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Non deduction of tds under section 194a

ITR Filing 1607 views 3 replies

A salaried employee having salary income of Rs.5,00,000/- for which TDS has been deducted by the employer and same has been reflected on Form-26AS. Besides, he has interest income on fixed deposit of Rs. 40,000/- for which TDS under section 194A has not been deducted and in Form-26AS only TAN No of Bank, Deductor Name, Amount Credited are showing but no TDS deduction.

Whether assessee should show bank details under TDS other than salary Form-16A in the ITR-1 as bank has not deduction TDS. It will be written Zero. After calculating tax, assessee has to pay tax for non deduction of TDS.

Thanks in advance.

Replies (3)

If only interest is showing in 26AS & no TDS has been deducted then you don't need to worry about just file your return without putting details of the bank interest credited to you in TDS column

Mr. Siddharth, the assessee has to pay tax for interest income i.e. tax on Rs.40,000/- and he has to consider it in his total income. Am I right?

yes the assessee is reqd to pay tax on 40000


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