Issue TDS Certificates Promptly - RBI Tells Banks
IT has come to the notice of the Reserve Bank of India that some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income tax returns timely.
With a view to protect interest of the depositors and for rendering better customer service, RBI has advised banks to provide to their customers from whose income, tax has been deducted at source, TDS Certificate in Form 16A. Banks are advised to put in place systems that will enable them to provide Form 16A to the customers within the time-frame prescribed under the Income Tax Rules. Banks should avoid waiting till the last moment.