 (t) ]

In view of the above decision, you can request the bank to refund the tax, and if the same has been deposited by bank,  you can request the bank to revise their filing information so that the tax deducted can be reflected in Form 26AS

I am thankful to all experts , but still my query is not clear , that what should i do ? I went to the bank branch and submitted my pan number there , and bank provide me form 16 A with my pan number , and challan numbers , when I ask them to revise the tds return then they refuse to do it , they said that it is not possible to revise all the returns of the year , so please tell me that what should i do now ?
file return online or mannual ?
whether still i can get refund ?

thanks

File an manual Return. quoting ur TDS details, Since processing of online return is centralized its difficult to follow up. So Manual is better option since u can check with ITO in person incase of discrepency.

u can get refund after filing of ur itr,PAN is must to file itr

so get pan immediately

after that submit form 15G with bank,thaey will not deduct tds there from

Dear Prakash 

In Recent Karnataka High Court Decision in case of A Kowsalya Bai   - court held that section 206AA will not be applicable for persons having income below taxable limit. 

Please share the same with banking authorities............TAX @ 20% in your case is Constitutionally not legal as per this decision. 

Ask them to revise their tax returns............ 

Alternatively register your self with Income Tax e filing site....file your IT return online.....you will get refund with a period of 6 months....

Hello friends as per your suggestions, I requested to bank branch to revise their return... After a discussion the manager agreed to revise it, I am thankful to all off you, and please now tell me whether I should file return now or after revising banks return? And which return is suitable for me whether ITR 1 or ITR 2 , I have agriculture income , interest from bank on FD a & saving a/c , and one let-out house property ,

Thanks

File ITR 2 after revising bank tds return for such period.