quesTDS deducted from bank account. What action can be taken?

Dear Sir, TDS of Income Tax has been deducted from pension account for the months of Dec 16, Jan 17 and final amount has to be deducted in Feb 17. On 31.01.17 I have initiated maping of PAN to my account. The same is not confirmed till now. Please tell me whether the TDS amount deducted shall be credited to my PAN account or not. Otherwise, what further action shall I initiate.

  • ansDear querist,

    The TDS amount deducted will be should in all probability credited to your PAN Account. The PAN would be quoted by the bank while filing its e-TDS returns on quarterly basis even though the actual TDS amount is remitted on monthly basis. Therefore, you need not have any fear on this count. in any case, if the TDS deducted is still not reflected in your Annual TDS Statement (Form 26AS) by the end of May 2017, please bring it to the attention of the bank and request them to correctly quote the PAN / rectify the e-TDS returns if PAN is not quoted.

    Advocate Lava M

      19, Sns Plaza, 1st Floor,, Bangalore

  • ansYou may request your tax deductor to issue Form No. 16 incorporating your PAN in respect of TDS made for the entire year.After this is done and your deductor files the quarterly TDS returns, the amounts deducted from you should get reflected in your Form 26A, which you may check online before filing your return.

    Advocate B.S.N. Prasad

      Infantry Road, Bangalore

  • 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 Tax Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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