My Form 26AS and Form 16, both showing same interest amount, but this amount is more than the amount showing in my AIS and my Bank's interest certificate. My AIS and Bank's certificate is having the same less amount and my Prefilled ITR is also showing AIS amount, which is less and as per my own calculation, AIS amount is correct. This all difference is due to a particular fixed deposits whose interest figure has been showing different in 26AS and AIS.
I have also written and emailed to my bank to correct either 26AS And 16 or correct AIS, so that their total amount matches but they have not taken any action so far and I presume that they will sit down on my complaint. Please advise me how to file my ITR as 31 July is approaching fast.
If I modify the figure in AIS and increase the interest amount than I will have to pay 20% more Tax on that increased amount which I have not earned and already Bank has deducted 10%. on this excess amount.
Note: The TDS amount is same in 26AS, 16 and Bank's interest certificate even when the interest income is showing less in the Bank's certificate and TDS has been deducted on the excess amount showing in 26AS.
05 July 2023
The difference could be due to accrued interest on FD. If so, declare the interest on FD too and claim the TDS in total. If any mistake then file return with actual amount of interest earned as per your bank statement.
05 July 2023
Difference is not due to accrued interest. Every year there is no difference. It has happened only this time. I can file ITR as per Bank's interest certificate as this matches with the AIS and also with the Prefilled ITR but will I not receive notice as Form 26AS and 16 are showing more interest income.
05 July 2023
Sir, TIS is also showing excess interest income same as 26AS, wherein AIS is having less which is correct as per my calculation and also as per Bank's interest certificate.
05 July 2023
Sir, Thanks. But it means that I will have to pay the 20 percent more tax on the excess interest showing in TIS and 26AS which I have not earned in actual. Already 10 percent deducted by Bank.
05 July 2023
If you can support your claim by evidence, you can file ITR based on your claim. In case of any query you can justify your claim. Otherwise, unless bank rectified the excess interest, the form 26AS &/or TIS figures won't change.
06 July 2023
Sorry Sir, I missed one thing. Just wanted to add that in TIS detailed page it is showing the same excess amount under TDS/TCS which is mentioned in 26AS but under SFT it is showing the same less amount which is mentioned in Bank's Interest Statement and Prefilled ITR and this is the amount which I have actually received. Now what should I do. and what is the meaning of showing two different amount in TIS
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=1351951
06 July 2023
Could not find any reason, except that one amount matches with Interest Certificate and other with 26AS. MYy query is that now they have mentioned both the amount in TIS details, so can I now take the amount which matches with AIS which is less and matches with Bank's interest certificate and is also prefilled in ITR.
07 July 2023
I did not understand. Both are related to same type of income i e Fixed Deposit Interest. One is more and wrong but matches with 26AS and the other is less but right and matches with Prefilled ITR and AIS
07 July 2023
One more thing. In TIS detail page the higher side amount is under TDS/TCS and Reported, Processed and Derived value is same higher amount. And in next line under SFT, the lessor side amount is under Reported value but Processed and Derived value is blank
08 July 2023
If I consider the first one then I will have to pay the tax on the income which I have not received as the first one amount is excess and wrong
08 July 2023
As the amount has been reported in AIS by bank, the query will be raised if you declare anything less than that. It is upto you to defend the allegation by providing the correct documents/evidence that you may have or pay extra tax and close the issue from beginning.
08 July 2023
I think there is some confusion. In AIS, Bank has repoeted lesser amount which is right and I have no problem about that. But in TIS, two amounts are mentioned in TIS details page, one which tallies with AIS and ITR Prefiiled amount and that is correct according to me and other amount which they have mentioned tallies with 26AS, and TIS main page is showing 26AS amount.
08 July 2023
Contact local professional with copies of all these documents for physical verification of them to remove the doubt. Without physical verification of all the documents, the actual problem cannot be sorted out.
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