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Did not furnish PAN for FD? You can’t claim TDS credit now
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By Chirag Nangia
My mother is a senior citizen and has not submitted PAN to the bank and income tax has been deducted on her FD for the last three years. How do we get Form 26 AS or Form 16 for the income tax deductions on FDs?—Sudhakar
The bank is liable to deduct tax at source on interest earned on fixed deposits. Thereafter, the bank is obligated to file a TDS return, wherein it is required to report the tax deducted against the PAN of the deductee. This information received by the tax department, is reflected in Form 26AS of the deductee, enabling him to claim credit of such tax from his final tax liability, at the time of filing of return of income. Since you had not furnished PAN to the bank for the last 3 years, the TDS returns filed
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