To simplify (with dummy numbers):
- Bank deducted 1L in total for TCS (for sending money abroad under LRS).
- When I checked Form 26AS, I saw that 20K out of the 1L was an invalid transaction.
- I emailed bank and they refunded 20K few weeks back
- I checked Form 26AS, and it still says 1L TCS and has the invalid transaction (of 20K). Ideally, it should be saying 80K TCS, since 20K TCS was invalid and is refunded to me by the bank.
- I've been chasing the bank for several weeks to rectify Form 26AS, but not getting any response.
Should I just file my ITR and mention 80K as the TCS? Or will the income tax department see mismatch in TCS and mark the ITR return as invalid?
CAclubindia
