An SBI employee whose Total Tax payable as per Form 16 is Rs.31,950.
However, as per 26AS Tds total is Rs.24,250/- i.e excess by Rs.1020, considereing tds from salary.
Tax paid by employer on behalf of employee is not reflected anywhere in 26AS.
How to deal with the issue in ITR.
Again ,Total Income chargeable under Salary as per Form 16 is Rs.5,96,980/- and Total income (i,e after deductions under chapter VIA ) is Rs.5,30,110/-.
However,total credit as per 26AS is Rs.5,06,255/- .
Actually, what amount should be reflected as amount paid/credited in 26AS-
1)Total income
2)Amount chargeable as salary income
3)Amount actually paid to employee
Dear Joythis
"Actually, what amount should be reflected as amount paid/credited in 26AS- "
1)Total income
In form 26AS, that portion of salary are shown, on which TDS has been deducted
it might be possible, on salary of first month , tds has not been deducted by employer
2)Amount chargeable as salary income
Income from salary is , total income after deduction under chapter VIA
i.e. Rs. 5,30,110/-(which is actual),however in form 26AS showing less amount.
CAclubindia
