Respected Sir/Madam,
In my Form 26AS this year I find that there's a column called Status of Booking. This is under TDS deducted for Fixed deposit Interest. Most of the entries are (F Finalized) but a handful recent entries are marked as (O Overbooked ).
What does Overbooked mean? Does it mean that the TDS is deposited by the bank from their pocket for some technical reasons and they are going to later recover the same from the account holder i.e. me in this case.
I checked the TDS amount, it is 10% and that is what was applicable in FY -2019-20.
The standard definition given in the Form 26As is bit unclear. It goes like this
Payment details of TDS / TCS deposited in bank by deductor have matched with details mentioned in the TDS / TCS
statement but the amount is over claimed in the statement. Final (F) credit will be reflected only when deductor reduces claimed amount in the statement or makes additional payment for excess amount claimed in the statement
There's a similar question on this forum, but it pertains to sell of shares way back in 2012-13 and I could not get much clarity. A simple layman's clarity shall be great to know.
Thanks and regards,
Rajesh
CAclubindia
