West Bengal

Kolkata-I(North)

CC/363/2015

Nil Kumar Basak - Complainant(s)

Versus

The Indian Overseas Bank - Opp.Party(s)

10 Nov 2017

ORDER

Consumer Disputes Redressal Forum, Kolkata - I (North)
8B, Nelie Sengupta Sarani, 4th Floor, Kolkata-700087.
Web-site - confonet.nic.in
 
Complaint Case No. CC/363/2015
 
1. Nil Kumar Basak
S/o Late Radha Nath Basak, 25/3A, Salimpur Lane, Dhakuria, Kolkata - 700031.
...........Complainant(s)
Versus
1. The Indian Overseas Bank
Dhakuria Branch, Branch Manager, 2, Kalibari Lane, P.S. - Lake, Kolkata - 700031.
............Opp.Party(s)
 
BEFORE: 
 HON'BLE MR. Sambhunath Chatterjee PRESIDENT
 HON'BLE MR. Sk. Abul Answar MEMBER
 
For the Complainant:
For the Opp. Party:
Dated : 10 Nov 2017
Final Order / Judgement

Order No.  14  dt.  10/11/2017

       The case of the complainant in brief is that the complainant made four RDPs amounting to Rs.3,16,687/-, Rs.6,33,374/-, Rs.11,14,018/- and Rs.11,93,590/- with maturity on 13.9.13, 14.9.13, 26.9.13 and 26.9.13 respectively. After maturity the complainant noticed that the tax deduction was made in respect of the interest accrued to the fixed deposits and o.p. bank deducted the amount of Rs.2827/-, Rs.5654/-, Rs.9941/- and Rs.10,651/-. The complainant after coming to know of the said fact contacted the o.p. and informed the o.p. as to why such deduction was made in respect of submission of the 15H Form. The complainant further stated that o.p. did not care to issues Form 16A to protect the complainant for incurring any financial loss in respect o submission of the said form. The complainant after coming to know of the said fact tried to rectify the return, but the same was not accepted by Income Tax Deptt. for which the complainant claimed the amount deducted by the bank to the tune of Rs.24,813/- and interest and compensation and litigation cost.

            The o.p. contested this case by filing w/v and denied all the material allegations of the complaint. It was stated that the complainant never visited the branch of o.p. regarding any discrepancy of the RDP certificates. The o.p. bank credits the interest amount to RDP account twice in a year. Interest certificate can be issued to the customer as per his/her request to the bank at the end of the financial year for the purpose of filing of income tax return, but the complainant never requested and/or demanded from the o.p. to issue interest certificate for his fixed deposits for the financial year 2011-2012. The complainant submitted 15G Form instead of 15H Form prescribed for senior citizens for exemption from TDS. The interest certificate shows that the interest amount credited and TDS deducted by the o.p. from various fixed deposit account of a particular customer for a financial year whereas Form 16 is a statement of TDS deducted interest credited in a quarterly basis which was transmitted by the bank to the Income Tax Deptt. However, the complainant had never requested for the same after financial year 2011-2012. It was further stated that the complainant submitted 15H Form for the financial year 2010-2011 and accordingly no deduction was made by the o.p. Since the complainant did not submit the 15H the tax deduction was made for the financial year 2012-2013 and the Form 16 had been submitted on 15.5.12 as claimed by the complainant was denied by o.p. bank. In view of the said fact o.p. prayed for dismissal of the case.

            On the basis of the pleadings of parties the following points are to be decided:

  1. Whether the complainant had the fixed deposits with o.p. bank?
  2. Whether the complainant submitted the 15H Form for the financial year 2012-2013?
  3. Whether there was any deficiency in service on the part of o.ps.?
  4. Whether the complainant will be entitled to get the relief as prayed for?

Decision with reasons:

            All the points are taken up together for the sake of brevity and avoidance of repetition of facts.

