TCS ON SALES WEF 01-10-2020
This query is : Resolved
01 October 2020
DEAR SIRS :: THERE IS GREAT CONFUSION ON ADDING TCS ON TAX INVOICES....
(ONE GROUP SAYS ) IS THIS ON TAXABLE VALUE BEFORE TAX OR
(SECOND GROUP SAYS ) TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )......
I ALSO HEARD THAT TCS ALSO REQUIRED TO BE DEDUCTED AND DEPOSITED ON AMOUNT RECEIVED FROM PARTIES WHERE SALES WERE MADE TO PARTIES PRIOR TO 30-09-2020 BUT WHO CROSSED 50 LAKHS SALES TILL 30-09-2020.... PLEASE CLARIFY... REGARDS
(ONE GROUP SAYS ) IS THIS ON TAXABLE VALUE BEFORE TAX OR
(SECOND GROUP SAYS ) TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )......
I ALSO HEARD THAT TCS ALSO REQUIRED TO BE DEDUCTED AND DEPOSITED ON AMOUNT RECEIVED FROM PARTIES WHERE SALES WERE MADE TO PARTIES PRIOR TO 30-09-2020 BUT WHO CROSSED 50 LAKHS SALES TILL 30-09-2020.... PLEASE CLARIFY... REGARDS
10 October 2020
TCS SHOULD BE ON TOTAL VALUE OF INVOICE ( TAXABLE VALUE + GST )
10 October 2020
Dear Sagar :: Good Afternoon... ! How to resolve issue of mismatch in annual 26 AS..... ?
10 October 2020
what's issue?
26 July 2025
Mismatch in Annual Form 26AS happens when the tax credit reflected in Form 26AS does not match with the actual TDS/TCS deposited by deductors or the income declared by the taxpayer.
Here’s how to resolve the mismatch:
### Steps to resolve mismatch in Annual 26AS:
1. **Check Details Carefully**
* Verify PAN details, deductor TAN, challan details, and TDS/TCS amounts.
* Sometimes mistakes in PAN/TAN or challan numbers cause mismatch.
2. **Communicate with Deductor/Collector**
* Contact the deductor (employer, client, bank, etc.) who deducted TDS or collected TCS.
* Ask them to verify if the deposited TDS/TCS matches the details they have reported to the IT department.
* If discrepancy is found, request the deductor to file a correction statement (TDS/TCS return correction).
3. **Correction Statement by Deductor**
* The deductor can submit a **correction statement** through the TIN-NSDL portal to rectify errors in the TDS/TCS return.
* Correction statements can be filed for a particular quarter/year.
4. **Verify Updated 26AS After Correction**
* After correction filing, wait for the IT department to update Form 26AS.
* It may take 1-2 weeks after correction statement filing.
5. **Filing Revised Income Tax Return (if required)**
* If mismatch is due to incorrect income or TDS reported in the original ITR, taxpayer can file a **revised return** with correct details.
6. **Dispute with Income Tax Department**
* If deductor refuses to correct or in case of complex mismatches, taxpayer can approach the Income Tax Department via:
* Online grievance portal ([https://pgportal.gov.in/](https://pgportal.gov.in/))
* Income Tax helpline or local IT office.
7. **Maintain Proper Records**
* Keep all TDS certificates (Form 16/16A), challans, payment receipts for cross-verification.
---
### Common reasons for mismatch:
* Deductor has not deposited TDS but issued TDS certificate.
* PAN or TAN errors in TDS return.
* Delay in filing or processing of TDS returns.
* TCS collected but not reflected.
* Income or TDS wrongly reported in ITR.
---
If you want, I can help you draft a communication mail to the deductor or guide you through the correction filing process. Would you like that?
Here’s how to resolve the mismatch:
### Steps to resolve mismatch in Annual 26AS:
1. **Check Details Carefully**
* Verify PAN details, deductor TAN, challan details, and TDS/TCS amounts.
* Sometimes mistakes in PAN/TAN or challan numbers cause mismatch.
2. **Communicate with Deductor/Collector**
* Contact the deductor (employer, client, bank, etc.) who deducted TDS or collected TCS.
* Ask them to verify if the deposited TDS/TCS matches the details they have reported to the IT department.
* If discrepancy is found, request the deductor to file a correction statement (TDS/TCS return correction).
3. **Correction Statement by Deductor**
* The deductor can submit a **correction statement** through the TIN-NSDL portal to rectify errors in the TDS/TCS return.
* Correction statements can be filed for a particular quarter/year.
4. **Verify Updated 26AS After Correction**
* After correction filing, wait for the IT department to update Form 26AS.
* It may take 1-2 weeks after correction statement filing.
5. **Filing Revised Income Tax Return (if required)**
* If mismatch is due to incorrect income or TDS reported in the original ITR, taxpayer can file a **revised return** with correct details.
6. **Dispute with Income Tax Department**
* If deductor refuses to correct or in case of complex mismatches, taxpayer can approach the Income Tax Department via:
* Online grievance portal ([https://pgportal.gov.in/](https://pgportal.gov.in/))
* Income Tax helpline or local IT office.
7. **Maintain Proper Records**
* Keep all TDS certificates (Form 16/16A), challans, payment receipts for cross-verification.
---
### Common reasons for mismatch:
* Deductor has not deposited TDS but issued TDS certificate.
* PAN or TAN errors in TDS return.
* Delay in filing or processing of TDS returns.
* TCS collected but not reflected.
* Income or TDS wrongly reported in ITR.
---
If you want, I can help you draft a communication mail to the deductor or guide you through the correction filing process. Would you like that?
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