I had posted this question a couple of days back so i am posting it again since no one answered. Sorry for the spam.
My Old mother has some bank deposits in her name. When i see the 26AS form.
In Part A:
Total Amount paid/Credited shows sum of 80000/- Tax detucted = 1000/-
it shows a list of lots of banks. All of them except 1 bank have not detucted any Tax even though income is more than 10000/- One even says amount deposited/credited = 50000/- but no tax detucted.
The status shows Provisional. What does this mean. Does this mean that tha Bank has not detucted TDS and i have to pay it now?
OKAY, Let me rephrase my question:
Form 26AS ; has 2 parts for PART A
Part A
Part A1.
Part A shows the following:
It has a list of entries, Each showing Total Amount Paid/credited and tax detucted.
In all the entries it shows - Total amount paid/credited by each bank and tax detucted = 0;
except in one entry where in it shows amount detucted = 1000/-
Summation of all enries gives as : Total Amount paid/Credited shows sum of 80000/- Tax detucted = 1000/-
Part A1:
Shows the list of FD's for which 15h/g is submitted.
My question is
1) Should'nt all Part A entries shows Tax detucted also for each entry.
2) What if Part A + Part B = Total amount Credited/Paid exceeds 2.5 Lakhs.
Won't it amount to penalty because 15g/h form can be given only when taxable income is less than 2.5 Lakhs.
Thansk
CAclubindia
