Reflected in 26AS under Section 194 S

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A user's ITR-1 was rejected because of a tiny TDS amount of Rs. 0.01 under Section 194S from a crypto transaction. They were advised to file ITR-2 and report the crypto income in the Schedule VDA. While the revised return was processed successfully, the user noted that Form 26AS did not update. It was clarified that Form 26AS only changes if the tax deductor files a revised return.

Murali

Murali (Querist)
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09 July 2024 Dear Sir,

I filed ITR-1, but the return was rejected. Upon reviewing my 26AS statement, I noticed an additional transaction under 194S with TDS of Rs. 0.01 through Coin DCX (Crypto). This amount of 0.01 caused my ITR to be rejected. What should I do next? Can I file ITR-2 instead? If yes, where should I mention this 0.01 in ITR-2?

Please advise.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 July 2024 Have you done any transaction in Crypto?
If no, file feedback in AIS, that the 'data is incorrect' or 'doesn't belong to me'

Murali

Murali (Querist)
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09 July 2024 Yes I done transaction, now in ITR -2 where i mention, i have confusion.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 July 2024 Schedule VDA
Refer: https://www.koinx.com/tax-guides/file-crypto-taxes-on-schedule-vda

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 August 2024 Good luck.

Murali

Murali (Querist)
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09 October 2024 Thank you for your reply, sir. This is very helpful to me. I have revised the return, and it has been successfully processed. However, the 26 QB has not changed. Is it possible to receive a new 26 QB statement with the modifications?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 October 2024 Form 26AS will not change by any of your action. It gets changed if the tax deductor files revised return.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 October 2024 Good luck ....

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