learnt from a reliable source that high value transactions r nowadays not reflected in 26 as for assessee to view.
moreover dept tracks transactions whether they r reported or not.
is it true. can any senior advice us.
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26 As and relevance
Replies (4)
To be reflected in 26AS there should have been TDS made for Assesses PAN.
If there is no TDS done for a payment then it will not be reflected in 26AS right..
If there is no TDS done for a payment then it will not be reflected in 26AS right..
transactions like purchase of bonds mutual funds rec involves no tds. in earlier years they were reflected in 26 as under air.
Now they do not.....
any valid reason .
Now they do not.....
any valid reason .
| Originally posted by : RAJKUMAR TG | ||
 |
learnt from a reliable source that high value transactions r nowadays not reflected in 26 as for assessee to view.moreover dept tracks transactions whether they r reported or not.is it true. can any senior advice us. |  |
yes- despite no AIR reports in FORM 26AS - people have received IT notice for FD's / High Credit card spending / high transactions turnover in SB account etc. but for TDS and income reported (except SB account interest )--Form 26AS is BIBLE... the problem is some instutions may report late / or it may reflect late in 26AS. I check my Form 26AS one last time 1 week before IT filing deadline & then file online accordingly,(even though I maintain spreadshet for income earned from institutions whether they report or no) These kind of notices come "after few years "usually.
sir.
it is the duty of reporting entity to report before 31st may.
that means it must be available for us to view.
when I checked with my friends they say these info are now shifted to another portal.
nowadays dept is too many portals beta version
hence I wanted to confirm from experts
it is the duty of reporting entity to report before 31st may.
that means it must be available for us to view.
when I checked with my friends they say these info are now shifted to another portal.
nowadays dept is too many portals beta version
hence I wanted to confirm from experts
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