SFT 005 time deposit showing negative amount in brackets.

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A user noticed a negative amount for SFT 005 Time Deposit in their Form 26AS after their ITR was processed. This entry, reported by IDBI Bank, appeared as a negative figure in brackets. The user, who has a standard FD with the bank, was concerned about this unusual display. The explanation provided is that this negative entry simply indicates a correction made by the bank to their TDS returns or challan details, and it's not a cause for concern.

Amitabha Das

Amitabha Das (Querist)
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01 February 2021 Sir I have filed itr for fy 2019-20(ay 2020-21).My return has processed already.But today and on 01/02/21in my form 26as Part E shows SFT 005 Time deposit filed by idbi bank(through Mumbai head branch)as (-213827)....Remarks 'O'.Ihave a single fd in idbi bank much less than ten lakhs auto renewing for last 2-3 years.My fd interest auto calculated in my 26as and I'm filing my itr for last 10years almost.What does this negative entry indicate sir as SFT 005?What to do now sir?Thanks in advance sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 February 2021 No need to do anything now as it's negative.

Rahul varshney

Rahul varshney (Expert)
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02 February 2021 Don't worry, it occurs when the TDS Returns or the challan details uploaded by the bank are rectified.
it is nothing to worry about this, it is just a correction of error.

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