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TDS information in TIN-NSDL 26AS

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)

06 July 2009

Bank deduct TDS on interest earned by FDs mainly in March end & also on maturity of FD. They are supposed to send TDS information to update 26AS record for thr tax payer (with PAN). When this information is expected to be available ie after how much time after issuing TDS certificate? If the information does not appear, what happens to the credit to tax payer for TDS?

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9 Replies

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 07 July 2009

Mr Jain

This is the common query raised by a common man & to solve this Income tax deptt. has already introduced a scheme of UTN (Unique transaction number). But this scheme is not yet started. Brief details of such scheme is that when any one deduct TDS of any party then at the time of deposit the TDS system is automatically generate a UTN no. of each transaction no. & this UTN no. is a proof that TDS is deposited. And then at the time of issuing the TDS certificate this UTN is also mentione & on the basis of such party can claim the TDS credit. But unfortunately this scheme is not yet started .

But now a days , when you are claiming the same i.e. you are claiming the credit of TDS then form 16A is the sufficient proof & details given in such form is valid for claiming the TDS credit.

Hope now ur doubts is clear.

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 07 July 2009

Dear Mr. Sourabh Gupta,

Thank you for your reply. It provides insight on UTN too which is also new concept & I was not clear about it.

Best wishes. RAKESH

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 10 July 2009

Dear Mr. Sorabh,

I guess you can clear this doubt too.

If TDS is deposited by a company/bank with IT Deptt. after 31-March (eg for FY 2008-2009 say on 10 April 2009) then it will not appear in TDS entries of the PAN holder for the FY. Many banks deposit the TDS after 31 March & may be that is why these TDS entries do not show in the 26AS? Should these show in next year's 26AS DB? If these do not appear in either year's 26AS DB, does it mean that TDS information has not been sent by deductor to NSDL-TIN?

We observed that while filing return online, system does not accept the TDS date is mentioned beyond 31 March, so the above doubt about TDS entries not showing in 26AS DB.

Thanking you. Best regards, RAKESH

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Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 10 July 2009

Mr. Rakesh

I m litlle bit confused regarding the query . Can you explain the query with the example..........................

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 10 July 2009

Dear Mr. Sorabh,

Thanks for your prompt reply.

As an example, SBI deducted TDSes on FDs on 31-Mar-2009 & as per TDS Certificate, the TDS was "deposied into Govt A/C challan date 17/04/2009". The entry for these TDSes do not appear in 26AS DB. Could it be because challan date (17/04/2009) is after 31/Mar/2009? Should these entry appear in next year's 26AS DB? If these do not appear even in next year's 26AS DB then what could be the reason for it not appearing in either year's 26AS DB?

Thanking you. Best wishes, RAKESH

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 10 July 2009

Mr Rakesh

As per the provision of depositing the TDS , TSD shuld be deposited with in 7 days from the end of month............But......for the TDS which are deducted ON 31/03/2009 , the time limit is 2 month from the end os such month. So if bank credits you on 31/03/2009 then there is no late payment.............

And about 26As that TDS deducted by bank not appearing in 26As, you shuld contact with the bank............

But for return purpose no need for 26AS oe something else..........I think you might be raise this query for the purpose of refund...........

1 Like

RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
Replied 10 July 2009

Thanks I will discuss the problem with Bank. I feel sooner or later only entries in 26AS will be used for crediting the TDS amount. My son faced problem in filing his return as system does accept TDS if date of TDS is given beyond 31-Mar as he was entering the date same as challan date. Possibly he should enter date as 31 March (TDS certificate was issued in May with challan date 17/04/09). Later on we checked statement of account for FD online & found TDS was done on 31 March.

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 10 July 2009

You sholud mentione on that column i.e. ..................... TDS TO BE DEPOSIT...................then system will definitely accept the return.....................