Dear Sir,
I Indra Mani Rastogi (Party No.1) and my son Mohit Rastogi (Party No.2) are the joint owners of the building situated at Opp. Shabbir Gate, Near Gandhi Ground, Budaun (UP)-243601. We have let out the said property to State Bank of India (ADB) Budaun on a monthly rent of Rs. 81, 094.
Bank has deducted TDS for the first quarter commencing from 1st April, 2017 and ended on 30th June, 2017 out of the payment of rent paid to Party No. 1 but did not deposit the tax with the Income Tax Department. Bank did not issue any certificate of tax deduction in Form No. 16A to Party No.1. Further bank deducted tax for all the 3 months during the quarter commencing from 1st July, 2017 and ended on 30th September, 2017. But he did not deposit tax for 1 month with the Income Tax Department and has issued From No. 16A for the relevant quarter showing deduction for 2 months only. Thus, The tax for 4 months has been deducted by the bank but retained by him for reasons known to him. That is why the Party No.1 is unable to get claim of TDS for these 4 months.
That the bank deducted tax out of rent paid to Party No. 2 during the period commencing from 1st April, 2017 and ended on 30th September, 2017 (1 & 2 quarter) but did not deposit the tax for full 6 months with the Income Tax Department. Bank did not issue any certificate of tax deduction in Form No. 16A to Party No. 2. With the result, the Party No. 2 is unable to get credit of TDS made by bank. That during the quarter commencing form 1st October, 2017 and ended on 31st December, 2017, the bank deposited the tax for 1 month under section 194J of the Income Tax Act, 1961 instead of section 194IB. This being technical error must also be rectified in the Form No. 16A for the relevant quarter.
I & my son sent a letter to the bank in this respect on[protected] but no action whatsoever was taken by the bank. We have also given a legal notice to the bank through our advocate on[protected] but no action has been taken by the bank till today. Due to the negligence and carelessness of the bank, we will suffer monetary loss. You are, therefore requested to rectify our complaint as earliest as possible.
Thanking you.
Your’s faithfully
Indra Mani Rastogi
(PAN : AEUPR5195P)
Mohit Rastogi
(PAN : ABWPR7659B)
352, Jogipura,
Near Gandhi Ground,
Budaun (UP) - 243601
State Bank of India [SBI] customer support has been notified about the posted complaint.
Ac. No. [protected]
IFSC : SBIN0071085
BANK: SBI, Vengaloor