A sr. executive of bank paying i tax for last 3 decades having pan no.& filing returns -form-16.bank
GOYAL PRADEEP
(Querist) 24 May 2012
This query is : Resolved
SIR,
AN OFFICER EMPLOYEE OF BANK HAS AN FDR OF RS.3 LAC WITH BANK @ 10% STAFF RATE.IE INTEREST OF RS.30000/-PA.THE BANK HAS DEDUCTED TDS @ 20% INSTEAD OF !0%.PRESUMING WITHOUT A PAN NO.THE FACT IS THAT I AM WORKING WITH SAME BANK FOR LAST 40 YRS & FILING RETURN OF I.TAX FOR LAST 30 YRS ALONG WITH FORM 16 ISSUED BY BANK ALONG WITH PAN.NO.NOW BANK IS NOT REFUNDING THE EXCESS AMT.DEDUCTED.ASKING TO CLAIM THRU THE RETURN TO BE FILED.
HOW FAR THE BANK IS JUSTIFIED.? ARE THEY NOT SUPPOSED TO USE COMMON SENCE.& DEDUCT THE TDS AS PER NORMS.?
PL CLARIFY.
THANKS & REGARDS.
PRADEEP GOYAL.
A V Vishal
(Expert) 24 May 2012
Mr Goyal,
You claim to be an employee of the same bank in such case you must know the procedure well, further while creating the FDR probably the field where the PAN is quoted must have been left blank hence TDS must have been deducted @ 20%.
Suhail A.Siddiqui
(Expert) 25 May 2012
Goyal Ji are u able to understand how much pain a man got when he hear such reply. here is no other way to file IT return and claim excess amount of TDS on income. No doubt it is bank fault but money got transfer in your PAN account and only you can get back it from Income Tax Department through filling of income tax return
R.K Nanda
(Expert) 28 May 2012
Agree with expert Vishal.
C. P. CHUGH
(Expert) 28 May 2012
Dear Mr Goyal.
God Knows what could be the fate of other depositors if the state of affairs in the bank you are working is such for their own employees. Now since tax at higher rate of 20% has been deducted and deposited, the worst part of the problem is you may still not get a refund of a penny because your PAN is not quoted. Ask the Bank to update your PAN by filling correction statement so that credit gets transfered to your PAN account and you are able to claim the same.
Just realise how troublesome it could be for a genuine depositors.
GOYAL PRADEEP
(Querist) 29 May 2012
DEAR.MR.CHUGH.
THANKS FOR THE RESPONSE.
I HAD ALREADY MADE A REQUEST TO DO THE NEEDFUL AS SUGGESTED BY YOU WELL WITHIN THE TIME.BUT THE CM OF THE BRANCH IS ADAMENT.ANY WAY;YOU ARE RIGHT THAT WHAT WILL BE THE CONDITION OF THE CUSTOMER;OF THE BANK;WHERE STAFF IS TREATED IN THIS WAY.
REGARDS.
PRADEEP GOYAL.
Shonee Kapoor
(Expert) 31 May 2012
I also faced the similar problem, I wrote to Zonal Office and sent them a legal notice, they updated my PAN.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
