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
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."