Orissa

Jagatsinghapur

CC/54/2020

Nimain Chand Mishra - Complainant(s)

Versus

B.M , State Bank of India Jagatsinghpur - Opp.Party(s)

Mr.D.N.Acharya

21 Oct 2022

ORDER

                                                                                    JUDGMENT

 

            Complainant has filed this consumer complaint U/s.12 of C.P. Act, 1986 seeking following reliefs;

            “Direct the opposite parties to credit Rs.7,230/- in the account of the complainant which is the shortage amount of the matured value and compensate Rs.20,000/- towards mental agony and Rs.6,000/- towards the litigation expenses”.

            Brief fact of the case is that complainant deposited Rs.1,25,000/- on 23.01.2015 with opposite parties for a period of five years which was due to be matured on 23.01.2020. The complainant encashed the certificate on 23.01.2020 and amount of Rs.1,80,783/- was credited to the account of the complainant.

            The grievance of the complainant is that maturity value of the certificate was Rs.1,88,033/- but Rs.1,80,783/- has been paid as such he has sustained loss of Rs.7,783/-.

            The opposite parties have appeared and filed their written version in which it has been stated in para 10(B) “as per the bank norms TDS shall be deducted every year from the interest of the deposited amount in respect of all STDR account.”

            We have perused the record and apply our mind judiciously and found that TDS has been deducted by opposite parties, which is mandatory under the Income Tax Act. The complainant is free to claim his TDS from the Income Tax Department and this Commission has no power to adjudicate any matter relating to Income Tax and TDS, which is mandatory under IT Act. The opposite parties have not committed any deficiency in service and there is no fault on the part of opposite parties for deducting TDS for which we dismiss the consumer complaint. No cost.

 

            Pronounced in the open Commission on this 21^st October, 2022.