Income Tax Refund Sbi
Question: Income Tax Refund if pan not reported?
My bank (SBI) deducted tax for the interest income from my account. I gave my PAN number to bank. But the IT department says my PAN number was not reported to them by the bank and so they don’t have any record of amount deducted.
In this case how can I get my refund.
It seems to be a joint rip-off operation by the IT department and the banks.
Even though we have clear records(bank statement) that tax amount has been deducted from us, IT dept is not giving any option for complaining and getting the refund.
The present options like visiting the IT office many times is not possible if we are NRIs and even if we are in India our IT office will be in another city.
In my experience the banks which has not properly updated my PAN Nos are ICICI and SBI.
Federal Bank has updated the records properly and gave me the Form 16AAnswer: PAN updation is liability of bank official and they can not ignore it. Nowdays they are going stricker in this regard and probably after some time only some cases of this type will be reported. In future whenever you submit your PAN to bank please send it throug writtign a letter with due acknowledgment with you.
However for time being for the reported year obtain “Form 16A” from concerned bank in case of all TDS deduction and use the same in filling your income tax return. You can claim refund from income tax department only by filling your income tax return if your TDS are greater than your tax liability.
Salaried taxpayers may be spared filing returns
Salaried taxpayers with no other income could get a respite from filing tax returns. The income-tax (I-T) department is open to examining a proposal to exempt them from the annual chore.
