Not getting any Form 16A for my Fixed Deposits with CANARA BANK

POSTED BY Bala ON October 26, 2014 2:42 pm COMMENTS (4)

Hi,

I am IT Professional, I have got know about the book” HOW TO BE YOUR OWN FINANCIAL PLANNER IN 10 STEPS” from Jagoinvestor

I have question and seeking for help,

Since FY 2005-06 to FY2012-13, I have invested in FDs (Fixed Deposit) for different tenure like some on things are 1 year term, some of 2 yrs term. Same way, some of the FDs I have collected Interest on monthly basis and some of the FDs I have collected Interest on the time of maturity.

My problem is I have never got TDS Document ie Form 16 A from Canara bank for any of the Financial Years. HERE MY QUESTION IS, WHETHER THE BANK HAS TO SEND FROM16A THRU POST / GIVE AS IN PERSION OR NOT? IRRESPECTIVE OF CUSTOMER IS ASKING OR NOT? THERE IS ANY RBI (RESERVE BANK of INDIA) NORMS OR GUIDE LINES?

NOTE: Even I have not get any TDS Statements.

Why I am asking this questions is, recently I got some of TDS statement (after long fight from Canara Bank, even its incomplete), from that I have understand that they detected TDS. But its not reflected in IT DEPT (INCOME TAX)TRACE Form 26 AS. So I not able to do procedure to get refund from IT DEPT.

4 replies on this article “Not getting any Form 16A for my Fixed Deposits with CANARA BANK”

  1. Hemanth says:
    October 27, 2014 at 7:11 pm

    Have u updated your PAN with Bank?

    If yes, check with Canara bank why TDS is done and why it is not reflecting in your 26AS. Tell them that you will complain to banking ombudsman the same….. then they will surely help you…. if they don’t help u then also, report to banking ombudsman

    Reply
    1. Bala says:
      October 27, 2014 at 9:55 pm

      Thanks a lot Hemanth.

      I have give PAN Card, and requested personal to update the same.
      But I do not have idea when they have updated. I will check personally once again.

      I have some more quires, please help me.

      Some time back I got TDS statement (NOT Form 16a. ) from canara bank for the financial year 2011-12, From that I came to know around Rs 24481.00, are detected as TDS, but It’s not reflected in From 26 AS ( I am sure I have given PAN Card details to the Bank) so that I am not able to claim. So my understanding is the loss I got is because of Canara Bank. If this the case who is liable to pay my loosed Amount?

      There is any provision to get the money from the Bank?

      Note : Not only that Financial Year even for the following Financial years,
      1. FY : 2005-06
      2. FY : 2006-07
      3. FY : 2007-08
      4. FY : 2008-09
      5. FY : 2009-10
      6. FY : 2010-11

      Please help me on these quires.

      Thanks in Advance
      Balasubramanaian N

      Reply
      1. Hemanth says:
        October 28, 2014 at 12:44 pm

        Speak to Canara Bank people and ask them the reason for the same…. escalate to higher authorities of the bank or even banking ombudsman

        Reply
        1. Bala says:
          October 29, 2014 at 1:19 pm

          Thanks a lot,

          In case, if they are detected TDS but not sent to IT Dept. Because they are not given Form 16 A ( for the FY 2011-12) instead they are given only TDS Statement. In that statement there is no information about challan number and amount credit to IT Dept. So I have doubt about them.

          If this is the case, there is any possibilities to get my money back? because TDS is not went to IT Dept and for the same reason I am not able to claim from IT dept.

          Please guide me.

          Thanks in advance,
          Bala

          Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.