TDS deducted u/s 194N but showing as 194NF in 26AS

ITR 378 views 3 replies

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! 

Replies (3)

@ 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

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. 

@ 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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