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TDS as per AS-26 (Income Tax)

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This query is : Resolved

( Querist )
02 August 2010

Please explain ,
What is TDS as per AS-26 & How can Solve

CMA Ramesh Krishnan

( Expert )
02 August 2010

please explain your query

Ca Aashish Upadhyay

( Expert )
02 August 2010

Please elaborate!


( Expert )
02 August 2010

Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement, with respect to a financial year, will include details of:
a) tax deducted at source (TDS);
b) tax collected at source (TCS); and
c) advance tax/self assessment tax/regular assessment tax etc., deposited in the bank by the taxpayers (PAN holders).
Form 26AS will be prepared only with respect to Financial Year 05-06 onwards.
d) Paid refund received during the financial year

The Form 26AS (Annual Tax Statement) is divided into three parts, namely; Part A, B and C as under:
Part A displays details of tax which has been deducted at source (TDS) by each person (deductor) who made a specified kind of payment to you. Details of the deductor (name & TAN) along with details of tax deducted like section under which deduction was made (e.g. section 192 for salary), date on which payment was effected, amount paid/credited, tax deducted from payments and deposited in the bank are included in this part.
Part B displays details of tax collected at source (TCS) by the seller of specified goods at time these goods have been sold to you. Details similar to those displayed in Part A in respect of the seller and the tax collected will also be available.
Part C displays details of income tax directly paid by you (like advance tax, self assessment tax) and details of the challan through which you have deposited this tax in the bank


CA. Pradeep Nayak

( Expert )
02 August 2010

AS 26 deals with Intangible Assets.

It doesnot prescribe any TDS rates or procedure.

Please frame your query properly.



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