Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2011 Please clarify whether the amount of TDS as per books and as per 26AS statement.If the amount of 26AS statement amount is more than the book entry, which one can we take as TDS deduction while computing the taxable income.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 August 2011 First of all check both the statements and see which one is correct. Sometimes it so happen that someone wrongly mentioned your PAN is tds return. As a result the TDS amount will be shown in your 26AS even though the TDS was not deducted from you. So your 26AS amount will be more than that in the books. In that case you shall claim only the correct amount, the amount which was deducted from you. If you made a mistake in books in that case make a correction. So take the amount in computation which was actually deducted from you.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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05 August 2011 Some times it happens that the tax deductor maintains his account on mercantile basis and you are on cash basis so there arises the difference. You should claim the TDS only on the income you have shown and the balance be carried forward.

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