West Bengal

Kolkata-II(Central)

CC/560/2015

Sukumar Guha Thakurata - Complainant(s)

Versus

M/S. Kotak Mahindra Bank Ltd. - Opp.Party(s)

Asoke Sinha

17 Mar 2016

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM
KOLKATA UNIT - II (CENTRAL)
8-B, NELLIE SENGUPTA SARANI, 7TH FLOOR,
KOLKATA-700087.
 
Complaint Case No. CC/560/2015
 
1. Sukumar Guha Thakurata
16, Marcus Lane, Kolkata-700007.
...........Complainant(s)
Versus
1. M/S. Kotak Mahindra Bank Ltd.
11/1, redal Plaza, Sarat Bose Road, Kolkata-700020, P.S. Bhawanipur.
............Opp.Party(s)
 
BEFORE: 
 HON'BLE MR. Bipin Mukhopadhyay PRESIDENT
 HON'BLE MRS. Sangita Paul MEMBER
 HON'BLE MR. Pulak Kumar Singha MEMBER
 
For the Complainant:Asoke Sinha, Advocate
For the Opp. Party:
Op is present.
 
ORDER

Order-11.

Date-17/03/2016.

Complainant Sukumar Thakurtaby filing this complaint has submitted that complainant initially opened one F.D. Account bearing T.D. No. 3511311504 dated 31.05.2013 for Rs. 3,00,000/- and after maturity on 25.06.2014 complainant got amount of Rs. 3,31,675/- and complainant was satisfied about the banking service and as per request of the said Bank Officer (op), complainant again opened a FD Account bearing TD No.3511448439 on 14.07.2014 for a sum of Rs.6,00,000/- and date of maturity was 08.08.2015 with sum assured amount of Rs.6,64,045/-.

          But after maturity on complainant’s reminders, op deposited a short sum of Rs.66,57,412/- in place of 6,64,045/-.  In fact Rs.6,633/- has not yet been paid for which complainant submitted the demand notice for refund of the said balance amount on 05.10.2015 including interest.  But op did not pay any heed for which complainant suffered and ultimately for redressal, complainant has filed this complaint for redressal.

          On the other hand op Bank by filing written statement submitted that in respect of earlier FD bearing No. 3511311504 dated 31.05.2013, complainant submitted Form-16A asking for exemption of TD.  So, no TDS was deducted against the said deposit of Rs.3,00,000/- against that term deposit.

          But in respect of the disputed deposit in TD. No. 3511448439, complainant did not submit any Form-16A to the Bank.  Therefore, as per Income Tax Act, TDS was deducted at the time of delivery of the maturity amount of Rs.6,64,045/- was deducted as TDS as per Rule and it was TDS deduction and TDS Deduction Certificate was handed over to the complainant.  So, there was no deficiency on the part of the op, when TDS Certificate issued, complainant filed such prayer before the Income Tax Authority for refund by filing such return.  Accordingly op prays for dismissal of this case.

 

Decision with reasons

          On careful consideration of the complaint and written version and also considering the admission of the op that complainant did not submit any Form-16A, not to deduct TDS at the time of prior to maturity of the amount and truth is that Rs. 6,633/- was deducted as TDS as per Income Tax Law and Order and truth is that complainant received TDS Certificate from the Bank.  Then there was no deficiency, negligence on the part of the op.

             If complainant would file such Form-16A for not deducting TDS, in that case Bank shall not have to deduct it.  When that was not filed, then after maturity it was automatically deducted as per system and that was deducted and truth is that complainant has failed to prove any sort of negligence and deficiency on the part of the op.

          Another factor is that as per Section 194A of Income Tax Act, the Bank is liable to deduct TDS on the income accruing from Term Deposit and as because there was no dividend issued by the complainant for not deducting any TDS by filing application Form-16A.  Automatically on the date of maturity the TDS was automatically deducted  at the rate of10 percent of Income of interest.

          Another fact is that TDS was deducted and it is reflected against his PAN No. provided by the Income Tax Authority to the complainant.  Complainant received TDS Certificate from the Bank.  Then it was the duty of the complainant to submit it along with return if Income Tax for refund of the same if it is not come under the purview of taxable income as per Income Tax Act and Rules.

          So, it is clear that against term deposit account being No. 5511448439 the said amount was deducted as TDS and accordingly balance amount was deposited. 

          In this context it is to be mentioned that the deduction was made by the Bank was completely legal and there was no negligence and deficiency and at the same time it is fact that once TDS is deducted, in that case Bank has not followed to refund the same because the amount as deducted is deposited against the PAN No. of the customer and in the present case that was happened.

          When that is the fact, then we are convinced that complainant knowing fully well was submitted any application under Form-16A for not deducting TDS, he received the money, he also received TDS Certificate issued by the Bank.  Then it was his duty to submit Income Tax Authority to return of money, his PAN No. and in that Income Tax Authority would find that scope is here and there on the part of the complainant to file before the Income Tax Authority for refund.  But complainant has not adopted such procedure but appears before this Forum.

          But truth is that the entire act on the part of the op is legal, valid in the eye of law, deficiency and negligence or any sort of unfair practice is not proved.

 

          In the result, this complaint fails.

          Hence, it is

ORDERED

          That the complaint be and the same is dismissed on contest against op without any cost.

         

 

 
 
[HON'BLE MR. Bipin Mukhopadhyay]
PRESIDENT
 
[HON'BLE MRS. Sangita Paul]
MEMBER
 
[HON'BLE MR. Pulak Kumar Singha]
MEMBER

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