Form 16 tds differs from 26as

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BOOK KEEPING & TAX CONSULTANT
88 Points Posted on 01 January 2021

NEW YEAR GREETINGS TO ALL,

one of my client facing the issue of  TDS 

TDS AS PER FORM 16 SHOWS 50000/- WHILE IN 26AS , ONLY 21350/- was shown as tax deposited.

Its further reviewed in TRACES,  its correctly showing as 50000/- . so , while filing the ITR, the computation results in paying the difference amt of tax

KIndly guide how to  fix the issue  to file the return of ay20-21.

 

tnz

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On 01 January 2021 at 16:09 Report
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Quick Summary
A client's Form 16 shows a TDS amount of £50,000, but Form 26AS only reflects £21,350. While TRACES correctly shows £50,000, this discrepancy causes issues when filing the Income Tax Return (ITR), leading to a higher tax liability. The advice given is to file the ITR based on Form 26AS and to request the issuer of Form 16 to correct the TDS deposit or the Form 16 itself.

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Tax consultant
5895 Points Posted on 01 January 2021
Sorry didn't get you at 3rd paragraph
it's showing in 26as correctly but while filling ITR inside form it's differently showing or what ?
if inside then refresh it will be corrected
if not then file as per correct one if the form 16 have the signature of employer authority so that if in future notice comes then show the form 16 there's will be no problem
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On 01 January 2021 at 17:46
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Student CA Final
24 Points Posted on 02 January 2021
You need to file return as per 26AS only if it there is difference between 26AS and 16 then Ask the issuer of form 16 to correct or diposit the TDS correctly as default is at issuer side.
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On 02 January 2021 at 15:09
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BOOK KEEPING & TAX CONSULTANT
88 Points Posted on 03 January 2021

GOTUR POINTS SIR, THANKS FOR THE CLARIFICATION. WLL ASK THE CLIENT TO FOLLOW UP WITH THE ISSUER   f & a dept

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On 03 January 2021 at 12:53

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