Tds amount in advance tax??

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012
Now that Form 26AS is available on website . Why not TDS taken on actual basis then on Estimated basis , while calulating Advance Tax???

CA. Hari Kishan

CA. Hari Kishan (Expert)

09 February 2012 It can be taken.. but what if the deductor delay the remittance of TDS or has remitted but not filed the e tds returns.. should the TDS be of a substantial amount.. it shall always be wise to confirm with the deductor the amount and compute your advance tax payable..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

09 February 2012 If you are referring TDS & Advance Tax in Form No 26AS, both are on actual basis.
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For the purpose of calculating Advance Tax installments, TDS can only be taken on estimated basis.
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It appears in 26AS, but as on 15th Sep, 15th Dec or 15th Mar, some of these were not appearing there.
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In the last column of 26AS the Author may see the different dates of Booking. This date if matched with the date of credit and date of deduction, it can be perceived that these depends very much upon the quarter of deduction and TDS return filing date.
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