IF first holder die and interest suffer TDS deduction

POSTED BY sadashiv kashyap ON July 13, 2013 5:05 pm COMMENTS (3)

Dear Reader / member

MY father have 4 5 five fd in SBBJ Bank (PSU).I had given 15H form to bank employee but i have no acknowledgement of 15H . bank doesn’t give special acknowledgment to customer . if he want then he can xerox and acknowledge it.now the problem is my father have departed soul.

Bank official are not helping me in this regard bz i have no proof of that 15H but I m 200% Sure.Whom did I give?

Tell me bank is not responsible in this matter ?bz they are saying you have to go your C.A. or income tax expert.we can’t help.
I am the second holder of the said F.D.

I had already complaint thier readdress department but i have not received prompt reply.

I know ombudsmen have limited right.

now what to do?
Do I use RTI or go to consumer forum.

Please help me out in this issue.

3 replies on this article “IF first holder die and interest suffer TDS deduction”

  1. sadashiv kashyap says:

    Thanx A ton for your input Mr. Manish & Ashal.

    Now I am using RTI bank afraid of it.

    RBI Has clearly mentioned in circular.
    Dear Sir/Madam,
    Acknowledgement by banks at the time of submission of Form 15-G / 15-H
    As you are aware banks are not required to deduct TDS from depositors who submit declaration in Form 15-G/15-H under Income Tax Rules, 1962. However, it has been brought to our notice that despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times, causing inconvenience to customers resulting in a number of complaints. Such instances arise because either the forms are misplaced or a track is not kept of forms received in the branches.
    2. The matter has been examined by us in consultation with Indian Banks’ Association (IBA). With a view to protect interest of the depositors and for rendering better customer service, banks are advised to give an acknowledgment at the time of receipt of Form 15-G/15-H. This will help in building a system of accountability and customers will not be put to inconvenience due to any omission on part of the banks.
    Yours faithfully,
    (Rajesh Verma)
    Chief General Manager

    Source RBI website.

    But unfortunately bank aren’t following this rule.
    Now I have to file my pre & post tds return in month of april 2014 as a representative asses see.( As per C.A. Suggestion)

    Either I can premature my fd and prevent quarterly TDS deduction but it would cost more.

    All this solution are cumming from my research & source. Bank haven’t helped me.

  2. Dear Sadashiv, there are multiple ways to do it.

    Option 1 – As father is no more & the FD was a joint one, you can ask your bank to file a revised TDS, showing the Tax credit against your PAN. Revision in TDs return is possible.

    Option – 2, contact a CA & file your father’s ITR as a Representative Assessee (RA) & claim back that tax refund.

    Option – 3 as told by dear Manish is of no use for you as the Tax has ben deducted already & deposited to Govt. of India, so running for Form 15H is not going of any help for you. So you can claim back only by filing an ITR be it for your father or for yourself.



  3. Ok , as its PSU , first tell that guy who is not cooperating that you are filing a RTI on this . And check through it that Form 15H was there or not and will put his name that he told you that its not .


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