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TDS RELATED QUERIES

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naresh poojari

29 Points Posted on 08 February 2021

Hello,

if abc company is extra tds paid then will abc company get refund & if tds receivable then will abc company get refund ?

in form 26as reflects only tds receivable or payable also ?

form 16, 16A, & 26as given by who to whom and how can get it

kindly solve these above queries

Regards
Naresh

Replies (4)

Quick Summary

This discussion clarifies queries related to Tax Deducted at Source (TDS). It explains that refunds are possible if the TDS paid exceeds the actual tax liability after filing your return. The roles of Form 16 (for salary income) and Form 16A (for non-salary income) are detailed, both being certificates issued by the deductor to the deductee. Form 26AS serves as a consolidated statement of TDS deducted against your PAN, accessible on the Income Tax website.

prasad Nilugal

GST Practitioner & Accounts

8992 Points Posted on 08 February 2021

1) Yes you will get refund , if Tax paid is more than Tax payable , by way of Advance Tax & TDS during year , after assessment and filing of return .

2) Form 16 is certificate issued by the employer ( Deductor ) to employee for deduction of TDS form his salary if he cross exemption limit .

3) From 16 A is certificate other than Salary issued by Deductor to Dedutee for deduction TDS i.e professional fess , payment to contractor , Commission & Brokerage etc.

2) 26AS is summery of TDS deducted of TAN & PAN holder on Income Tax web site .