Form 26AS and TDS

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DR P K AGGARWAL

PROFESSOR

21 Points Joined January 2010

My Form 26AS showing a wrong amount paid to me say 75000 and TDS on said amount is Rs 7,500 while I have received only 3500 from the firm. I am in slab of 30%. What should I do whether I should show the wrong amount I.e. Rs 75,ooo in my return and pay balance amount of tax @ 30% or ignore that receipt and show actual received.
pl advise suitably.
Regards

Replies (1)

CA Amrita Chattopadhyay

Audit & Assurance

13459 Points Joined July 2011

The Income Tax Department generally compares the 26AS with the return and explanation are generally seeked for the differences. You can discuss with the firm from whom you have received the amount and ask them to file a revised return.