I look after my NRI son’s NRO account in HSBC, Borivali Br. The Bank failed to forward TDS Certificates and when requested responded that it takes 20 working days to provide after receipt of request.. Is it not mandatory for deductor to provide TDS certificates for tax deduction?
And during this correspondence, it was revealed that the bank had fudged account details for FY 2010-11. They deducted TDS but never revealed in account statements, did not issue certificates nor uploaded on NSDL Form 26AS without which TDS cannot be claimed. My son has thus lost over Rs 22, 000, the amount of TDS deducted but informed to us only in Aug 2012.
The Bank enters credits & debits in accounts a day after the actual transaction. So, tax deducted and shown in account as on 01 Apr 2011 now has been changed to 31 Mar 2011!
Why does the Banking Federation permit foreign banks to flout our rules and regulations?
Brigadier Marwa