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26AS TDS amount is bigger than books

Prashant Rawat (Accounts Trainee) (61 Points)

26 February 2022

My company's 26AS has many TDS Entries but we did not received any amount from them (parties). How those TDS deduction is in 26AS.

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4 Replies

Vasudevan C P (403 Points)
Replied 26 February 2022

Ask each party corresponding to entries to enquire more details and get it rectified

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 27 February 2022

Some times there can be genuine reasons for this difference

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sabyasachi mukherjee (27330 Points)
Replied 27 February 2022

Pls post exact ledger extracts.
cr. side represent liability
dr. is payment.
What is the balance?

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 03 March 2022

Practically , if March invoice payment is made in April or May or as per terms .
Few companies consider the AY based on payment.

Suppose payment is made on 20th April then Tds will be credited in next year .Short fall in current year & excess in upcoming year .

You may do invoice wise Tds reconciliation with 26AS to find the exact difference.

Some times payment for invoice may take months .You might have booked it in previous year but in 26AS it comes for current year