29 May 2013
Can we take TDS credit based on 26 AS information. Is is it requied to get TDS certifcate from Deductor. ( With reference to IT Act/Section )
29 May 2013
You can take credit based on 26AS since you are required to submit the TDS certificates. But still you should keep the TDS certificates in your record for future requirement. Also we should only take credit of genuine amount of TDS shown in 26AS. i.e., If by mistake anyone quoted our PAN and the TDS amounts gets credited to our 26AS then we should not claim that amount. We should claim only those amounts which are actually deducted from us.
29 May 2013
Yes, it is required to get tds certificates for the tds deducted
and you can show in your return as per tds certificates
But you will get credit what is shown in 26as
so if you have received tds certificates but details not found in 26as means you have to ask deductor to file tds return.
And cross check whether you have received tds certificates for the total value which is deducted at source and the same was properly shown in 26AS
It is a general rule there is no section as per my knowledge but if you see tds details sheet of ITR it is mentioned that you have to provide details of TDS as per tds certificates
29 May 2013
No its not mentioned in any section as far as i know. It is a thumb rule claim what has actually been deducted from you and is shown in 26AS.
Income Tax Department facilitates a PAN holder to view its Tax Credit Statement (Form 26AS) online. Form 26AS contains
1)Details of tax deducted on behalf of the taxpayer by deductors 2)Details of tax collected on behalf of the taxpayer by collectors 3)Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders) 4)Details of paid refund received during the financial year 5)Details of the High value Transactions in respect of shares, mutual fund etc.
The Tax Credit Statement (Form 26AS) are generated wherein valid PAN has been reported in the TDS statements.
29 May 2013
Thank u verymuch for your quick response. Tax deductor has failed to provide the TDS certicate in that case can we take TDS credit based on 26 AS.
29 May 2013
Yes you can take credit if the amount is matching. Details are reflected in 26AS means that return has been correctly filed. Claim the TDS amount and then later take the certificate from your deductor.
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