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Issue TDS certificates on time to customers: RBI

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, RBI said

November 07, 2013 11:07 IST | India Infoline News Service
The RBI (Reserve Bank of India) on Wednesday asked banks to put in place systems to enable timely issuance of TDS certificates to their customers.

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, RBI said in a notification.


To protect the interest of the depositors and for rendering better customer service, banks are advised to provide to their customers from whose income tax has been deducted at source, TDS Certificate in Form 16A, RBI said.

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, the RBI further said.


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