Form No. 26AS (Annual Tax Statement u/s 203AA)

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In the NSDL a/c i.e Form No. 26AS (Annual Tax Statement u/s 203AA) the details of some TDS for A.Y 2009-2010 have not being reflected, even though the assessee have Form 16 in physical form (Plz note that the PAN No. of the assesse was provided to the deductor the same is also mentioned in the Form 16).  [TDS is on Interest Income from Banks and F.I)

 

Will that create any problems for tax credits?

Is any steps in this direction necessary?

Replies (3)

some mistake(in filing e-return i.e. while feeding the data) might be done by Banks or FI while uploading the TDS return & therefore the credit is not reflected online.

I think unless the credit is reflected online one will not get the Credit of the Same TDS.

i think while assessment if u produce the Hard copy u should get the TDS credit

sunil

Since credit is not reflected in Form 26AS, looks like the employer has not paid the tax to dept according to clause 1A of section 192. If non-deduction was the case, he would have been treated as assessee in default and

1.  Interest will be charged under clause (1A) of section 201 and,

2. Penalty u/s 221 will be charged and,

3. Penalty u/s 271C will be charged( but only by Jt. commissioner). But this is not the case.

Here, he didn't pay to department and he will be treated as assessee-in-default, and the terms are:

 

1. Interest will be charged under clause (1A) of section 201 and,

2. Penalty u/s 221 will be charged and,

3. Prosecution u/s 276B will be started

So, all responsibility is with the tax deducter and the contractor/employee don't have to worry. The TDS Certificate u/s 203 (Form 16 in this case) will be sufficient to prove before the assessing officer. But if you got time, I suggest taking up the matter with the deductor- to know if any fraud is going on.

the deductor must have made mistake in quoting pan in filing of tds return , so you may approach the deductor and tell him to revise the return so that you may get credit of the tds

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