- This topic has 49 replies, 23 voices, and was last updated 1 year, 2 months ago by
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RHi good people of this group,
I am employed in a tier 1 law firm in Delhi and get my monthly salary in my HDFC bank account.
I also run a podcast where brands pay me and I get the payment from that too in the same HDFC Bank account.
A PR agency I had worked with in the past sent me 5 Lakh rupees in my bank account by mistake on 7 April.
Today morning, I got a call from HDFC Bank that the agency has told them that they have sent the money by accident and HDFC Bank has kept a hold on the amount. The person also said that they need my consent to send the money back.
I am more than willing to send the money back but can anyone guide me that since this amount has reached my account if I will be liable to pay income tax on this amount. Also if I choose to not give consent for reversal, what will happen?
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SYou wont be having to pay the income tax if it is deducted back by the bank.
But make sure they are deducting it back after getting consent from you, not you send back the money by yourself through neft/upi.
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RThank you for your quick revert. I have asked both the bank and the PR agency’s finance team how to give my consent, but both seem clueless.
Will you also know what will happen if I do not give consent, the PR team has been haggling me with calls despite my full cooperation and I want compensation from them.
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SI once had this issue where someone sent an amount by mistake. I had to provide a written letter to my nearest branch and they transferred the amount back to the person.
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RThank you, I’m not going to the branch for this. It’s not even my fault, why should I take a day off from work to deal with someone else’s mess?
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RYou are free to assume what you want, I really want to get out of this as soon as I can without causing disruption in my life
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CIf you’d really wanted that then you would have given the letter to the branch with your consent. Then no one would bother you
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RAs I’ve mentioned in a comment, I asked both the PR agency and the bank today how to give my consent and they both said they’ll get back to me and they did not.
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CFair enough, though your other comment suggests otherwise.
>Thank you, I’m not going to the branch for this. It’s not even my fault, why should I take a day off from work to deal with someone else’s mess?
This is not a small amount that you have received and the company will keep harrasing you until they get the money
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RMy home branch and where I live right now are in different cities and it is a major disruption in my life if I have to visit the branch to get this sorted. And again I did not create this mess, so I’m sure not suffering for it.
As far as the amount is concerned, the bank has already placed a hold on it and I can’t use it.
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MYou can send a scan copy of signed letter from your registered Email ID
How I know, because I face this issue atleast 5-6 times a year and that’s how I resolve the issue..
Also, you don’t have to pay income over it, it’s not your income..
Please remember to let bank do it (Bank will do Bank induced transaction instead of Customer induced transaction) and ask them for confirmation of debit with whole issue so that you can have a proof in case you need it in future.. -
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DTo be honest, even if I was in his position, I wouldn’t go to the bank on my expense and my time for someone else’s fault. Last time I visited bank was during demonetization and that too because I had to since we needed cash for daily expenses. It’s not easy for everyone to drop into their bank while going for work. For me it will mean I take a half day off or I was waste Saturday when I am off and the bank is open. I would charge the accidental depositor atleast 1 days salary equivalent to go to the bank and approve the reversal.
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CSure agreed, if one wants to get compensated, they should inform the other party that.
All I am saying is that that just saying you won’t do it because it’s inconvenient to you won’t work in this case as it’s not a small amount.
Someone else suggested to just email a scanned copy of approval and that would work. I guess that would be easier.
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DBut why would it not work for me in this case. The bank has blocked the funds so it’s safe. I didn’t do anything illegal to get the amount blocked so I am safe. Me rejecting to go to the branch for this doesn’t work for the opposite party. For me, it doesn’t matter at all.
Also, I would file a complaint against my bank as they would have shared my contact details with the accidental depositor for them to call me. This is against the law. If there is anything wrong/illegal is being done, it is by the bank. I am in the right to refuse to go to the bank before I am compensated. You may feel that I am in the wrong but that’s your opinion. The fact is I haven’t done anything wrong and neither banks nor the depositor can make me go to the bank. My bank can request, that’s it. The other bank and the depositor should not even be contacting me.
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CYou assume that everything would be done legally here.
Also the person who accidentally deposited the money already had worked with OP so no detail sharing is done by the bank.
The other party already has all OPs details, these days people have created scene for far less money.
And if you still want to live in Ideal world where people would do things legally then I have nothing else to say. You do you.
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BEver heard of email? Most of my official “letters” these days are emails to the bank.
Just write a letter, sign and scan it and send to branch email. Use porter to deliver the hard copy, if they insist on a hard copy. Usually email with scan copy is sufficient-
RThank you for your inputs, this issue has been sorted. The agency coordinated with the bank and the bank sent me an email which I had to reply to.
I was paranoid because I have run a company before in Delhi with my current account in Yes Bank and they for sure did not believe in emails.
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PExbanker and lawyer here. You write a simple application, attach their mail print outs and deposit with the bank. Ask bank also acknowledge and confirm reversal to you on mail.
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RI’ll speak with the agency and bank and get this sorted. As I’ve mentioned my home branch and where I am living are in different cities and I will need to spend at least 25k rupees and take two days off if I need to visit my home branch in person.
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PNo need to travel.Visit nearest branch..you are only trying to help the bank. Tell them to pay ypuur ticket costs if they want you to visit the home branch. Let your local branch manager attest the letter you are giving, let him talk to your home branch manager and sort it out..it can easily be done.
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Eplease provide your written consent, bank will remove the hold from your account and revert the transaction.
I will suggest you not to delay as if the original sender files a cyber complaint agianst you then minitry of home affairs will put “MHA” hold to your account and then you will be required to visit police station for providing the written consent and it will take time to complete all the procedure and get the holds remove from your account. -
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CSo you are employed in a Teir 1 Law Firm and you are asking about Law on Reddit😒
You have to visit your Branch to clear this mess, whether it’s created by your fault or not.
Just imagine if that agency filed a Cyber Complaint, your whole Bank account will be frozen and then you have to visit both Bank and Police station😑
Sometimes Keep some things Simple in Life Bro.
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RI work in the strategy team and am not a lawyer. Also they can’t file a cyber case as I never asked them for the money and they deposited it themselves.
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Y>Just imagine if that agency filed a Cyber Complaint, your whole Bank account will be frozen
Wait that’s possible in this case? OP didn’t do any fraud here, the mistake is from there end not OP.
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