            The complainant argued that the complainant made four RDPs amounting to Rs.3,16,687/-, Rs.6,33,374/-, Rs.11,14,018/- and Rs.11,93,590/- with maturity on 13.9.13, 14.9.13, 26.9.13 and 26.9.13 respectively. After maturity the complainant noticed that the tax deduction was made in respect of the interest accrued to the fixed deposits and o.p. bank deducted the amount of Rs.2827/-, Rs.5654/-, Rs.9941/- and Rs.10,651/-. The complainant after coming to know of the said fact contacted the o.p. and informed the o.p. as to why such deduction was made in respect of submission of the 15H Form. The complainant further stated that o.p. did not care to issues Form 16A to protect the complainant for incurring any financial loss in respect o submission of the said form. The complainant after coming to know of the said fact tried to rectify the return, but the same was not accepted by Income Tax Deptt. for which the complainant claimed the amount deducted by the bank to the tune of Rs.24,813/- and other reliefs.

            Ld. lawyer for the o.p. argued that the complainant never visited the branch of o.p. regarding any discrepancy of the RDP certificates. The o.p. bank credits the interest amount to RDP account twice in a year. Interest certificate can be issued to the customer as per his/her request to the bank at the end of the financial year for the purpose of filing of income tax return, but the complainant never requested and/or demanded from the o.p. to issue interest certificate for his fixed deposits for the financial year 2011-2012. The complainant submitted 15G Form instead of 15H Form prescribed for senior citizens for exemption from TDS. The interest certificate shows that the interest amount credited and TDS deducted by the o.p. from various fixed deposit account of a particular customer for a financial year whereas Form 16 is a statement of TDS deducted interest credited in a quarterly basis which was transmitted by the bank to the Income Tax Deptt. However, the complainant had never requested for the same after financial year 2011-2012. It was further stated that the complainant submitted 15H Form for the financial year 2010-2011 and accordingly no deduction was made by the o.p. Since the complainant did not submit the 15H the tax deduction was made for the financial year 2012-2013 and the Form 16 had been submitted on 15.5.12 as claimed by the complainant was denied by o.p. bank. In view of the said fact o.p. prayed for dismissal of the case.

            Considering the submissions of the respective parties it is an admitted fact that the complainant had several fixed deposits with o.p. bank during the financial year of 2012-2013. It is an admitted fact that the accrued interest was credited in respect of the said fixed deposits in favour of the depositor and the Form 16 was issued after the financial year. The complainant has claimed that he submitted the 15H Form on 15.5.12 could not substantiate the claim of the complainant that he submitted the same on that date i.e. he at all submitted the 15H Form within the financial year of 2012-2013. It is the usual practice of the bank after deducting the tax from the accrued interest and the same is remitted to the account of Income Tax Deptt. The entire deposits and income earned by the depositor is reflected in the 26AS of the site of the Income Tax Deptt. in respect of an individual income tax payer. The complainant when found that the amount was deducted from his account during the financial year and it was reflected in the 26AS, the complainant should have contacted the o.p. bank and could have submitted the 15H Form within the said financial year. But here in this case, the complainant failed to produce any corroborative evidence that he submitted 15H Form within the said financial year. It is the mandatory duty of the bank to deduct the income tax from the income of the accrued interest. Since the complainant failed to produce any documentary evidence that he submitted 15H Form, therefore we hold that the claim made by the complainant for refund of the amount deducted from his account cannot be accepted. In view of the facts and circumstances as stated above, we hold that the case filed by the complainant has got no merit and the complainant will not be entitled to get any relief as prayed for. Thus all the points are disposed of accordingly.

            Hence, ordered,

            That the CC No.363/2015 is dismissed on contest without cost against the o.p.    

            Supply certified copy of this order to the parties free of cost.

 
 
[HON'BLE MR. Sambhunath Chatterjee]
PRESIDENT
 
[HON'BLE MR. Sk. Abul Answar]
MEMBER

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