Both parties are absent. After several time case is called out. Nobody appear on behalf of the parties and case is fixed for arguments as lost chance.Hence the argument of the parties is here by closed.On persal of the record it appear that Complainant filed this case for valuation of terms and condition of FD Rs. 20,000/- according to the certificate issued by the O.P. Complainant claimsaccording to certificate O.P should be paid Rs. 21 Lakh as double benifit but after maturity O.P Bank Of India paid only after deduction of income tax Rs. 35,361.13 which is the voilation of terms and condition reflected in the certificate issue by the O.P. Further the Complainant stated that he is a retire army personnel and on that basis he claim the relief as finintial law Rs. 35,361.12 and mental and physical harsahment Rs. 64,500.00 i.e total amount of Rs. 99,861.13 only. Futher it appears after admiting the case issue notice against the O.P Bank Of India, Chaibasa branch and the O.P only give a reply against the notie and stated that according to Income tac act which is as follows.
1. Section 194A of Income tac act 1961 stipulate deduction of tax of source (TDS) on interest on term deposit account if such intrest credited or paid to the account of payee during financial year exceeds Rs.10,000/-.
2. Under section 194 A of Income Tax Act 1961 the bank shall in accordance with the provisions of the act deducted tax at source on intrest accuring on the deposits as per existing procedure and at the rates in force and same to be sent to the income tax dept. If deposition fails to submit income tax declaration form 15H in case of senior citizen or otherwise form 15G with stipulated time.
3. Under this provision no tax will be deducted only in case the deposit in the bank is bt Central Or State Government. The Avilable facts of the parties on record it is clear that Complainanthas not submited the income tax declartion form 15H Or 15G within a stipulated time becasue several times has been given to the Complainant for producing the evidence orally or documentry but he not produce any evidences orally or documentry except the format form and the photocopy of bank draft serial no. 4510. Similarly. O.P has also not produce any evidences except the said reply ref. no. CBSA/PSL/201-15 dated 12/11/2015 and said avilable facts O.P clearly stated that he had deducted the rupess 35,361.13 as income tas according to provision of income tax act because the Complainant has deposited 21 Laks Rupees which is much and more deposit Rs. 10,000/-
Further the O.P stated that if once the T.D.S on intrest accrued on term deposite is deducted and remitted to income tax departement the Complainant can apply/claim income tax departement for refundof T.D.S amount if he assumes the deuction of T.D.S was not justified. The O.P has accorded with the Sec-194A of income tac act 1961 in the case Shri Bijay Singh Banra.
Under such circumstances discussed above it is clear that Complainant should be submitted the T.D.S for returing of excess amount ehich has deducted by the O.P but the Complainant has filed this case before this forum which is not remedy. Hence this case has no marrit according to the avialable matterial on record. Hence this case is hereby dissmissed and both parties are bear their own cost.
