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TDS information in TIN-NSDL 26AS

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)

23 July 2009

TDS is deducted by banks on interest earned by FDs & TDS certificates are issued by banks. Now, TDS information is reflected in TIN-NSDL database too but it does not match with TDS certificates. Which entries (TIN-NSDL Datatabase or TDS certificates) will be treated final by Income Tax department as normally people file TDS information as per TDS certificates issued to them & may not be even aware of information in TIN-NSDL 26AS. Moreover, banks send the information about TDS to TIN-NSDL very late & one can not wait till last day to file IT return. Kindly suggest.

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10 Replies

Moinuddin Shaikh (Consulting) (26 Points)
Replied 23 July 2009

Since TDS certificate is issued a person can claim it. As far as Form 26AS is concerned, the data is as per the TDS returns filed, if no TDS returns is filed then no record will be available and if wrong information is filed then also data will not match with TDS certificate. To play safe a person can approach the entity who has issued TDS certificate with Form 26AS and ask them to rectify the eTDS returns

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RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 23 July 2009

Thanks. But the information in 26AS may appear very late (eg I checked my 26AS & found that bank had informed/booked the TDS information on 21 July 2009 & that too incomplete compared to TDS certificate) & this may leave hardly any time for bank to rectify the mistake & the tax payer to file the return before 31 july after correction is made by bank. In this situation one is left with no option other than filing return on the basis of TDS certificate which means that the 26AS is rendered unimportant with respect to filing return.

Vidya (Accounts Executive) (564 Points)
Replied 24 July 2009

I have a query on TDS Return

In the TDS return if the challan details are mentioned separately for each and every deductee i.e. for eg in one challan amounting to say Rs.10,000/- there are 5 deductees of Rs.2,000/- each and in the TDS Return if it is mentioned that 5 challan and 5 deductee with the same challan No. If we add 5 challans the total amount will be Rs.10,000/-.

Kindly clarify whether this is acceptable by Income Tax Department.

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 28 August 2009

I read on Internet that credit for TDS will not be given by IT Department for a TDS entry not appearing in 26AS database ie if TDS not filed by the deductor. As TDS is done against some earning (eg Bank interest), does this mean that IT Department will reduce the total earning value by corresponding earning amount for which TDS not filed while calculating total tax value?

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 11 September 2009

I think many must be facing this problem. TIN-NSDL sends E-mail suggesting to contact TDS deductors to furnish the TDS detail properly & completely to match it with TDS certificates issued by them. On repeated reminder banks do not take proper action & therefore, data in 26AS has mistakes & also does not match the TDS certificates. As individuals have no controls on banks or other TDS deductors, they can not force them to correct the information in 26AS by filing TDS properly & correctly. This means at some stage the individuals will not get credit for the total TDS deducted & therefore may be forced to pay more tax unnecessarily. What can be done in this regard by individuals? I guess only Govt. can forcr banks & other TDS deductors to file TDS properly, correctly & timely.

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RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 25 June 2011

I observed that bank made a mistake in entering value for Interest Paid. I approached the bank. They are trying to rectify the problem & for this it seems first of all they have to get some permission from IT Department/TIN-NSDL. They told me that they applied for the permission online yesterday but still
they are not able to open some screen for entering the rectifying entries. Has anybody else faced this problem? How many days does it take to get the permission to open the page for entering rectifying enties (sorry I do not know the exact procedure & my information here is based on feedback from them). Can anybody tell me the exact procedure for entering rectifying entries or a link where I can get this information. Thanking you. Best regards, RAKESH

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 25 June 2011

I checked my 26AS. Also, I checked Interest interest earned by FDs & TDS against each of the Interest paid. I found that the Interest Paid values were wrong in 26AS. How can these be corrected? Is the t Paid procedure to correct these Interest Paid & TDS deducted is called e-TDS filing & bank can correct the mistake by following procedure for e-filing? I contacted bank but they seem to be confused about procedure for correcting the entries (Interest Paid). Also, in some cases there are U flags. How these can be removed? Thanking you. Best regards, RAKESH

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 25 June 2011

Originally posted by : RAKESH JAIN
	I checked my 26AS. Also, I checked Interest interest earned by FDs & TDS against each of the Interest paid. I found that the Interest Paid values were wrong in 26AS. How can these be corrected? Is the t Paid procedure to correct these Interest Paid & TDS deducted is called e-TDS filing & bank can correct the mistake by following procedure for e-filing? I contacted bank but they seem to be confused about procedure for correcting the entries (Interest Paid). Also, in some cases there are U flags. How these can be removed? Thanking you. Best regards, RAKESH

Bank has to revise their ETDS return with correct data, this is only solution to the prob.

Aparna Raja K.C (Student) (520 Points)
Replied 25 June 2011

Copy of TDS certificates attached with the return will be more valid. as banks may at times omit to reflect the collection of all TDS in their certificate.

Copy of form 16/16A will be a valid enough to claim TDS :)

2 Like

Balaji (Knowledge Seeker) (317 Points)
Replied 25 June 2011

Dear Mr.Jain,

Is the Bank at default "Yes Bank"?It's been my experience that their back-office is sloppy and their customer service officers (though they have fancy names!!) even more so.Would you like to divulge the bank in question?