A tale of Jupiter FD Scam

[xfactcc]

Opened their brand of FD 'Pot' 1 year ago for 10k with their highest lock-in 'superpots' with highest interest i.e., 365 days for 6.8%. I did this to maintain their 10k TRV requirement to remain 'Pro'.

Straight forward calculation upon maturity interest should be Rs. 680.

It matured and I received 610, immediately reached support by chat, after 13 days of intense brainstorming on their part as if, they told me everything's correct the ROI is 6% so I have received correct interest of Rs. 600! Which is itself 10 less than what actually received. 🤨

Please tell me what Jupiter is smoking? Later approached level 1 email support and still same answer. Time to hound them.

Check screenshots for reference.

 

[_amit_]

Ignoring CS reply and screenshots for a while as they are inconsistent, are you sure they did not deduct TDS? I am assuming you did not provide 15G.

Check 26AS once.

 

[xfactcc]

Ignoring CS reply and screenshots for a while as they are inconsistent, are you sure they did not deduct TDS? I am assuming you did not provide 15G.

Check 26AS once.

My FD does not qualify for TDS
No TDS certificate or intimation provided
Rs. 70 cannot be TDS - 6.8%
CS didn't mention anything about TDS

 

[doraemon]

Mai bhi sochta tha tds nahi kat ta hai garib ka
Par 26as ya income tax ka ais app PE check Karo kata hoga

Considering ki aapka intrest income from all sources has exceed 40k mark on pan level

Otherwise if genuine inconsistency then you should refer the thread where a canara customer got 10k compensation for less amount in fd intrest

@varun__goel_ pls refer him the canara fd compensation thread


Agar compensation mili to iss garib ko yaad karna 😃

 

[varun__goel_]

Mai bhi sochta tha tds nahi kat ta hai garib ka
Par 26as ya income tax ka ais app PE check Karo kata hoga

Considering ki aapka intrest income from all sources has exceed 40k mark on pan level

Otherwise if genuine inconsistency then you should refer the thread where a canara customer got 10k compensation for less amount in fd intrest

@varun__goel_ pls refer him the canara fd compensation thread


Agar compensation mili to iss garib ko yaad karna 😃

Mai nhi tha bhai fd vaala🙂

 

[doraemon]

Mai nhi tha bhai fd vaala🙂

Hn Bhai wo thread ka link maangra hu
Mujhe mil nahi Raha tha

 

[doraemon]

Thread 'Received compensation for harassment from Canara Bank' https://www.technofino.in/community...sation-for-harassment-from-canara-bank.25262/



See this thread
And follow the procedure accordingly

 

[_amit_]

My FD does not qualify for TDS
No TDS certificate or intimation provided
Rs. 70 cannot be TDS - 6.8%
CS didn't mention anything about TDS

• Yes, it does not qualify, but we are giving the Jupiter benefit of doubt that their system might be buggy
• Happens with many banks
• Round off
• As mentioned earlier, I am going to ignore CS as they did not debit 10 Rupees because you received more as per their calculation.

Please check 26AS once to confirm rather assuming. Though many times 26AS entries are delayed, but still worth checking.
If its not TDS, then you should email higher authorities at Jupiter with the Screenshots you have to know what is going on. I guess Jupiter uses Federal bank?, so maybe they did something wrong.

 

[Nilanchal]

Can anyone guide me onto how can I check 26AS or AIS ?
Note- I have not registered on income tax website

 

[varun__goel_]

Can anyone guide me onto how can I check 26AS or AIS ?
Note- I have not registered on income tax website

You will have to register on income tax website to get 26AS

 

[its_karan]

Posting it here:

e-Filing Home Page, Income Tax Department, Government of India

eportal.incometax.gov.in

Just incase not yet done

 

[anonymuos]

I created a regular FD via Jupiter instead of their "Pots" FD to avoid this kind of shit. It's good that you are fighting. I hope you win the case even if it requires complaining all the way up to RBI ombudsman.

 

[Rahul Gupta]

Mai bhi sochta tha tds nahi kat ta hai garib ka
Par 26as ya income tax ka ais app PE check Karo kata hoga

Considering ki aapka intrest income from all sources has exceed 40k mark on pan level

Otherwise if genuine inconsistency then you should refer the thread where a canara customer got 10k compensation for less amount in fd intrest

@varun__goel_ pls refer him the canara fd compensation thread


Agar compensation mili to iss garib ko yaad karna 😃

AIS par data kitne time m update hota h kuch idea h? mera financial year 2023-24 m kuch nhi dikha rha.

 

[rp0703]

AIS par data kitne time m update hota h kuch idea h? mera financial year 2023-24 m kuch nhi dikha rha.

No fixed time. It updates as and when data is available with them. If not showing anything that might be because banks have not reported the information yet.

 

[doraemon]

AIS par data kitne time m update hota h kuch idea h? mera financial year 2023-24 m kuch nhi dikha rha.

Probably in mid May month

 

[xfactcc]

😯

78 days later...

 

[Vasuki]

Can anyone guide me onto how can I check 26AS or AIS ?
Note- I have not registered on income tax website

Download ais app from play store

 

[_amit_]

😯

78 days later...

My assumption was TDS, but looks like this is clearly a wrong doing from their part.

Did they clarify why this happened?
Though you can ask for interest on the amount too as it was delayed but it would be nothing.


I see it as a scam. They could have scammed people in crores, who knows? Who knows how many people have been affected by this.

If you complain to RBI, and hoping RBI ask for audit about how many were affected, this could be troubling for Jupiter.

 

[its_karan]

😯

78 days later...

Cant decide whether to congratulate you

Or Give you a Sad emoji

They took 78 days to calculate/ confirm the interest rate

Financial Literacy is not so commonin so called Common people

वित्तीय साक्षरता इतना सामान्य नहीं है तथाकथित सामान्य लोगों में

 

[Batman]

At this point I think Jupiter is trying to outright scam the people.

Many commentators here had also commented on my post - https://www.technofino.in/community...-even-though-savings-account-is-active.26395/

My case is also resolved now. I've already complained to RBI BO. I had requested for enquiry into authenticity of Jupiter POT scheme, hopefully that happens.