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TDS deducted from bank account. What action can be taken?
07-Feb-2023 (In Tax Law)
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.
You 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.
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Dear 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.
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.
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Adv. Lava M
Bangalore | 25+ Answers
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