Subject: Excess Deduction of TDS
My Name: Nilesh N. Sanghvi
My City: mandvi Kutch
My Complaint Against: Punjab National Bank
Complaint Category: Banks Complaints
Claim Amount (Approx.): 25000
My Complaint Description:
SUB : DEDUCTION HIGHER RATE OF TDS ON FDR INTEREST.
With Subject as cited above You are know very well that you are giving interest on FDR after deducting higher rate of TDS since last more than 2 years.
As per TDS Rule, you have to deduct TDS @ 10% but you are deducting TDS more than 10% while you are depositing TDS @ 10% in Govn.
With very regret to say neither you had re-imbursed the difference of amount [collection of TDS from me – Paid TDS in Govn by you] nor heard anything from your end so far. I had submitted all relating documents to you as well as your previous Manager, Mr.Dholakiya. But your absolutely silence in the matter is very surprised matter.
Now please clear
1] Why you had deducted TDS more than @ 10% as per TDS Act ?
2] Why you had not deposited the higher rate of TDS deducted from me in Government Dept ?
3] Why you had not re-imbursed the diff of above TDS amount to me?
It is legally wrong you are collecting amount on A/c of TDS (Govn.) on higher rate from me while you are paying TDS in Govn. as per rule & the diff of amount you are keeping with your Bank it is very very un justice.
By this remind If you are fail to re-imburse the TDS diff amount alongwith detail reply on the above line within 5 days from the receipt of the said letter so I have to take another action against your Bank for collection of amount which kindly note.