Infrastructure Development Finance Company [IDFC]

[Resolved] Infrastructure Development Finance Company [IDFC] — Not received the full maturity amount for 4 IDFC Bonds

singhkaran66

Address:

Bhopal-462038

Thanks a lot for creating mandate. I received only Rs 21604/- on 08/04/2021 through digital transfer, which is part payment only. Please see the attached Bond Certificate in which I selected the cumulative option at maturity: The details for the purchased bonds should be as follows:
Invested amount Rs 5000 * 4 = 20, 000/-
Maturity amount should have been: 10800*4 = 43200/-

Even after tax deduction, the amount should have been more than 40, 000/-
In spite of my repeated requests, no response is received.
Please look into it and resolve the issue.
regards,
Karan Singh

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Aug 8, 2021

Complaint marked as Resolved

Infrastructure Development Finance Company [IDFC] customer support has been notified about the posted complaint.

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Comments

IDFC Bank Customer Care

from Mumbai, Maharashtra

We’d like to inform you that the deduction in your maturity amount is towards the TDS applied on Interest Paid. There is no tax if the bonds were held in Demat mode. If held in physical mode, tax is 7.5% with a valid PAN card, and 20% if the PAN number is invalid or unavailable. Click here to know more < https://t.co/ufxCGczCU0 > -Alisha