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Incorrect reporting of interest earned and subsequent TDS by bank


11-Jun-2023 (In Banking / Finance Law)
An international bank with which I have an account with since last 14 years misinformed the IT dept. that an interest of Rs. 10267/- was earned by me and subsequently Rs. 1028/- was deducted as tax on it for FY 2016-2017, without informing me. I got to know about it only when the IT dept. raised a concern. I asked the bank to provide the break up information of interest and the TDS. They kept on giving vague answers. I wrote to their India & International CEOs and the matter was sent to the executive escalation desk. Their senior manager called and told me that he will be sending the bifurcation. Finally when I did receive the break up, I saw it was all incorrect as I expected. I again wrote back informing them about their goof up. Finally the senior manager agreed that there was an error on their part and that they will send a rectified for 16A in two weeks time. And all this without even apologizing for their mistake. I would like to sue them for the inconvenience I had to go throug
Answers (3)

Answer #1
689 votes
Initially it is advisable to send a legal notice for defeciency of servcies, mental agony and harrasment and if the bank does not adheres to the legal notice, then file a complaint before jurisdictional consumber forum
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Answer #2
982 votes
If this is exactly the case you can definitely sue them on the mistake they have done and on non apologetic, if you are in india then you have to send them a legal notice through a good advocate from high court, then it follows.
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Answer #3
841 votes
Hi,
You have to complaint this issue to the
Ombudsmen at RBI. Ombudsmen email I'd available at RBI website. Please raise a complaint along with all the proofs. He will give the solution to your problem. Have a nice day.
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