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Income tax

deepali agarwal (Company Secretary) (1289 Points)

24 September 2012

Plzz hepl regarding this prob.

When i imported 26AS of a client it gave the amount credited under section 194C near about 18 lacs but no TDS.Is it possible that No TDs is deducted on any payment credited or its the fault???

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3 Replies

CS RAJESH C.CHOUDHARY (ASSISTANT MANAGER) (14607 Points)
Replied 25 September 2012

It is quite possible that out of the amount paid no TDS is made.

Regards,

RAJESH CHOUDHARY

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CS RAJESH C.CHOUDHARY (ASSISTANT MANAGER) (14607 Points)
Replied 26 September 2012

every deductor of tax has to file quarterly eTDS return. What the figure of deductee included in the quarterly return of the the deductor, it will reflect in the form no.26AS. So the amount which show in the form no.26AS is nothing but the data uploaded by the tax deductor.

If any person find any error in the 26AS he may intimate this to the deductor and requested to file correction/revised return as soon as possible for rectification.

Form 26AS is a very important for an assessee. If the assessee file his/her return of income the income tax departemnt will give credit prepaid tax on the basis of 26AS.

Regards,

RAJESH CHOUDHARY

Bhavi ( CA) (82 Points)
Replied 01 October 2012

It is not possible since any payment exceeding 30k has to be deducted for TDS. However for the amount it would be best to confirm whether TDS has been deducted from the payments made from the party itself. Also, the party is legally bound to give TDS certificate for yor client.