Sir,
My father is retired SBI employee. He has few deposits with State bank of india.He has not submitteed the PAN Details to the Bank.
Bank officials not enquired his details and on 31 st march they have deducted 20% IT as pan Details were not submitted.
what is the procedure to adopt. whether he can ask the bank to file the revised return or File the IT return and
pursue the matter with IT dept.
What are the other options.
Regards,
Retired SBI employee faces 20% tax deduction on deposits; explores options for refund via revised bank return or ROI. A retired State Bank of India employee did not submit his PAN details to the bank, resulting in a 20% income tax deduction on his deposits. The individual seeks advice on whether to request the bank to file a revised return or to file an income tax return to claim a refund. One response suggests attempting to have the bank revise the return, though this may be challenging. Another response advises filing a Return of Income (ROI) or a refund claim, as banks typically do not handle refunds directly. (AI Summary)