11 September 2010
Dear Sir At the time of assessment we have claimed tds deduction of Rs.149657/- on the basis of TDS certificates recd. from various parties for Ass. year 2007-08 But as per AS-26 for respective assessment year this is showing only Rs.48422/- credit in our account against tds deducted at source from various parties. How could we claim this difference amount Rs.101235/- with Income Tax department. Please advice.
11 September 2010
You need to reconcile the AS-26 statement party & TDS certificate wise and find the parties those tds certificate shortage and inform them to correct the TDS return and claim the TDS
11 September 2010
Write a letter to such party for request him to revise the return. Recentrly CBDT release
Income Tax Department decided to “Clean up the mismatched TDS Database” and issue Income Tax Refunds. If your refund is pending due to mismatch of TDS database, then you are ready to get refund asap. Admitting that many Income Tax refunds were still pending, the I-T Department decided to “clean up the mismatched TDS database” due to which the refunds were held up. An I-T Department release said, “The Income Tax Department has taken the initiative to clean up the mismatched TDS data base. Many refunds are pending with the IT Department due to the mismatch of tax paid by the assessee, but the same is not being reflected in the computer software of the department.”
The release said that the department is concerned about the same as the problem has risen either due to wrong PAN numbers mentioned by assesses while paying tax or wrong PAN number mentioned by the deductor while deducting the TDS of the deductee.
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