Banks statement says TDS deducted under 194N and AIS also mention 194N
However 26AS Shows it as TDS deducted under section 194N.
Kindly guide why this difference may be and what we need to do next?
Thanks for your time and input!
3 Replies
Ranjan
(Mr)
(619 Points)
Replied 10 July 2025
@ Deepa Chaudhary
Check the below links to understand your course of action:-
https://www.suvit.io/post/section-194n-and-section-194nf
https://www.google.com/search?client=firefox-b-e&sca_esv=6a8bc30cf81663d6&q=section+194n+of+income+tax+act&sa=X&ved=2ahUKEwjhj7f-w7GOAxXqU6QEHVM6ED0Q7xYoAHoECAsQAQ&biw=1366&bih=634&dpr=1
Deepa Chaudhary
(NA)
(28 Points)
Replied 10 July 2025
Sir, this is not helping as if the deduction is made by bank on cash withdrawal, then form 26AS should also be showing the same section.
Ranjan
(Mr)
(619 Points)
Replied 10 July 2025
@ Deepa Chaudhary
194NF is a subsection of 194N as per my understanding.
194NF specifying the TDS rate.
In any case, AIS has a small note, which mentions that in case of any discrepancy between date in 26AS and AIS, use the data in 26AS.
So you can do accordingly.
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