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DIFFERENCE IN AMOUNT OF INTEREST ON DEPOSITS-194A

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MANIAN T.V

SENIOR MANAGER(Retd) Nationalised Bank

57 Points Posted on 19 August 2020

My interest income as per interest Certificate --- Rs 3,06,087
interest income as per 194A in 26AS --- Rs 2,78,717
Total of interest for Q1,Q2,Q3 form 16A ---- Rs 1,37,111.- It is reported by my Bank that NO DATA for Q4 , Hence No Form 16A for Q4.( which can never be). All my deposits are live as on date. No response to my various letters to the Bank(Branch) and Zonal Office( Controlling Administrative Office) On a deep scrutiny, it is found that several entries related to Int accrued as on 31-03-2020 were not entered in 26Q and thereby NOT appearing in Form 26AS. Why it is so? i.e difference between these 3 certificates issued by the same Bank. I DO NOT HAVE ANY ACCOUNT WITH ANY OTHER BANK and any other Branch of MY BANK. Which amount I have to take as Interest Income in my ITR?

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Quick Summary

A user is experiencing a significant difference between their interest income as per the bank's interest certificate (Rs 3,06,087) and their Form 26AS under section 194A (Rs 2,78,717). They've also noted that Form 16As for Q1-Q3 total Rs 1,37,111, with no data provided for Q4. Despite contacting the bank, no explanation has been given. The user suspects that interest accrued as of 31-03-2020 might not have been correctly reported in 26Q, leading to the discrepancy in Form 26AS. They are seeking guidance on which interest amount to report in their Income Tax Return (ITR) and how to correct potential errors in 194A entries if they differ from 194N.