Customer Declaration on filing of Income Tax Return

JANAKALYAN SAHAKARI BANK LIMITED

Customer Declaration on filing of Income Tax Return
(Pursuant to Sec 194N of Income Tax Act, 1961)

Name of the Account Holder / Customer
Customer ID
Name and Designation of the Authorised Signatory providing the declaration
CIF
Customer’s PAN

I / We note that in terms of Section 194N of the Income Tax Act, 1961, Janakalyan Sahakari Bank Limited, being a Banking Company to which Banking Regulation Act 1949 applies shall, with effect from July 1, 2020.

>> Deduct TDS at the rate of 2% of cash withdrawn in excess of Rs.1 crore during the year 2020-21 from all my / our accounts with the Bank; and

>> If we have not filed my / our Income Tax return for all the three assessment years relevant to the three previous years for which the time limit of filing return of income u/s 139(1) has expired as of March 31, 2020, deduct TDS at the rate of

>> 2% of cash withdrawn from all my / our accounts in excess of Rs.20 lakhs during the year 2020-21 but upto an amount of Rs.1 crore; and

>> 5% of cash withdrawn from all my / our accounts in excess of Rs.1 crore during the year 2020-21

In this regard, I / we, ______________________________________________________ having a banking relationship with Janakalyan Sahakari Bank Ltd, state that, I / we have read and understood Section 194N of the Income Tax Act, 1961 and other applicable rules, notifications, circulars etc. relating thereto.

I / we hereby confirm that (Please tick as applicable):

1) I / we have filed the Income Tax Return for below mentioned immediately preceding Financial Year/s relevant to the year of declaration as mentioned above:

Financial Year 20____ - ____

2) I / we were not liable to file the Income Tax Return for below mentioned immediately preceding Financial Year/s relevant to the year of declaration as mentioned above:

Financial Year 20____ - ____

Further, I / we undertake to furnish, promptly, proof of filing the Returns or any further information that may be sought by the Bank in support of above declaration.

I / we further declare that information furnished above is correct. In case any part of the above declaration is untrue / false, or the proof were not furnished within reasonable time, we undertake to indemnify Janakalyan Sahakari Bank Limited for all costs and damages including interest, penalty, etc and the bank shall be eligible to recover the amount from the bank account.

Name of the Account Holder / Customer
Customer ID
Name and Designation of the Authorised Signatory providing the declaration
Signature of the Account Holder / Customer / Authorised Signatory
Place
Date