Tds as per as-26
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2012
As per recent news letter of icai , some sreps of verification explianed i. e. Sec 143 - Assessment
(i) In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in AS-26 data does not exceed Rs. Five thou-sands, the TDS claim may be ac-cepted without verification.
(ii) Where there is zero TDS match-ing, TDS credit shall be allowed only after due verification.
iii) In all other cases TDS credit shall be allowed after due verifica-
What is this verification ?
Please explian
(i) In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in AS-26 data does not exceed Rs. Five thou-sands, the TDS claim may be ac-cepted without verification.
(ii) Where there is zero TDS match-ing, TDS credit shall be allowed only after due verification.
iii) In all other cases TDS credit shall be allowed after due verifica-
What is this verification ?
Please explian
CA CS Amit S. Kedia
(Expert)
25 June 2012
Dear Author,
This circular has been issued to overcome the difficulties faced by the assessees in timely and hassle free complettion of assessment where the mismatching as per 26AS and the form 16/16A is minor.
Accordingly, CBDT has decided that if the mismatching in both the forms results the difference of not more than 5000 then there will not be any scrutiny or verification.
Further, if there is no mathing with the form 26AS then ofcourse they will go into further scruitiny to find out the reason of mismathing.
This circular has been issued to overcome the difficulties faced by the assessees in timely and hassle free complettion of assessment where the mismatching as per 26AS and the form 16/16A is minor.
Accordingly, CBDT has decided that if the mismatching in both the forms results the difference of not more than 5000 then there will not be any scrutiny or verification.
Further, if there is no mathing with the form 26AS then ofcourse they will go into further scruitiny to find out the reason of mismathing.
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