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TDS Urgent?

AUDITOR VINOTHKUMAR (a) (875 Points)

02 May 2011

DEAR SIR\MADAM, AN ASSESSE BANK DEPOSIT RS, .500000/- BUT, TDS DEDUCTED 20% WITHOUT PAN CARD.

MY QUESTION : HOW TO PROCEDURE REFUND TDS AMT. PLS. EXPLAIN ???????

(HE NOW APPLY L PAN CARD )

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15 Replies

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after filing the return he can claim the refund

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AUDITOR VINOTHKUMAR (a) (875 Points)
Replied 02 May 2011

DEAR SIR, WHICH ONE ITR

Mayur Gondaliya (Advocate & Tax Consultant) (427 Points)
Replied 02 May 2011

If he has only Income Form Bank Interest then ITR - 2

AUDITOR VINOTHKUMAR (a) (875 Points)
Replied 02 May 2011

DEAR MAYUR, ANY DOCUMENT ATTACHED? PLS. EXPLAIN

Sk. Abdul Aziz (CA - Final) (811 Points)
Replied 02 May 2011

After the assessee receives the PAN card, do the following:
Request the bank to sumbit E-TDS correction statement and mention your PAN against the amount deducted. After ETDS correction you will get the credit in 26AS. This credit can be claimed for refund by filing ITR with your PAN.

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Mayur Gondaliya (Advocate & Tax Consultant) (427 Points)
Replied 02 May 2011

You may visit Incometax Site for details & from there you will find which form should be used for income forming part of diffrent sources.

AUDITOR VINOTHKUMAR (a) (875 Points)
Replied 02 May 2011

THANKS MR. SK.

Sk. Abdul Aziz (CA - Final) (811 Points)
Replied 02 May 2011

Originally posted by : vinoth TAX PRACTIONER
	DEAR MAYUR, ANY DOCUMENT ATTACHED? PLS. EXPLAIN

No document to be attached with ITR forms. However, all documents used for calculating income-tax and preparation of return, such as Form 16, bank statements and advance tax receipts etc are to be preserved. The Income Tax Officer may call for these later, to check the co-relation of details in the form.

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AUDITOR VINOTHKUMAR (a) (875 Points)
Replied 02 May 2011

THANK A LOT

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 02 May 2011

do it faster as bank(s) may deny to rectify their TDS return later, and unless the return is rectified by bank, no refund is admissible

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Sandeep Keswani (Tax Consultant) (1064 Points)
Replied 03 May 2011

The best alternative is to request the bank to file a Revised TDS Return (Correction Statement) quotting your correct PAN. However, if the bank does not co-operate, then obtain Form No. 16A from the bank mentioning your PAN. Then file the return claiming the said TDS. Most likely, credit for the same will not be allowed by the department. Then u can make an application for Refund by furnishing Form No. 16A showing your PAN and other details.

However the 1st alternative is best if it is possible......

Roopa (Accounts Officer) (38 Points)
Replied 03 May 2011

Could any one tell me whether Surcharge is applicable on TDS on Salary.. please brief me out...

Roopa

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 03 May 2011

Originally posted by : Sandeep Keswani
	The best alternative is to request the bank to file a Revised TDS Return (Correction Statement) quotting your correct PAN. However, if the bank does not co-operate, then obtain Form No. 16A from the bank mentioning your PAN. Then file the return claiming the said TDS. Most likely, credit for the same will not be allowed by the department. Then u can make an application for Refund by furnishing Form No. 16A showing your PAN and other details. However the 1st alternative is best if it is possible......

Bank may refuse to furnish form 16A, as they ahve already informed u well in advance to submit either PAN or form 15G/H which the assesee ignored and result is 20% TDS,

if the account holder submit their PAN before the submission of TDS return by bank , then they can consider the same, but after that bank might refuse the same as there are thousands of such cases and for every case they can not revise return,

i have faced similer situation where bank did not mentioned PAN at all in form 16A, and mentioned clearly "PAN NOT SUBMITTED"

untill the facts are clearly written on board, solutions are only probable, as i have got that the query did not mentioned the year even.

Sandeep Keswani (Tax Consultant) (1064 Points)
Replied 05 May 2011

Dear Mr. U S Sharma....

I understand and also agree with your point. Banks normally dont co-operate in this matter as it can lead to very tedious and redundant filing of statements and statutory compliances - what if another such case arise - the bank will receive a fresh request for filing Correction Statement, and this will go on and on.

But obtaining Form 16A with PAN quoted on it is not a big problem. One of my client had a similar problem and he subsequently obtained Form 16A from the bank. This will no way lead to any non-compliance or problem for the bank. And yes, as you said, all these are probable solutions - but then we have to try and catch the slightest probabilty if its going to be in our favour and solve our problem.