Filing ITR: Ensure Form 26AS Is Correct

You may now be setting your pace ready to file the ITR for the FY 2017-18 as the deadline is shortly nearing. In this context, you need to account for both the Form 26 AS that reflects all the tax deductions at source as well as the deductions made by employer and filed in Form 16.

Also, while going about the process of return filing for the year, it is necessary that you make sure that TDS deduction certificate issued by different entities is in line with the Form 26AS. This is to be taken note of as any differences in either of the certificates may arise questioning by the Income tax department.

An important point to note is that any of the TDS certificate being issued to you is valid only in the case if its downloaded from the TRACES portal in a specified format and handed over to you.

The discrepancies may come to the fore because of some of these reasons

1. Non-filing of TDS return by any of the deductor

2. Providing wrong AY

3. Non payment of TDS amount

4. Providing wrong PAN details

5. Incorrect challan details when filing the TDS return

6. Not depositing the TDS amount with the tax department

7. Form 26AS not indicating the self-assessment and advance tax payments made

8. Also, there can be an instance of TDS credits of some other individual being reflecting in your form 26AS.

How to rectify different Form 26AS errors?

PAN Mismatch: In case of this error, which can be due to the banker or may be in itself quoted wrongly in the tax challan, you need to check whether the tax challan carrying Challan Identification Number (CIN) in your counterfoil copy is uploaded with the TIN and if there is a mismatch, you now need to approach your Income tax AO for the purpose.

In case of mismatch between TDS certificate and form 26 AS : The different errors in the two forms may be due to some of these issues that include non-filing of TDS return by the deductor, quoting of wrong TAN of the deductor or incorrect TDS amount or not taking into account the challan details.

Herein, you need to get the differences settled with the help of the deductor by asking the entity to file the revised TDS return. Also, the different TDS certificates issued need to be correct as the same is to be produced as a proof of TDS claims made in case there arises scrutiny implications.

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