How to correct the mistakes in 26 as form?

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K Suresh

Investment advicer

32 Points Posted on 02 August 2014

Dear All,

The banker of one of my clients, erroneously deposited a sum of almost Rs.3 lakhs in to his account, deducted the TDS and also updated it in his 26 AS form. Afterwards the bank rectified its mistake by initially withdrawing the erroneously deposited above sum from my client's account and later on refunding the TDS exclusively deducted for the said deposit to my client, all right.

However because of this very unusual mistake on the part of the bank, which till to date is not corrected in his (client's) 26AS Form, my client's over all income has got exceeded in to 5 lakhs plus ceiling and invariably his aggregate liability also increased three folds.

Is there any way to rectify the 26 AS form ? If it is possible then, through whom it can be done - the person who sufferred TDS or the one who deducted the TDS.?

If someone can advice and enlighten me on this subject both myself and my client too will be ever grateful.

With tons of thanks

Yours

K. Suresh.

Replies (2)

Tribhuvan Aditya Singh

Student as well as Self-employed

3853 Points Posted on 02 August 2014

tds can be corrected only by deductor. you just need to write an application to branch manager to revise its tds return and delete the entry. once he agrees and revised tds is filed, your client's 26as will be updated in 15days from date of filing showing a negative entry of same amt which would mean that entry has been reversed.... if you wish to file your client's return then you can do it ignoring incorrect tds entry qhich would be corrected in meantime.

Anubhav

Chartered Accountant

423 Points Posted on 03 August 2014

File correct return. Ask for a letter from the bank regarding this mistake, and reversal for the same entry as well as to provide revised form 16a to your client. TDS can be sought on the basis of form 16a provided by banks. Department has no issue in giving credit on the basis of form 16a. But you need to sought a letter from bank manager regarding the mistake.

For any further query kindly pm or mail me.

AJH & CO

anubhavjain @ ajhco.in

9868729930