Form 26as (tds amount)

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Dear Experts, Please help me on following issue: TDS deducted by deductor Rs. 10000 on Rs. 100000 instead of 8000 on Rs. 80000 Form 26AS shown Payment amount 100000 & TDS Amount 10000 Can i claim Rs. 10000.00 TDS Amount in Income Tax Return & Income shown Rs. 80000.00 What should I do. Please also note that deductor refused our request for revised return due to some dispute of business Regards
Replies (10)

Please ask them to revise their TDS return and you can show your correct income and TDS

If you are sure that your income is only 80,000 from the invoice that you have raised (not 1 lac), then you may declare the same as income and adjust tax deducted @ 10,000 even though it is higher than the amount required to be deducted. But you need to have proof (invoice) in respect of declared income, in case AO wants to verify. Do this only when the transaction is genuine.

Above solution is much appropriate.

Please note, that there should be followed an appropriates steps in such circumstances, how can you show the income for which you havent earned the same, if the deductor is doing such defaults may be in future he may deduct TDS and will not show the same in return, then can you rely on your 26AS.

Hence its is advisable to ask the deductor to revise the return accordingly and file correct return as per income earned, so that they avoid such carelessness in future

Also a case law persists where the court has laid decision that, in no case the deductee shall be penalised for the default of deductor if the deductee prove the same.

Please confirm whether the deductee has shown 10000TDS deduction in returns or actually he has deducted 10000 from income payment of RS.8000

In 26AS shown Rs. 10000, Then Claim 10000/- as per 26AS if revised TDS Return not submitted by deductor. Tell the Deductor to give your Ledger as per his Accounts and tally the same with you.

Here the issue is that the deductor is not ready to revise the return. In such a case, what's the point if one suggests to revise the return!!!!. Moreover showing 80,000 does not amount to disclosure of income not earned, instead it would be mean disclosure of actual income (assuming it to be so).

submit your income tax return with actual data instead of wrong data

Take actual figures i.e. Rs. 80000 & 8000. It will not be right to claim tds Rs. 10000 while actual tds is 8000. What if he revised the return later when you have already taken the benefit of Rs. 10000?

Your problem looks like a mistake by TDS deductor . Note that you have been paid 100000/- as also shown in 26AS and 10000/- os also deducted as TDS accordingly. Now how is 80,000/- income and 8000/- TDS is being put in your question.

If You have been paid 1Lakh  so 10k is deducted as TDS as show in 26AS also. So filing with 10k TDS with 1 Lakh income is justified for your return. OK.  If you received 80,000/- income then only your TDS shall be 8k and accordingly file with 8k TDS . But your F-16 should show 80k income and 8k TDS . 

If U have Form-16 with 80 k and 8k deduc ted , then forget Form 26as in this case as you are claiming 8k which is less than 10k . But a question how you have absorbed 1lakh income in place of 80k , will remain a question for IT deptt. and u may get notice from them.

So TDS deductor must revise the thier TDS return positively.

 


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