ICICI Tax Certificate Wrong Figures!

PennyPurple

I received my ICICI Tax Certificate this morning, but the gross and net amounts do not match what I see on my statement. The tax deducted figure does match, but the other two amount do not.

I have e-mailed ICICI for an explanation, but thought I would mention to other MSE members that you might want to carefully check the amounts in case there is a more wide-spread problem than just my account.

Also if anyone has any suggestion as to why they might not match the statement, in case I am missing something. I have checked the figures very carefully against the downloaded statement.

Regards,
Penny

Dagobert

Thank goodness you spotted this! I simply filed the certificate away yesterday.

I just checked the figures against my transactions:

On my certificate, the Net interest Paid figure shows the sum of the gross interest I received, not the net interest! The Tax Deducted figure is correct. The Gross Interest figure is the sum of the two other amounts and therefore incorrect, too.

Presumably, everyone's tax certificate will have the same error. What a cracker!

Sherratthead

Thanks for posting this....

I have done exactly the same - just filed it away without really checking it!

I will look again when I get home tonight.....

Jayne xxxx

anticlaus105

Same here. What a bunch of idiots.

barak

PennyPurple wrote:

I received my ICICI Tax Certificate this morning, but the gross and net amounts do not match what I see on my statement. The tax deducted figure does match, but the other two amount do not .....
Penny

I have noticed this too. Anybody completing a tax return has been supplied with incorrect information. The figure they give as 'Net Interest Paid' is in fact the 'Gross Interest'. The 'Net Interest Paid' is actually this figure less the 'Tax Deducted', which doesn't appear on their 'Certificate of Deduction of Income Tax'.

I always had the impression that ICICI were a bit amateurish and only deposited £2000 with them in the knowledge that I would get it all back if anything went wrong.

Sherratthead

I've just had an apologetic email from them......


"Dear HiSAVE Customer,

You may have recently received the tax certificate for your HiSAVE Account for the financial year 2005-2006. Due to a technical error, a few tax certificates carry discrepant figures against the gross and net interest heads. If you observe any such discrepancy, we would like to apologise for the same and wish to inform you that we are in the process of sending an updated tax certificate to avoid any inconvenience. These are expected to be dispatched from our end by the 10th of May 2006.

Please do feel free to call us at 08081314151 or write to us at ukdirect@icicibank.com for any further queries you may have.


Warm Regards,

HiSAVE Team"